XENON is a novel liquid xenon experiment concept for a sensitive dark matter search using a 1-tonne active target, distributed in an array of ten independent time projection chambers. The design relies on the simultaneous detection of ionization and scintillation signals in liquid xenon, with the goal of extracting as much information as possible on an event-by-event basis, while maintaining most of the target active. XENON is expected to have effective and redundant background identification and discrimination power, higher than 99.5%, and to achieve a very low threshold, on the order of 4 keV visible recoil energy. Based on this expectation and the 1-tonne mass of active xenon, we project a sensitivity of 0.0001 events/kg/day, after 3 yr operation in an appropriate underground location. The XENON experiment has been recently proposed to the National Science Foundation (NSF) for an initial development phase leading to the development of the 100 kg unit module.