THORChain has headlined its 3.20 upgrade rollout scheduled for Tuesday, August 25, with the introduction of native support for Monero (XMR) and Zcash (ZEC) swaps.
The widely teased upgrade would extend the no-wrapped-asset, no-intermediary digital asset swap that has made the decentralized exchange popular to the biggest privacy tokens.
The THORChain 3.20 announcement also said it will re-enable support for Solana, Base, and BNB, as the project continues to move on from its May 2026 exploit.
On top of all that, THORChain debuted Protocol-Owned Liquidity (POL) and Stable Reserve as new tools to upgrade the overall experience for users.
What is new in THORChain 3.20?
The release, which THORChain describes as one of its most significant upgrades to date, puts Monero and Zcash swaps alongside Bitcoin, Ethereum, stablecoins and other supported cryptocurrencies that users can already swap across blockchain networks on its DEX without first sending them to centralized venues.
The biggest part of the XMR and ZEC support that THORChain unveiled is the direct route it opens for privacy coin owners to natively move their tokens throughout the crypto market without first sending them to intermediaries. This especially lands as positive news for Monero (XMR), which has been delisted or regionally restricted on major centralized exchanges such as Binance, Coinbase and Kraken, among others.
THORChain 3.20 also introduced renewed support for Solana, Base, and BNB, three of the most active DeFi networks by transaction volume and total value locked (TVL), per Defillama data.
Version 3.20 also introduced Protocol-Owned Liquidity (POL) and Stable Reserve to THORChain.
- The Stable Reserve is a new stablecoin-to-stablecoin execution improvement feature that will allow eligible stablecoins to be swapped directly against protocol-owned stablecoin inventory rather than routing through THORChain’s normal RUNE-based liquidity pools.
- Protocol-Owned Liquidity, which THORChain documentation described as “one of the most important changes to THORChain’s liquidity model,” gives THORChain additional mechanisms for deploying protocol capital across the network. The foundations introduced in v3.18 allow part of THORChain’s System Income to be redirected into a dedicated POL Reserve and then deployed as RUNE liquidity into selected pools.
Other upgrades that shipped with the “feature-heavy” v3.20 update are:
- THORChain’s Memoless Swap system expanded to ERC-20 tokens
- MorpheusAI’s MOR token was added to THORChain’s EVM token configuration
- Swap, solvency and node security improvements also shipped
- Churn will resume on the network
THORChain moves on from May exploit
Some of the new features announced and services restored in the v3.20 announcement are the latest steps by THORChain to move on from the $10.7 million exploit that the popular non-custodial DEX and suffered in May 2026.
The project began its recovery process roughly one week after unauthorized token withdrawals from pools on THORChain’s cross-chain liquidity services on the Bitcoin, Ethereum, BNB Chain (formerly BSC), and Base blockchains.
At the time, THORChain opened a governance vote on the ADR-028 proposal, which presented node operators a path to restart operations. That proposal contained a plan for the network to absorb losses and resume operations.
Roughly one month after, on June 23, THORChain announced that swaps, liquidity provider actions, and cross-chain signing infrastructure had formally reopened. The restart came after an 11-stage, 39-day security overhaul.
The XMR and ZEC support delivers on items that THORChain listed on its privacy roadmap.
On-chain metrics are expected to stay on a recovery trend with the new features, renewed network integrations and expanded asset support that THORChain announced.
Total value locked is up near $65 million as of this report, up from around $50 million when the DEX restarted operations. DEX volume has also steadily returned, with Defillama reporting $23.33 million over the last 24 hours and nearly $650 million in the last month.
THORChain’s RUNE token is trading around $0.5 as of this report, up nearly 20% over the last week.