THORChain V3.4.0 Update

Event DetailsTHORChain, a decentralized Layer-1 blockchain built on the Cosmos SDK, enables cross-chain swaps for assets like Bitcoin, Ethereum, and Dogecoin without wrapped tokens. The v3.5 upgrade, scheduled at block 20940000, includes the TCY (THORChain Yield) token, though it won’t activate until May 5. TCY aims to be a perpetual revenue token, allowing users to stake and receive liquid representations for DeFi composability. The upgrade also touches the Bifrost bridge, ensuring smoother cross-chain transactions. Validators must approve the change via vote, with brief interruptions expected during deployment (source: thorchain.org). This upgrade could boost THORChain’s appeal in the $10B cross-chain DeFi market.Recent NewsTHORChain has been active lately. In April 2025, Proposal 6 introduced TCY, a community-driven initiative led by @aaluxxmyth from Maya Protocol. THORSwap also announced consolidating liquidity from Sushi to THORChain, transferring ownership to the community, and distributing bonus THOR to vTHOR holders (source: X posts by @THORSwap). In February 2025, THORChain’s network processed $500M in swaps, showing robust activity despite a bear market (source: thorchain.net). These developments highlight THORChain’s focus on community governance and liquidity growth.Future PlansPost-upgrade, TCY activation on May 5 will enable staking with liquid tokens, enhancing DeFi utility. THORChain aims to integrate with RujiraNetwork for advanced composability, allowing users to leverage TCY in broader DeFi ecosystems. The team also plans to expand support for more chains like Polkadot by 2026, further bridging liquidity across ecosystems (source: thorchain.org). These steps could position THORChain as a go-to for cross-chain DeFi solutions.Onchain Data$RUNE, THORChain’s native token, trades at $1.37 with a 24-hour volume of $151M and a market cap of $479M (350M circulating supply) as of April 2025 (source: CoinMarketCap). THORChain’s TVL stands at $200M, with 60% tied to BTC and ETH pools (source: DefiLlama). The 2:1 bond-to-stake ratio for nodes ensures security, with over 70% of $RUNE bonded, reflecting strong validator commitment.Community SentimentX users are optimistic about the upgrade. Community members praise TCY’s potential to enhance staking, though some note brief interruptions during the Bifrost update. @ninerealms_cap and validators are thanked for their efforts, showing strong support. Risk Disclaimer: Expect minor downtime during the upgrade; ensure wallets are updated to avoid sync issues.Why It MattersThe v3.5 upgrade strengthens THORChain’s cross-chain capabilities, making swaps faster and more efficient. With cross-chain DeFi volume at $10B, THORChain’s focus on native swaps and staking could attract more users. For newbies, it’s a seamless way to trade across chains; for pros, it’s a liquidity and yield opportunity. Stay tuned for TCY’s launch—this is a big step for DeFi!

"... claiming and trading of TCY will be LIVE... at 19:00 UTC "

The V3.7.0 release, set for June 17, 2025, is dubbed a “small release” focused on enhancing network stability [X Post ID: 1932734978741178455]. Key highlights include enabling @Nami_Index_ for better indexing, refunding bond slashes from the Bifrost upgrade to node operators, and laying groundwork for RUJI Perps—a decentralized perpetual futures product by @Levana_protocol [X Post ID: 1932734978741178455]. This update also introduces automatic churn of passive validators and removes native tokens like $TCY from the TVL cap, potentially unlocking new liquidity [X Post ID: 1932734978741178455]. The purpose? To strengthen THORChain’s infrastructure and pave the way for advanced DeFi offerings. Expect increased efficiency and a potential surge in user activity as RUJI Perps nears launch.Recent NewsTHORChain has been busy in 2025. In April, the Q1 2025 Report highlighted the soft launch of RUJI Swap, enabling direct swaps with base layer pools, and the integration of CosmWasm smart contracts [Medium: THORChain Q1 2025 Report]. On June 11, the project launched enshrined oracles, a native pricing system using feeds from exchanges like Binance and Kraken, reducing reliance on third-party providers like Chainlink [Coinmania, June 11, 2025]. Additionally, a new Vultisig-Blockaid partnership enhances wallet security with transaction simulation and threat detection [X Post ID: 1932875914150384109]. These moves signal THORChain’s push toward a self-sustaining ecosystem.Future PlansLooking ahead, THORChain aims to expand RUJI Perps to Mainnet post-3.7.0, pending Stagenet testing [X Post ID: 1932745032127164724]. The roadmap includes adding new chains and an App Layer with secured assets [Medium: THORChain Q1 2025 Report]. Long-term, the project envisions becoming the liquidity hub of capital markets, with $RUNE as the base layer for price discovery [X Post ID: 1933028263657664983]. This aligns with their goal of thriving for decades, as noted by @markfromdenmar_ [X Post ID: 1932716790951408054].Onchain DataSpecific onchain metrics for V3.7.0 are not yet available as of June 12, 2025, but THORChain’s recent activity shows robust usage. Affiliate trading volume hit $33M weekly, with Thorwallet and Thorswap leading at $20M and $17M, respectively [X Post ID: 1932806110345363697]. The network remains at its hard cap, with plans to adjust economic security via a new mimir [Medium: THORChain Q1 2025 Report]. Post-update, expect a spike in transaction volume as new features roll out.Community SentimentX is buzzing with excitement! @FelisNorwegicus’s breakdown earned praise, with users like @THORchad calling it a “game changer” and predicting a DEX flippening over CEXs [X Post ID: 1932900643720622372, 1933028263657664983]. Influencers like @leodexio note ATH shipping rates, reflecting optimism [X Post ID: 1932900643720622372]. Some, like @BooneW, question the oracle shift from Chainlink but acknowledge the long-term vision [X Post ID: 1932735537464664254]. Sentiment leans bullish, though minor concerns about testing delays linger.Additional InsightsTHORChain’s focus on native swaps and minimal dependencies sets it apart from competitors like Uniswap, which rely on wrapped assets. The V3.7.0 update could attract new users, especially with RUJI Perps on the horizon. A risk disclaimer: as with any upgrade, potential bugs or market volatility may occur—always DYOR and assess your risk tolerance.