THORChain upgrade enables native Monero swaps, boosting XMR 8.9%
THORChain's v3.20 upgrade enables direct swaps of Monero (XMR) and Zcash (ZEC) for Bitcoin, Ethereum, and stablecoins, boosting XMR by 8.9%. The upgrade introduces native swap support, Protocol-Owned Liquidity, and a Stable Reserve mechanism, aiming to improve liquidity and reduce reliance on centralized exchanges.
How this was made
The 30-second read
Why it matters
The upgrade removes the need for wrapped tokens, potentially expanding DeFi usage of privacy coins.
Market read
First native swap for XMR could boost its price and set a precedent for other privacy assets.
What to watch
Regulatory scrutiny on privacy coins could still limit broader adoption despite technical gains.
Background
THORChain released version 3.20 on Aug 25, adding native Monero (XMR) and Zcash (ZEC) swaps.
Ticker impact
THORChain v3.20 upgrade adds native Monero swaps, causing XMR to jump 8.9% on the day.
Further upside possible as liquidity deepens and more traders use the native swap feature.
The upgrade is a first‑time native integration, removing reliance on wrapped tokens and centralized exchanges, which should attract additional volume.
Market effects
Privacy‑coin sector may see renewed interest as decentralized swaps become viable.
Global crypto markets could experience modest buying pressure in privacy tokens.
Demonstrates growing DeFi infrastructure for previously unsupported assets.
Counterpoint
Liquidity remains thin; early price rally may be short‑lived if slippage deters larger traders.
Key entities
- protocolTHORChain
Decentralized cross‑chain liquidity network.
- cryptocurrencyMonero
Privacy‑focused digital asset (XMR).
