🧵@THORChain held their latest THORSday community podcast and there was a lot to unpack.
Hosted by @patriotsounds and @KentonC137, with @CBarraford joining for the full technical update.
Network recovery, new chains, free stable swaps, Protocol Owned Liquidity, and a surprisingly deep conversation about decentralization.
Here is everything discussed, broken down simply. Read till the end! 👇
A private, Monero-forked stablecoin that survived a 95% collateral crash.
Yield from proof-of-work block emissions, not lending.
Now eyeing a path onto @THORChain once Monero ships.
Check out this week's recap with @zephyr_org: 👇🏻
https://t.co/KGpCEdFzic
🧵@RujiraNetwork just launched something that changes how liquidity works on their orderbook DEX.
It is called Custom Concentrated Liquidity, and it is a bigger deal than the name suggests.
Here is what it is, how it works, and why it matters.
Read till the end! 👇
@THORChain has faced several challenges in recent months, but the latest events tell a more complete story.
🧵In this thread, we’ll cover the latest volume, revenue, infrastructure upgrades, the Solana integration, and what they suggest about the current state of the network. Read until the end!👇
🍻 Cheers to the THORChain devs, THORSec team, node operators, and everyone working around the clock to bring the DEX of DEXes back online.
While others talk, they are auditing, patching, testing, reviewing, and making sure the network returns stronger than before. 💪
This hasn’t been an easy few weeks, but watching the community, builders, and security teams unite behind a common goal has been incredible.
No shortcuts. No rushed fixes. Just relentless work to protect the future of permissionless cross-chain swaps.
The DEX of DEXes is coming back. And when it does, it will be stronger, more resilient, and more battle-tested than ever. ⚔️
Thank you to every builder burning the midnight oil for THORChain. 🍻🟠 #THORChain $RUNE #DeFi
⚡This Saturday on the THORChain Podcast | Ecosystem & Community Spotlight.
Severin from @deving_zone joins @KentonC137 and @patriotsounds live at 10AM EDT / 2PM UTC.
Deving Zone is building a DeFi ecosystem that seeks to eliminate the need for wraps and bridges.
Jump on stage and ask your questions live: https://t.co/AUD5BPlPXv
THORChain Incident Update #5
The devs and security teams are working hard to bring the network safely back online. The focus is on getting this right, without rushing any steps. Security and stability remain the top priorities.
Nodes have upgraded to v3.18.1, which contained a patch and restores @RujiraNetwork's ability to manage credit accounts (borrow / repay).
ADR028 has been approved by the nodes. The next major step is cutting and testing v3.19.0. Additional changes are being made to the release and will be tested on stagenet before moving to mainnet. The target is to have it on stagenet by EOD tomorrow, though an exact timeline is yet to be confirmed.
Once finalised and pushed for mainnet adoption, all node operators are asked to upgrade as quickly as possible so the network can come back online safely and efficiently.
With ADR028 now approved, the bounty is active, meaning the hacker has an open window to return a portion of the funds. The protocol will also cover the remaining loss using POL. The figures are still being defined and will be shared in a follow-up announcement.
One important note: tss-lib has temporarily been moved to closed source for the next few weeks to allow THORSec to complete a full security audit without exposing ongoing remediation work. The repository will be reopened once this is complete.
More updates coming soon. We appreciate the patience and support.
⚡ THORChain Podcast | Protocol Update with Co-Founder @CBarraford featuring @sodabubblelabs, part of THORSec, the team working on THORChain's security.
This Thursday at 2PM EDT / 6PM UTC.
Hosted by @KentonC137 and @patriotsounds.
Jump on stage and ask your questions live: https://t.co/AUD5BPli7X
Your CACAO could be doing more 🍫
Some quick CACAO Pool FAQs:
🔹“Is it an LP?” nope. it’s single sided staking only.
🔹 “Impermanent loss?” none 👀
🔹 “Where does the yield come from?” 5% of protocol income generated from swaps across Maya now goes directly to CACAO Pool depositors ⚡
🔹 “Do i need to choose pools?” nah. no managing multiple LP positions or deciding where to deploy liquidity. just deposit CACAO and earn yield from overall protocol activity.
🔹 “Where can i use it?” currently live on @vultisig + @nativeswap_io
@THORChain@KentonC137@patriotsounds@deving_zone One thing $RUNE has consistently done well is keep the ecosystem community driven. Podcasts and open discussions like this help keep builders, users, and projects aligned as the network grows.
We are a proud member of the Community Node initiate by @RUNEBondApp , and we are clad and happy to use their app! Every request ended in a new bond provider above the requested amount!
Beause of that our second node is ready to churn in as soon as possible!
Did you know that @RUNEBondApp recently launched their own Community Node operated by @JaneDButterfly, @HippocampusWeb3 and @patriotsounds.
Show them some love for their great tool they developed and lets get them into the active set too!
Check them out here: https://t.co/Yo1ImfoKHP
I BELIEVE Dynosauur will return the stolen @THORChain funds and go down as one of the most legendary whitehats in crypto history. ⚔️
The Verus Bridge exploiter just returned 4,052 $ETH ($8.5M) from the $11.58M exploit and kept 25% (~1,350 ETH / $2.8M) as bounty.
That changed the entire narrative overnight.
And honestly, after exposing such a critical weakness in one of the hardest cryptography and cross-chain systems ever built, even a 20-30% bounty feels fair to me.
The point has already been made.
The best minds in cryptography are now reviewing GG20, vault infrastructure, DKLS upgrades and every possible security path forward. THORChain will evolve and become even stronger from this.
Now there is a chance to turn this into a legendary moment for decentralized infrastructure instead of just another exploit story. 🍷
Return the funds.
Take the bounty.
Become the REAL Thorchad that helped make permissionless finance stronger for all the anons around the world.
Spread this message chads 👇
@Raynalytics@KentonC137@Patriotsounds@FelisNorwegicus@therunetard@RunemirQi@Fakk2
easy to dunk on tc today, but let's be real about the trade-offs.
there is no perfect solution for cross-chain swaps yet. stateless routing relies on backend solvers, and we all know providers like changenow or ff will shotgun kyc you the moment aml pressure hits.
stepping back from the exploit autopsy for a second: tc built massive liquidity pools and paid the price. but reading adr028, they publicly committed to maintaining protocol neutrality. they explicitly refuse to censor the attacker's swaps upon reboot.
we can debate math and threshold signatures all day. but maintaining absolute permissionless neutrality after a $10m drain takes serious guts.
flawed architecture maybe, but absolute cypherpunk ethos. massive respect to the builders holding the line.
THORChain Incident Update #4
Following the events of May 15th, the community has been hard at work defining a path forward. ADR028 is now published and a vote is open for Node Operators.
🔹 The Recovery Plan 🔹
The protocol will absorb the loss first through Protocol-Owned Liquidity and the remainder is spread across synth holders (The exact split between the two is still being evaluated).
By doing so, POL will be reduced to zero. The ADR proposes to redirect a portion of system income to replenish it over time.
No new RUNE is minted, no RUNE is sold, and no holder is diluted.
🔹 The Technical Decisions 🔹
GG20 is kept in place for now, patched and upgraded. Trading resumes only after the vulnerability is patched and a successful churn has occurred.
A slower, more security-conscious release cadence is also called for going forward.
🔹 The Slashing 🔹
Innocent nodes that end up being in the same vault as the attacker are protected. The attacker's node is slashed in full.
The recovered RUNE is paired with whatever assets can be recovered from the affected vault, and any surplus RUNE is burned.
🔹 The White Hat Offer 🔹
The attacker is offered a bounty to return the funds. If funds are returned partially, the recovery plan rolls back proportionally.
🔹 Protocol Neutrality 🔹
THORChain remains neutral and permissionless. The attacker's swaps will not be censored once trading resumes.
Node Operators are now voting on the overall direction and principles of this proposal. The figures in the ADR are indicative at this stage and will be adjusted later, notably via Mimir.
The goal is to restart the network as soon as possible. A yes vote is a green light for developers to continue building in that direction.
Full details of ADR028
https://t.co/l41nQAkf1k
For those who want to understand the full context of what happened, this article is for you: https://t.co/FPpl37vYxR
⚡Saturday 23rd, on the THORChain Podcast | Ecosystem & Community Spotlight at 10AM EDT / 2PM UTC.
@KentonC137 and @patriotsounds are sitting down with @QuaiNetwork .
Quai Network is building the world's first energy-based monetary system, combining scalable Proof-of-Work infrastructure with decentralised energy markets where energy becomes money.
Jump on stage and ask your questions live: https://t.co/AUD5BPlPXv
THORChain Exploit Report #1 is now live.
Full timeline of the May 15 incident, how the security layers responded, and what comes next via ADR-028.
https://t.co/8QXfeKxwva
The new https://t.co/ShpC1XJKin📷 is finally live. 🔥
And to make it absolutely clear:
⚠️ There is NO other official THORChain website besides https://t.co/ShpC1XJKin📷
Be careful with fake domains, impersonators and scam links especially during turbulent times.
The new site is a massive improvement compared to the previous version:
→ cleaner branding
→ easier navigation
→ better ecosystem explanation
→ more professional first impression
→ much stronger foundation for future growth
People underestimate how important this is.
For years, one of @THORChain’s weakest points was never the tech itself.
It was the presentation layer for new users.
Now the protocol finally has a website that better reflects the scale of what has been built. ⚔️
There are still some SEO and optimization improvements that can be made over time, but the direction is absolutely right. 📈
And honestly, this is where the community shines.
Builders, marketers, designers, node operators, analysts, devs, content creators… everyone can help push the ecosystem forward.
I’m here to help however I can. 🛡️
MWM #158 Recap 🎧
Big focus this week: ongoing recovery efforts following the recent TSS vault incident affecting THORChain.
Current Status
· Maya temporarily halted trading and LP actions as a precaution while investigations continue
· Current analysis suggests Maya’s vault was likely not affected
· If verification continues to hold, Maya may be able to resume trading and LP actions sooner than expected
· Churning will remain paused until additional protections and patches are implemented
Recovery & Security
@AaluxxMyth explained that vault integrity can be analyzed individually, helping identify which vaults remain safe while recovery work continues.
A patch is already being prepared with additional validation checks designed to strengthen vault formation and help prevent similar situations in the future.
Independent Infrastructure
· Maya and THORChain continuing as separate protocols remains an important part of maintaining redundancy across cross-chain infrastructure
· By operating independently rather than as a merged network, each protocol can respond and recover according to its own situation
Despite the current focus on recovery efforts, work on Cardano and future roadmap items continues, although some timelines may shift while security work remains the priority.
Huge shoutout to validators, arbitrageurs, node operators, and community members who helped coordinate and respond quickly during the incident.
Listen to the full space for the full discussion and updates 🎙️
https://t.co/x7Zox6xUwL
@_Z3r0wTraders@PragmaticMonkey Everyone deserves to be a whale.
We must embody the true ideals of cypherpunk; create a fair and equal financial system that is accessible and ownable by anyone