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. We need to ensure the structure: lead paragraph, then sections with H2s. In the content string, use as root. Let's write the final content: THORChain rolled out version 3.20 this week, adding native support for Monero (XMR) and Zcash (ZEC) swaps. Users can now trade both privacy coins directly against Bitcoin, Ethereum, and stablecoins through the protocol. No wrapped tokens, exchange accounts, or centralized custodians involved.
Why privacy coins needed this
Centralized exchanges have been restricting or removing Monero due to regulatory and compliance concerns, making it harder for XMR holders to get into the wider crypto market. THORChain's upgrade offers a direct workaround: swap XMR or ZEC for BTC, ETH, or a stablecoin without leaving the protocol. The new native support also means you don't have to trust a bridge or a wrapper contract.
Stablecoin swaps at zero fee
Also new is the Stable Reserve, which enables stablecoin-to-stablecoin swaps without any liquidity fees. Move USDC to USDT, or DAI to USDC, and you pay nothing on the swap. That's a small but real improvement for anyone who frequently shuffles between stables, and it gives THORChain a better position in the stablecoin arena.
Protocol-Owned Liquidity
THORChain is introducing Protocol-Owned Liquidity (POL). The protocol will deploy its own capital across the network, rather than relying only on external liquidity providers. That's a shift toward a more self-sufficient model, where THORChain itself has a stake in the pools it runs.
Solana, Base, and BNB renewals
The 3.20 upgrade also renews support for Solana, Base, and BNB networks. Those chains had been paused, but they're back now, meaning swaps across those networks are available again. That's a wider range of cross-chain paths for users.
The upgrade is live as of this week. The next thing to watch is how much volume the native XMR and ZEC pairs actually pull in, and whether the zero-fee stablecoin trades pick up. Regulators have been tightening around privacy coins, so it's not hard to guess that some attention might land on THORChain next.
THORChain rolled out version 3.20 this week, adding native support for Monero (XMR) and Zcash (ZEC) swaps. Users can now trade both privacy coins directly against Bitcoin, Ethereum, and stablecoins through the protocol. No wrapped tokens, exchange accounts, or centralized custodians involved.
Why privacy coins needed this
Centralized exchanges have been restricting or removing Monero due to regulatory and compliance concerns, making it harder for XMR holders to get into the wider crypto market. THORChain's upgrade offers a direct workaround: swap XMR or ZEC for BTC, ETH, or a stablecoin without leaving the protocol. The new native support also means you don't have to trust a bridge or a wrapper contract.
Stablecoin swaps at zero fee
Also new is the Stable Reserve, which enables stablecoin-to-stablecoin swaps without any liquidity fees. Move USDC to USDT, or DAI to USDC, and you pay nothing on the swap. That's a small but real improvement for anyone who frequently shuffles between stables, and it gives THORChain a better position in the stablecoin arena.
Protocol-Owned Liquidity
THORChain is introducing Protocol-Owned Liquidity (POL). The protocol will deploy its own capital across the network, rather than relying only on external liquidity providers. That's a shift toward a more self-sufficient model, where THORChain itself has a stake in the pools it runs.
Solana, Base, and BNB renewals
The 3.20 upgrade also renews support for Solana, Base, and BNB networks. Those chains had been paused, but they're back now, meaning swaps across those networks are available again. That's a wider range of cross-chain paths for users.
The upgrade is live as of this week. The next thing to watch is how much volume the native XMR and ZEC pairs actually pull in, and whether the zero-fee stablecoin trades pick up. Regulators have been tightening around privacy coins, so it's not hard to guess that some attention might land on THORChain next.
