Hassan Maishera
On Wednesday, the Thorchain team announced via X that the Thorchain V.3.17.0 upgrade is now live on mainnet. While no major new features are introduced, this upgrade focuses on what matters most: improving stability, security, and overall user experience across the network.
The upgrade implements the RUNE supply restructuring by reducing the effective supply held in the reserve, aligning total supply more closely with circulating supply. This improves transparency around tokenomics and ensures metrics like FDV better reflect the actual economic reality of the network.
It introduces a new governance proposal to migrate the development fund from a single custodian to a 2-of-3 multisig. This improves decentralisation of fund control and updates the long-term governance structure around development funding.
The update implements the migration of the development fund to the new multisig address, ensuring future fund distributions follow the updated governance structure. It also removes the existing bug bounty program, including payout structures and scope definitions, while preserving responsible disclosure channels. This reflects a shift in how security reporting is managed going forward.
Finally, it introduces a configurable minimum slip parameter for stable-to-stable swaps, allowing the protocol to override default fee behaviour in low-volatility pairs. This improves fee consistency and gives more control over pricing dynamics in stable asset swaps.
V3.17.0 redirects over-solvency sweep proceeds to a dedicated treasury address instead of the reserve. This updates how excess funds are routed and improves treasury-level accounting.
THORChain is a decentralized cross-chain exchange where traders can swap cross-chain assets via liquidity pools across Binance Chain, Ethereum, and Bitcoin. RUNE is down 5.9% today and is currently trading at $0.4948.
