In this series, LPU aims to give regular condensed “state of THORChain” updates. Enjoy!
1. Best Effort Refunds for Deposits into Retired Asgard Vaults
On 2-Jul, a refund was executed, on a best effort basis, for a deposit Tx sent to a retired Asgard Vault: https://viewblock.io/thorchain/tx/A899361FBCA7B37BBDD609AD83B2A6D1864C5E967D36C2B80BCC3BB0024DEFAF
This will only be possible if 67% of nodes are still active for the specific Asgard vault, limited to the last 500k THORChain blocks (approximately 34 days). Also, this feature is only for gas assets deposits.
2. Streaming Swaps
On 7-Jul, v1.115 was rolled-out, bringing an exciting feature called Streaming Swaps. Read here for details. Devs took some time to test the feature on Stagenet, before raising ADR 010 on 23-Jul. On 26-Jul, after no dissenting votes were received, the feature was enabled on Mainnet.
First streaming swap transaction: https://viewblock.io/thorchain/tx/D7612777A110B666D9C29DF410CEA5A328592FA9B3BFC72B6CE9223E81C321C8
3. Completion of Killswitch
BEP2 & ERC20 $RUNE are no longer upgradable to native $RUNE, starting block 11,756,000, which was passed sometime on 18-Jul-2023. Killswitch was started on 19-Jul-2022, when BEP2 & ERC20 $RUNE started losing value linearly, from 1:1 vs native RUNE to 0:1 after one year. Current supply of $RUNE is now around 486m. Reference: https://medium.com/thorchain/upgrading-to-native-rune-a9d48e0bf40f
4. Preferred Assets for Affiliates
In v1.116, Preferred Assets for Affiliates were enabled. This means interfaces can collect their affiliate fees in any asset they want. THORChain will accumulate the affiliate fees, then auto swaps and pays out once the value is 100x greater than the outbound fee for that chain (so only 1% lost on gas). This improves the flexibility and eases the integration process for the interfaces.
https://twitter.com/thorchain/status/1681477740447559680
5. Clear Pending Liquidity
Pending liquidity happens for symmetrical deposits where only one side (whether RUNE or Asset) was successfully added. In the past, users will not enjoy any yield, while protocol still has to secure the pending liquidity. Starting from v1.116, the protocol will auto-convert pending liquidity deposits into an asymmetrical LP position, seven days after a pending liquidity was received (without completion of the deposit of the other asset). Users will start to receive yield from their LP, and the pool depths will be deepened.
6. Treasury LP Rebalancing
On 26-Jul, THORChain Treasury started executing some rebalancing of LP positions. Treasury will withdraw from BEP2-BTC, ETH & BUSD LP positions (without claiming any ILP); then execute streaming swaps to native BTC, ETH & ERC-20 USDC respectively; and then finally re-enter into native BTC, ETH & ERC-20 USDC LPs. This is in response to the sunset of BUSD redemption (as announced by Binance/Paxos) and reduced focus on BEP2.
Feel free to hop into the TC University Discord to chat about this, or any other THORChain questions that you may have.
Explore THORChain: Website, X, Telegram, Developer Discord.
Explore Maya Protocol, the first friendly fork of THORChain: Website, X, Discord, Telegram.
Decentralized, permissionless, non-custodial, trust-minimized, open-sourced, economic-secured, non-wrapped, native-to-native cross-chain swaps, savings and soon, lending!
Related articles
![THORChain May 15, 2026 Exploit Report #1]()
May. 20, 2026
THORChain Exploit Report #1
![]()
May. 14, 2026
Explanation of the 6 Preset Strategies to Help Create Your CCL Strategy
![]()
May. 13, 2026
The Casino Problem: When Crypto Forgets What It Was Built For
![]()
May. 12, 2026
THORChain Protocol Upgrade v3.18
![]()
May. 11, 2026
Dash is coming to THORChain
![]()
May. 8, 2026
Monero Merged, Reserve Burn, Marketing Update | Podcast #196
![]()
May. 7, 2026
Marketing Update: Feb - March 2026
![]()
May. 5, 2026
RUJI Staking Rewards Are Live, Earn Real Protocol Revenue on Rujira
![]()
May. 4, 2026
Bior Labs Cards Are Imminent: Bill Pay, $10K Virtual Cards and a Stablecoin Alpha
![]()
May. 2, 2026
Live from Bitcoin Vegas: 2 bps Stable Swaps, v3.18 Next Week and the Affiliate Revshare Plan
![]()
Apr. 30, 2026
THORChain Quarterly report - Q1 2026
![]()
Apr. 29, 2026
bRUNE Staking Cap Increased to 2 Million, How to Stake, and Earn THORChain Yield
![]()
Apr. 28, 2026
Protocol Upgrade - v3.17.0
![]()
Apr. 27, 2026
Unstoppable: The Best Privacy Wallet – THORChain Mobile Interface
![]()
Apr. 24, 2026
THORChain Stands for a Permissionless and Decentralized Ethos














