KEY FACTS: THORChain is set to launch its V3.11.0 upgrade, featuring the innovative Rapid Swaps functionality, expected to roll out this September, enhancing cross-chain trading efficiency by processing multiple swap rounds in a single block. This upgrade, driven by 25 merge requests, introduces Limit Swaps with a 3-day Time-To-Live mechanism, a Marketing Fund that redirects 5% of protocol revenue to boost the RUNE economy, and economic stability measures, including the ReserveMaxCap Mimir. The upgrade is considered a game changer in the decentralized finance sector.
Source: THORChain
THORChain Unveils Rapid Swaps with V3.11.0 Upgrade
THORChain, a leading cross-chain decentralized exchange protocol, is set to launch its highly anticipated V3.11.0 upgrade, featuring the groundbreaking Rapid Swaps functionality. Scheduled to roll out from mid-September 2025, this upgrade promises to revolutionize the efficiency of cross-chain trading, aligning with a broader surge in decentralized finance (DeFi) adoption amid rising geopolitical tensions and vulnerabilities in centralized systems. The announcement was made via the official THORChain X account on September 17, 2025.
The timing of this upgrade could not be more poignant. In early 2025, a major centralized cryptocurrency exchange suffered a high-profile security breach, exposing weaknesses in traditional platforms and driving users toward decentralized alternatives. This incident, coupled with a recent U.S. House Select Committee report released in September 2025, has heightened concerns over data security. The report highlighted how foreign entities are exploiting vulnerabilities in American university research, including emerging technologies like blockchain, to gain strategic advantages. THORChain’s move to enhance its infrastructure with Rapid Swaps positions it as a resilient player in this evolving landscape, offering a censorship-resistant solution for trading native assets across multiple blockchains.
Rapid Swaps, a core component of the V3.11.0 upgrade, introduces the ability to process multiple rounds of swaps within a single block. This innovation leverages an Advanced Swap Queue with configurable iterations (starting safely at one by default) enabling faster execution, higher throughput, and a smoother user experience. The feature is complemented by the introduction of Limit Swaps, which include a 3-day Time-To-Live (TTL) mechanism to automatically close unexecuted trades and return funds, ensuring system cleanliness and user trust.
The development of Rapid Swaps builds on 25 merge requests, a testament to the collaborative effort of THORChain’s developer community. According to the upgrade announcement, a new Mimir (a governance tool controlled by network nodes) allows operators to activate the Advanced Swap Queue, while telemetry enhancements via Prometheus metrics provide detailed visibility into queue performance. These metrics, covering iterations, queue depth, market versus limit swaps, completed transactions, and total USD values, equip operators with the data needed to optimize performance and create advanced dashboards.
Limit Swaps, another highlight of the upgrade, mark a significant evolution for THORChain. By introducing a TTL of three days, the protocol ensures that unfulfilled limit orders are automatically canceled, returning assets to users. This feature, described as the "last piece of code needed" for deployment, paves the way for a more orderbook-like trading system, a development that mirrors experiments with central bank digital currencies (CBDCs) gaining traction globally in 2025.
Beyond trading enhancements, the V3.11.0 upgrade introduces a Marketing Fund, redirecting 5% of the protocol’s revenue to boost adoption. This move comes at a critical juncture, as THORChain’s native token, RUNE, has experienced a 93% drop from its all-time high, according to an August 2025 analysis by 99bitcoins.com. To offset potential impacts on yield for stakeholders, such as TCY holders and nodes, the upgrade includes a ReserveMaxCap Mimir. This mechanism caps the Reserve balance, redirecting excess RUNE back into the network when the cap is exceeded, ensuring economic stability.
The Marketing Fund’s launch, approved via ADR021 and included in the upgrade, reflects THORChain’s strategy to compete in a crowded DeFi market. With BTC/ETH trade volumes spiking in 2025, as noted by market analysts, the protocol aims to capitalize on growing demand for efficient cross-chain solutions. Additional upgrades, such as whitelisting TRON’s USDT and rebalancing gas fee multipliers, further enhance price efficiency and protect users from overcharging on outbound transactions.
Rapid Swaps’ ability to net out opposing trades instantly could challenge traditional financial systems, particularly as interest rate swaps in conventional markets faced volatility due to shifting Secured Overnight Financing Rate (SOFR) expectations in 2025. This feature, combined with THORChain’s use of RUNE for economic security, taps into a rising narrative of self-sustaining blockchain ecosystems. Unlike centralized crypto platforms criticized for relying on external funding, THORChain’s approach underscores its commitment to decentralization.
The upgrade also aligns with mainstream adoption trends, with integrations into wallets like Ledger Live and RangoExchange reflecting the broader incorporation of blockchain technology into traditional financial tools. As THORChain prepares to launch Rapid Swaps and Limit Swaps, the protocol is poised to redefine cross-chain trading, offering a trustless alternative to intermediaries and bridges - a stark contrast to the risks highlighted by recent centralized exchange failures.
As THORChain gears up for the V3.11.0 deployment, the protocol’s focus on speed, efficiency, and economic resilience positions it at the forefront of the DeFi revolution. The introduction of Rapid Swaps and Limit Swaps, alongside strategic marketing initiatives, signals a bold step toward mainstream acceptance in a year marked by technological innovation and geopolitical uncertainty. For users and investors, the coming weeks will be a critical period to observe how this upgrade reshapes the landscape of decentralized finance.
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