The DeFi protocol THORChain has fully restored its network and reopened trading after more than a month of technical downtime. The project's team announced that all core functions, including asset swaps, liquidity provider operations, and the secured custody mechanism, are once again available to users.
Restoring the Network
The relaunch marked the final stage of THORChain's recovery from the May hack, which cost the protocol $10.7 M and forced it to halt trading. In the days leading up to the network's return, developers ran a series of infrastructure checks, testing the asset custody mechanisms and validator operations.
On June 19, THORChain announced that the network had entered the final stage of recovery. At that point, operators were verifying the integrity of the infrastructure ahead of a vault rotation — a technical procedure in which assets are moved into a new custody system.
On June 21, the team announced the start of the network's vault upgrade process. Developers clarified that most of the checks had been completed successfully and that funds had begun moving out of the previous vault addresses into the new asset custody system. Trading was still unavailable at that moment.
What Will Change After the Recovery
On June 23, the protocol confirmed that the recovery was fully complete and that trading had returned.
“Every stage of the infrastructure review was carried out with security and stability as the top priority, which is why the recovery took longer than initially expected,” the project's team said.
Following the launch, developers revealed plans to expand the network further. The next step will be support for native Monero swaps, which is already in testing. After that, the team intends to add Zcash support, overhaul the fee system, and increase the liquidity available within the protocol.
Read also: