THORChain Ships V3.​15.​0 Protocol Upgrade with 41 Improvements

A community member has challenged CoinGecko's Bitcoin DEX rankings, pointing out apparent inconsistencies in how platforms are classified. The rankings currently show: - **ChangeNOW** listed at #1 with 99.8% market share, despite being a custodial aggregator - **Magic Eden** included, though it trades Runes NFTs rather than Bitcoin swaps - **THORChain** absent from the list, despite processing $118 billion in native BTC swaps through 100+ independent node operators The question raises concerns about what qualifies as a "decentralised" exchange in CoinGecko's methodology. If platforms with custody or validators can be classified as DEXs, the absence of THORChain - which operates with native Bitcoin swaps and no wrapped assets - appears inconsistent. The issue highlights ongoing challenges in the industry around defining and categorizing decentralised infrastructure.

THORChain is expanding its community engagement by launching its first video stream across X and other platforms. **What's Happening:** - Weekly THORSday streams will feature core contributors @CBarraford, @patriotsounds, and @KentonC137 - Content will cover latest protocol updates and alpha insights - Stream links will be shared just before going live **Why It Matters:** The move from audio-only X Spaces to video streaming represents a shift toward more accessible community communication for the cross-chain liquidity protocol. Tune in for the latest developments in decentralized swaps, lending, and liquidity provision.

**DeFi functionality is now live on THORChain** through the Rujira Network, marking a significant expansion of the protocol's capabilities. **Key features now available:** - Orderbook trading - Perpetual futures contracts - Lending markets - Native asset support including BTC, ETH, and XRP This development allows users to access advanced DeFi services while maintaining custody of their native assets, without requiring wrapped tokens or bridges. The integration builds on THORChain's existing cross-chain liquidity infrastructure.

**The bridge problem persists** - Cross-chain bridges remain a major vulnerability in crypto, with billions lost to hacks and exploits over the years. **Native settlement as the solution** - Instead of wrapping assets and moving them across bridges, native asset settlement allows traders to swap assets directly on their original chains. This eliminates the need for trusted intermediaries and reduces attack surfaces. **How it works:** - Assets stay on their native blockchains throughout the entire trade - Decentralized protocols coordinate swaps without custodial risk - No wrapped tokens or bridge contracts to exploit **The infrastructure shift** - Major wallets and exchanges are beginning to integrate native settlement rails, moving away from traditional bridge-dependent architectures. *This represents a fundamental rethinking of how cross-chain liquidity should work - prioritizing security over convenience.*

**Most crypto users don't realize what happens behind the scenes when they swap tokens.** Many popular apps hide critical infrastructure like bridges, wrappers, or custody arrangements that users never explicitly consent to. Once you hit the swap button, there's no reversing the transaction. **The risks:** - Your funds could be compromised - Assets might get frozen without warning - You may unknowingly give up control of your crypto Protocol design matters more than convenience. Understanding the architecture behind your favorite swap app should happen *before* you execute trades, not after something goes wrong. [Read the full breakdown from Defiant News](link)