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THORChain Quarterly Report: Volume and Fees Recovered

THORChain reported $3.82 billion in swap volume and $5.77 million in swap fees in Q3 2026, nearly doubling Q2's figures. The protocol-owned liquidity (ADR-024) now receives 20% of system income. Validator churn resumed with 103 active nodes by quarter-end, up from 95 in July. The report covers July–September, with v3.21.0 released and ZEC swaps back this week.

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