THENA, the trading and business development hub of BNB Chain, has announced its V3,3 upgrade set to go live on May 22, as per the reports shared with Finbold on Wednesday, May 21.
With the upgrade, THENA hopes to redefine liquidity management and governance across decentralized finance (DeFi) and realizes its vision of a self-optimized, modular ecosystem.
To prepare for the transition, THENA has prepared an official guide and released an Open Beta version of the new interface.
Voting on V3,3 gauges begins on May 21, with emissions fully migrating to the new system by May 29 (at which point rewards on legacy pools will also end).
THENA V3,3 Plugins
At the heart of THENA’s V3,3 upgrade are the so-called Plugins, i.e., composable smart contract modules that let liquidity pools dynamically adapt their behavior.
As such, the Plugins are similar to Uniswap v4’s Hooks, although they are designed to meet the needs of the BNB Chain ecosystem specifically.
Plugins launching with V3,3 include volatility-based fees, a sliding fee scale, and an upcoming Brevis ZK Plugin for identity-based fee discounts via zero-knowledge proofs.
Developed in partnership with Algebra Integral, this architecture removes the need for redeploying pools and allows for liquidity strategies to evolve in real time, which is a unique upgrade for automated market makers (AMMs).
THENA’s Unified Gauge System
V3,3 also introduces a Unified Gauge System that will allow manual concentrated liquidity providers (CL LPs) to provide liquidity within specific price ranges.
In turn, they will receive non-fungible tokens (NFTs) representing their positions, which can be staked for THE emissions.
All emissions flow through a single gauge per pool and are governed by votes from veTHE holders.
Multi-epoch bribe campaigns
Governance on V3,3 is also redesigned with a new cross-chain voting system that allows veTHE holders to participate in governance across chains without bridging assets.
Moreover, holder votes now persist across epochs, meaning protocols can run longer bribe campaigns.
In addition, a new Chainlink Automation system allows for automated vote casting, reward acquisition, and lock extensions.
Finally, THENA is introducing the so-called Kyber-powered Zapper to lower liquidity provisioning barriers.
Namely, the Kyber-powered Zapper allows users to enter any pool, including concentrated liquidity pools, using just one asset.
Power users, on the other hand, can also define custom price ranges for more strategic and active liquidity management.
