THORChain: Launch a 90 day restructuring plan and suspend THORFi lending and savings redemption
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PANews|Jan 26, 2025 10:03
The decentralized liquidity protocol THORChain posted on X platform this morning, stating that "node operators have implemented a 90 day suspension of THORFi lending and savings redemption to protect the core functions of the network. This ensures that Swap, liquidity provider (LP) operations, and RUNE transfers remain fully operational, and the network continues to handle a large volume of Swap transactions. In the next 90 days, the focus will be on community driven proposals to responsibly restructure liabilities while protecting the long-term health of the agreement. The proposal is being submitted on Discord, the THORChain developer community. Next step: Node operators will meet with proposal authors early next week to listen to their presentations, raise questions, and discuss solutions. This open dialogue ensures that all voices are heard, and we work together to seek the best results for the internet. THORChain continues to operate at full capacity, fulfilling its mission of decentralized cross chain liquidity. Despite the existence of FUD, core functions such as Swap, LP operations, and RUNE transfers are still proceeding smoothly, processing a large number of transactions
Related reading: Trapped in a nearly $200 million debt crisis, former celebrity's cross chain project THORChain launches restructuring plan to save itself
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