THORChain has paused its THORFi operations, initiating a 90-day restructuring plan. This decision comes amid financial troubles and claims of insolvency, highlighting challenges with its lending and saving programs.
The native token, Rune, has dropped by 30% in value over the past 24 hours, raising concerns about THORChain’s ability to meet obligations to creditors due to inadequate Bitcoin reserves.
In response to the liquidity crisis and the potential for a crash reminiscent of Terra/Luna, community members are discussing economic redesign proposals to stabilize THORChain and its network operations.
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