ThorChain Hits Pause on Loans & Savers Due to Debt Crisis
- ThorChain pauses loans and savers for up to 90 days to safeguard the network.
- Swaps remain unaffected, ensuring uninterrupted functionality for users.
- Community involvement encouraged restructuring of ThorChain’s economic design.
ThorChain, a decentralized swap provider, has announced a temporary halt to loans and savers for not more than 90 days. The move is intended to stabilize its network and protect liquidity providers (LPs). While swaps will remain fully operational, the team stressed the need for a community-driven proposal to refine its economic structure.
To prevent any unforeseen events, the team has also cautioned against restarting lending or redemption features without community consensus. The team recommended using specific node commands like “PAUSELOANS” and “BURNSYNTHS” to enforce the pause effectively.
This announcement comes as concerns grow about ThorChain’s economic and security design. Some community members even compared ThorChain’s current crisis to the $LUNA fiasco, raising questions about whether $RUNE could meet a similar fate.
ThorChain in Crisis, Extreme Fixes Proposed
One user warned of a catastrophic outcome in the event…
The post ThorChain Hits Pause on Loans & Savers Due to Debt Crisis appeared first on Coin Edition.
Read More
ThorChain Hits Pause on Loans & Savers Due to Debt Crisis
- ThorChain pauses loans and savers for up to 90 days to safeguard the network.
- Swaps remain unaffected, ensuring uninterrupted functionality for users.
- Community involvement encouraged restructuring of ThorChain’s economic design.
ThorChain, a decentralized swap provider, has announced a temporary halt to loans and savers for not more than 90 days. The move is intended to stabilize its network and protect liquidity providers (LPs). While swaps will remain fully operational, the team stressed the need for a community-driven proposal to refine its economic structure.
To prevent any unforeseen events, the team has also cautioned against restarting lending or redemption features without community consensus. The team recommended using specific node commands like “PAUSELOANS” and “BURNSYNTHS” to enforce the pause effectively.
This announcement comes as concerns grow about ThorChain’s economic and security design. Some community members even compared ThorChain’s current crisis to the $LUNA fiasco, raising questions about whether $RUNE could meet a similar fate.
ThorChain in Crisis, Extreme Fixes Proposed
One user warned of a catastrophic outcome in the event…
The post ThorChain Hits Pause on Loans & Savers Due to Debt Crisis appeared first on Coin Edition.
Read More