THORChain approves plan to restructure $200M debt
THORChain’s node operators approved a plan to convert $200 million in debt into equity tokens, but community members are raising concerns over its long-term viability. Source link
THORChain ‘eerily similar’ to Terra Luna implosion: Osmosis co-founder
Sunny Aggarwal, Co-Founder of Osmosis, believes THORChain’s liquidity issues mirror the 2022 Terra Luna collapse. THORChain, a decentralized cross-chain liquidity protocol, has paused its network operations due to a significant debt crisis amounting to nearly $200 million. This move has drawn parallels to the 2022 collapse of Terra/Luna, with Sunny Aggarwal, Co-Founder of Osmosis, a […]
THORChain pauses Bitcoin, Ether lending amid insolvency risks
THORChain temporarily suspended lending and savers programs to prevent insolvency and safeguard liquidity providers. Source link
THORChain suspends network to address $200M debt
On Jan. 24, THORChain announced via X that it had paused its network due to excessive debt and leverage issues impacting its ecosystem. The platform owes nearly $200 million in ecosystem debt. In DeFi, ecosystem debt occurs when a blockchain owes more tokens than it holds, as seen with THORChain’s current situation. This often results […]
