📢💡 Summary of the official message from THORChain:
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Thank you to the community, node operators, and developers for your commitment at this critical time for the network. On January 23, after intense discussions about the risks of THORFi, node operators voted to pause Lending and Savers refunds, as THORChain accumulated ~$200M in liabilities.
As a result, 31 validators exited, liquidity dropped by ~$100M, and the price of $RUNE sink suffered a sharp drop. However, the network remained operational, running cross-chain swaps and generating revenue.
The community proposed 8 restructuring plans, and node operators approved “Proposal6,” submitted by Maya Protocol’s @AaluxxMyth. This plan will convert ~$200M of debt into a new token that will receive 10% of the network’s revenue in perpetuity.
📌 Key points of the approved plan:
Affected users will be able to claim 1 token for every $1 of debt.
The THORChain treasury will fund a liquidity pool for these tokens.
The community will receive further updates as the plan is implemented.
What does this mean for $RUNE? 🤔
⚠️ Immediate impact:
🔸 Strong uncertainty in the market. The price of$RUNE has already fallen and may remain volatile until there is clarity on implementation.
🔸 Some holders may sell, generating further downward pressure.
🔸 Possible loss of confidence in the short term.
✅ Possible long-term benefits:
🔹 The new token may attract investors interested in ecosystem revenues.
🔹 remains the main currency of the protocol and may stabilize over time.
🔹 THORChain has proven capable of handling crises without halting operations.
📉 Is it time to sell or buy $RUNE?
While the price drop is creating uncertainty, the network is still functioning and a plan is in place. The next few days will be key to assessing whether the market regains confidence in THORChain or whether risks persist.
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