Since the rune holder is awakened to the worse news and the price of a sudden falling token, the cross -chain replacement protocol with a problem in the majority of passing proposal 6, “Do users get liquid again?”
Sorachine “Spiral of Death”
On January 24, CryptOSLATE reported that Thorchain had reported $ 1999 million and then stopped the withdrawal of Bitcoin and Ethereum in the lending and savings program. Runes decreased by almost 30 % to $ 1.90, as the community was waiting for a reorganization plan to secure long -term execution possibilities to deal with protocol debt. At the time of writing, Rune has decreased by 45 %, and is currently trading at $ 1.08, the lowest since 2020.
“If someone can see this is coming,” said Sunny Agalwal, a co -founder of the penetration, posted with emojis with “obviously” eyes.
“Crypto Educator @cosmoshoss seems to have called Thorchain Rune Death Spiral long ago, but most of him ignored him.”
When the fuel is added to the fire, the founder John Paul (JP ‘) Thorbjornsen has been undergoing intense scrutiny of potential conflicts and activities to manage multiple projects. On the other hand. The private chat between the Node and the Core Contributor TB is a screenshot, and despite working hard to save the protocol, he revealed that he had sold all runes.
“I couldn’t identify the next buyer and couldn’t identify what the validator was trying to sell,” he said. I don’t intend to stand there like an idiot. “
Later, 26 nodes followed the lawsuit (about 20 % of the network). This supports about 20 million runes, which can potentially guilty up to dump on the market.
Solutions for “re -liquid users”
Despite the interior struggle and the screams of the negative attempt to “bother zero,” many members of the Sochain Community maintain their commitment. THORBJORNSEN has posted, such as “GM doesn’t go anywhere”, and argues that supporters like Shapeshift’s CEO and the industry OG ERIK VOORHEES will maintain “enthusiastic supporters.” I repeatedly worked on X to guarantee the conviction.
When the Thorchain team worked in a 24 -hour system and changed the tide of the fate of the protocol, the community unanimously voted for the proposal to “re -use the user again” and the default liability Converted to $ TCY Equity without anything. “Proposal 6 was passed by the majority of the majority. Thorbjornsen intervened to provide certainty and method.
In this proposal, by distributing TCY to users affected, 10 % of the 10 % paid paid by RUNE will be paid forever. This plan aims to enhance the capital efficiency, and to attract the protocol a new liquidity. By amortization of debt and remuneration nodes and DLPS that stay in the protocol, it aims to “boring and bored again”.
In the next few days and a few weeks, we will reveal how Thorchain navigates this important time and whether it can avoid falling into the failed encryption project.
