Decentralized exchange Thorchain halted fund redemptions on its defi products on Friday amid rumors of potential insolvency but claimed that the rest of its network is “operating as normal.”
The platform facilitates the exchange of native assets and enables defi activities such as lending and borrowing. Thorchain’s Savers product allows users to deposit and earn yield on native assets, while its Lending product offers loans in dollars (USD) when users deposit crypto collateral. Community members typically refer to these defi products as “ThorFi.”
But on Thursday, a Thorchain core developer, known only by his pseudonym, “Orion,” posted a dire message on the platform’s Discord server urging the community to suspend redemptions of the network’s defi products in order to maintain “network stability.”
(Screenshot of Thorchain core developer urging the community to suspend redemptions / Thorchain Discord server)
“To safeguard LPs [liquidity providers] and maintain network stability, we are recommending nodes vote to temporarily suspend ThorFi redemptions,” Orion wrote. “We will work with the community to develop a structured withdrawal process that balances the needs of Lending and Savers depositors with network sustainability,” he added.
He assured the community that the suspension would last no longer than ninety days and that regular native asset exchanges would remain operational.
It appears the Thorchain community heeded Orion’s plea, and on Friday, another Thorchain core developer confirmed that the vote had gone through and the community had decided to temporarily pause redemptions as recommended.
“Following a vote by node operators, redemptions for Thorfi Lending and Savers products have been temporarily paused,” the developer said. “Core functionalities remain fully operational.”
The protocol’s native token RUNE tumbled 31% on the news, according to data from Coingecko.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
