The commitment to progress continues. A viable path ahead is recognized, and the dedication to this network and its users is unwavering.
The commitment to progress continues. A viable path ahead is recognized, and the dedication to this network and its users is unwavering.
Current Status
As of now, there have been 31 node exit requests from the network. The ongoing contraction is attributed to a decline in RUNE prices and node departures; however, the core blockchain functions and swap capabilities
remain intact. Many integration partners have paused activities to safeguard user interests amid the current volatility.
Proposed Path Forward
Nine Realms suggests executing the existing version of the Priority Haircuts proposal. This would allow Savers and Borrowers to exit their positions with an improving haircut over time as stability and network
health are restored. Despite the network's contraction, the remaining nodes and liquidity are sufficient to continue generating revenue for the unwind
plan.
A vote among node operators will be initiated immediately to validate the implementation of this strategy.
Message to the Community
Nine Realms is resolutely committed to maintaining the network's operation, striving to ensure that Borrowers and Savers are made whole. The belief stands that executing the proposal offers the best chance for
the network's survival. To the ecosystem developers and contributors: your longstanding contributions to THORChain are greatly valued. The development of additional chain integrations and the AppLayer is essential for the network's ongoing
growth.