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THORChain, a decentralized protocol that facilitates cross-chain exchanges, has temporarily suspended its lending and savings programs in Bitcoin and Ethereum.
This move was approved by network node operators and is said to help prevent insolvency and restructure the protocol's obligations amounting to $200 million.
Orion, a pseudonymous developer of THORChain, announced on the project's Discord that the pause will last for 90 days. Exchanges will continue uninterrupted, but the halt aims to safeguard the network's stability and allow the community to develop a recovery plan.
THORChain, a decentralized protocol that facilitates cross-chain exchanges, has temporarily suspended its lending and savings programs in Bitcoin and Ethereum.
This move was approved by network node operators and is said to help prevent insolvency and restructure the protocol's obligations amounting to $200 million.
Orion, a pseudonymous developer of THORChain, announced on the project's Discord that the pause will last for 90 days. Exchanges will continue uninterrupted, but the halt aims to safeguard the network's stability and allow the community to develop a recovery plan.
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