DeFi Network Thorchain Faces $200 Million in Toxic Debt—Here's What's Going On

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Decrypt 2d ago

DeFi Network Thorchain Faces $200 Million in Toxic Debt—Here's What's Going On - Decrypt

Quick Summary:

Thorchain community members fear the protocol’s savers and lending programs have imperiled its future.

That amount from depositors includes $57 million worth of Bitcoin and $16 million worth of Ethereum, per a Thorchain dashboard.

The decision was established “via nodes,” according to Thorchain founder JP Thorbjornsen, who said on X that the move gave Thorchain’s community 90 days to come up with a restructuring plan, while instructing “everyone [to] chill.