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THORChain’s governance body has passed Proposal 6 as part of its restructuring efforts to resolve a nearly $200 million debt crisis.
A shallow RUNE/TCY pool will be established at $0.10 per TCY, with $5 million in treasury funds allocated for strategic buybacks over ten weeks in a bid to ensure a more stable price discovery process. The proposal also introduces Liquidity Nodes to ramp up capital efficiency and offset forfeited fees, thereby strengthening governance participation for liquidity providers.
The latest development comes after the decentralized cross-chain liquidity protocol temporarily suspended its THORFi services on January 23rd in response to financial instability and insolvency rumors. “The Jan 23 pause set the conditions for community members to decide on a restructuring plan to ensure the network’s continued operation while compensating Lending and Savers users. The community stepped up, proposing 8 independent plans, which were reviewed and voted on by Node Operators.”
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