J

[Mark Jeffrey @markjeffrey]

My understanding of what's going on with $RUNE right now:

- Validators have used a multikey to pause Thor Lending repayments.

- Regular cross-chain DEX operations of Thorchain remain functional -- nothing else of than *Lending repayment specifically* is impacted.

- Why? Repayments mint $RUNE (to buy back collateral), which depresses $RUNE, which scares more loan-holders into repaying, which mints more $RUNE to sell for collateral redemption, etc.

- The fear is that a run on the $RUNE redemptions will be catastrophic.

- Will it? The size of Thor Lending is pretty small compared to the rest of the chain functions -- it could probably actually handle a full run at present, all things being equal. (There is debate on this, but my guess is that this statement is true)

- ... But if Bitcoin price suddenly jumps to say $500K, that means it's now 5x the $RUNE (at current price) that must be minted and sold to buy the collateral to return to the loan repayer. THAT might be too much for the system to handle.

- So. The idea is to pause things so as not to interrupt the cross-chain DEX part of Thorchain, which is working great and is very profitable, and restructure the Lending on Rujira, the upcoming, side-chain DeFi app layer of Thorchain.

I am all for this idea, I think it's wise to pause it for system and chain safety.

[SEED Combinator 🌱 @SeedCombinator]

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[SEED Combinator 🌱 @SeedCombinator]

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[J @JhefBG0]

@Rickcoincrypto

[J @JhefBG0]

@OskBTC9 @Rickcoincrypto @RickDAOcrypto Excelente oportunidad 🚀

[J @JhefBG0]

@RickDAOcrypto @Rickcoincrypto Esto recién comienza 🚀

[RickDAO @RickDAOcrypto]

Welcome to RickDAO: The future of governance and Defi.

Hey @Rickcoincrypto, we ready?

[J @JhefBG0]

@the_yescoin Yes

[J @JhefBG0]

@the_yescoin @tonappshq @ton_blockchain @telegram 🔥

[J @JhefBG0]

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[Rumble Kong League @RumbleKongs]

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[Rumble Kong League @RumbleKongs]

A storm is coming, are you ready?

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[Rumble Kong League @RumbleKongs]

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[Rumble Kong League @RumbleKongs]

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[J @JhefBG0]

@RumbleKongs @Gatorade 🔥

[J @JhefBG0]

@Rickcoincrypto Rick Coin next gem 💎🚀

[J @JhefBG0]

@Rickcoincrypto 0xa81e46927065E771998315406a98b824c902a60A

[J @JhefBG0]

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[J @JhefBG0]

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[J @JhefBG0]

@rickcommunity @binance @bitgetglobal @CoinMarketCap @Rickcoincrypto @ElonMuskPDA @kucoincom @CoinMarketCap