The toir c

[AX1 @ax1vc]

Urgent proposal to acquire @THORChain and provide assistance to the holders and creditors.

As the protocol serves as an open-source community-driven, true Web3 building project, this proposal will be transparent and accessible to the public.

Unfortunately, we are witnessing the gradual decline of what was once a promising project.

Instead of achieving great results and hitting a new ATH, the community was blindsided by $200M in toxic frozen loans, facilitated without any warning and made possible through the use of an admin key.

Rather than concentrating on building Rune, the founder is pursuing nine different projects, leading to unclear strategies that raise numerous questions.

WeWe / Deca Swap / Vultisig / WeWe Swap / Thor / Ruji / Vamp / YIELDI / TraitForge

To prevent the current crisis, @jpthor needed to raise the large VC round by $50-100M, work on regulatory compliance, secure appropriate US network, and focus on @THORChain achieving 50-60% market fit along with Round C funding.

Unfortunately, the project currently lacks any backers. In fact, the bank run has not yet started, but if it does, an amount between $5-10M could lead to a collapse in price similar to what happened in the Luna case.

I understand that many supporters of the project are holding onto hope for a miraculous turnaround.
"That's it, that's it, yes, that's it tomorrow." However, it's often more prudent to analyze the facts, figures, and current situation.

Holders of the project are being misled, creditors are experiencing years of delays, and the founder is engaged in unclear schemes:

https://t.co/zFaC29a3Da

The entire Thorchain ecosystem relies heavily on the generosity of @TrustWallet, who are outstanding builders and the largest provider.

Previously, it was difficult to envision major new integrations for Rune. However, following recent events, we can only hope for a miracle.

Meanwhile, competitors are actively seeking to penetrate the remaining top sites, and those sites themselves are considering hybrid models (like Exodus, which is incorporating a CEX component and plans further refinements).

If @TrustWallet eventually decides to halt integrations or redirects volumes to a competing provider, we can only imagine the impact this would have on the price of Rune and the assets of its lenders.

At the same time, @TrustWallet demonstrates the potential for scaling, having nearly surpassed the 200M user mark and achieving a MAU count comparable to top-tier fintech like NuBank, all while maintaining a solid reputation and avoiding big management issues.

Our proposal is straightforward.
We're offering a syndicated deal in which:

1) Trust Wallet will acquire THORChain (let’s set aside discussions about decentralization for now; particularly when you understand the details and nuances involved).

2) Funds will be disbursed to creditors immediately, financed by a pool of VCs led by YZi Labs (formerly @BinanceLabs).

3) @EowynChen will assume the role of CEO for both companies.

4) Rune -> TWT.

5) A portion of the protocol's revenue will be allocated to marketing support for the unified on-chain asset (with genuine marketing efforts, not painted Cybertruck).

Results:
a) Creditors will receive an instant refund with interest.
b) Former RUNE holders will have a new asset that will consistently benefit from the protocol’s revenue, without relying on complex schemes.
c) TWT and Trust holders will see strengthened valuations and multiples.
d) Current contributors to the Thorchain protocol will receive bonuses, enjoy a stable future, and have the opportunity to safely develop the leading web3 product.
e) Support from the family office of @cz_binance.

Ultimately, this initiative will create the most reliable on-chain wallet with a swap provider in the industry.

[Runemir @RunemirQi]

There is so much energy in Thorchain, it's brimming with emotions, ideas, and intellectual curiosity.

People care, and that is a good sign.

Some are angry and they want to quit, but from what I saw today, I believe that a large majority are fully on board and want to see it through.

Various circumstances created this difficult situation, but the backbone is still firm, ready to carry the weight.

I'm bullish $RUNE, probably more than ever. I'm finding myself actually enjoying this whole drama.

Maybe I'm just too long in the trenches :-)

[Zack Guzmán @zGuz]

Re: @THORChain and their recent problems - I do think they will figure it out

I’ve been a user since around 2020. It’s a powerful project. Unfortunately they lost track of the North Star and built levered tools that weren’t the smartest additions

I thought most of the selling would stop when we hit $3.50 after the first decision to freeze things

Everyone has to make their own calls, but as I learned in LUNA, your number one priority as an investor in crypto is capital preservation

When risks change you have to appreciate that. When your thesis doesn’t pan out, despite the fact that every underlying metric seems to be improving (as was the case with THORChain) you should be asking why. Unfortunately, I didn’t answer that for myself closely enough before the savers drama got too obvious

For those who dig in, they will find a protocol that is unique, growing, and used by literally all the big wallets in the industry for swaps. Hard to see how that gets messed up again, because that alone is worth more than what THORChain is trading at right now

Tough decisions are never easy and clearly they will have to be made - but that is better than acting like everything is fine (and happens all too often in crypto.) I give a lot of credit to anyone building in public onchain trying to figure things out together.

For everyone in the community, I’m wishing for the best and appreciate @1984_is_today for the candid and frank explanation on things as they were unfolding

[Erik Voorhees @ErikVoorhees]

The @THORChain situation...

- Node operators voted this evening to pause Lending and Savers withdrawals. Deposits had been turned off a year ago as the community became increasingly concerned with the risk.

- Remaining debts and collateral positions from Lending and Savers are now frozen, and the community needs to figure out a way to address them. Thorchain is one of the most profitable protocols in the ecosystem, and there are likely multiple reasonable paths toward good resolution.

- Lending and Savers were two additions to Thorchain which were experimental. At this point, it's clear these designs failed, they were too risky. While these functions were not core to the protocol, their risk has been a dismal overhang for a while--nobody was sure how long it would take for users to clear out their positions.

- One of the major lessons is to avoid risky experiments at the base layer of these protocols, moving them to app layers where failure can be more graceful. This is an important design principle that the defi ecosystem should learn from. The lesson is not to stop experimenting, it is to mitigate risks when untested, and *assume* failure. Double-down on adversarial thinking; Thorchain did this well with its core DEX protocol, but failed in carrying forth that discipline into Lending and Savers.

- The Thorchain DEX (and blockchain) itself remains operational, swaps are not interrupted.

- LP's can deposit and withdraw also without issue

Permissionless cross-chain liquidity pools built on multi-party computation remains one of the most excellent demonstrations of decentralized financial technology ever built.

I remain an ardent supporter.

[THORSwap ⚡ #BetterThanCEX @THORSwap]

Cross-chain Swaps via @THORChain are fully functional on @THORSwap.

[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.

[//Bitcoin Hack Sorrow 🐐 @bitcoinjack]

Nobrainer considering news flow

[Smartmoney_Detective @NaveenCypto]

Fake news is being spread by Market makers that thorchain blockchain is paused , so they can short on perp .

Chain is working absolutely fine , transactions happening every second .

Only thorfi is paused . The main reason for $RUNE underperformance .

See positives , Now there are no shackles holding Rune downwards .

$RUNE upwards .

[Injective 🥷 @injective]

President Trump has signed an executive order establishing a Presidential working group for digital assets, initiating the development of a national digital asset stockpile and developing a Federal framework for governing crypto—a bold move toward reshaping U.S. financial policy.

This decisive action by @realDonaldTrump lays the foundation for a transformative era in digital assets, ensuring the U.S. remains at the forefront of innovation while protecting financial independence. The Injective team recognizes this as a pivotal moment for the blockchain industry and its integration into national policy.

Injective continues to lead by example, providing the infrastructure necessary to empower institutions and developers to create the next generation of financial solutions. Together, we are building a decentralized future that unlocks unparalleled opportunities for growth and innovation.

The future of finance will be made by Americans. It will be made on Injective.

[The Last Degenurai⚡ @degenurai]

Don’t take your eye off the ball, @THORChain is still a juggernaut and essential infrastructure for cross chain.

$Rune

[The toir c @toir_c]

@jpthor It seems to me that it's hard to teach you and you're deliberately provoking the closure of loans and a further drop in prices. You need to be removed from any decision-making.

[Rayyyk @raynalytics]

.@THORChain's volume on OKX @wallet soared to a new daily high.

OKX Wallet executed a $5M BTC-ETH swap via THORChain yesterday, pushing daily volume to an ATH.

Cumulative volume has now reached $763M since integrating THORChain 6 months ago.

Onwards. ⚡

[Pluto 🚢 @pluto_hbr]

Gm from Tokyo. @THORChain is the #5 chain by revenue #108 by market cap. Someday, long after the memes and anon pundits, coins will trade like every other asset, as a multiple of the value they create. Until then, we tune out the noise and keep building. $RUNE

[Phrex @CryptoPhrex]

$INJ is setting up for a massive run.

[WSB Trader Rocko 🚀🚀🚀 @traderrocko]

🚨 The #Rujira Merge is scheduled to go live on February 27th and TGE end of March, Bullish $RUNE #Thorchain 🚀🚀🚀

Any $KUJI holders still around?! 🙋‍♀️

[THORChain @THORChain]

bullish on DeFi

[The toir c @toir_c]

@thewolfofdefi @THORChain $RUNE

[Erik Voorhees @ErikVoorhees]

Memes win the short term
Narratives win the medium term
Fundamentals win the long term

[codehans @codehans1]

Affirming to see this doing numbers

Shut out the noise. We believe and we build