THORChain: Initiates a 90-day restructuring plan, suspending THORFi lending and savings redemption

PANews reported on January 26 that the decentralized liquidity protocol THORChain announced early today on platform X: "Node operators have implemented a 90-day suspension of THORFi lending and savings redemptions to protect the core functions of the network. This ensures that Swap, Liquidity Provider (LP) operations, and RUNE transfers continue to operate normally, with the network continuing to process a large volume of Swap transactions. Over the next 90 days, focus will be placed on community-driven proposals in order to responsibly restructure liabilities while protecting long-term health of the protocol. Proposals are being submitted on THORChain's developer community Discord.

Next steps: Node operators will meet with proposal authors at the beginning of next week to listen to their presentations, ask questions and discuss solutions. This open dialogue ensures all voices are heard as we collectively strive for optimal outcomes for our network. Despite FUDs, core functions such as Swap, LP operations and RUNE transfers continue smoothly processing high volumes of transactions."