THORChain, the decentralized liquidity protocol that allows for cross-chain swaps, is at a crucial juncture. After a spate of recent misfortunes, the cryptocurrency community is questioning the protocol’s future and—by extension—a future for cross-chain swaps. The protocol has amassed a $200M debt, and its token, $RUNE, is in freefall. Meanwhile, the “ecosystem” as a whole seems to be in chaos. On top of all this, THORChain has recently announced that it will cease paying out block rewards to liquidity providers and nodes. This is an enormous red flag and calls into question the long-term survival of THORChain. THORChain’s Revenue Model
The post Is THORChain in Crisis? Examining the $200M Debt, Falling $RUNE Price, and the End of Block Rewards appeared first on The Merkle News.
