Thorchain由於生態系統債務近2億美元而暫停了網絡，符文坦克超過40％

1月24日，Thorchain通過Twitter宣布，由於債務過多並利用影響其生態系統的問題，它暫停了網絡。

THORChain announced on Jan. 24 via X that it had paused its network amid concerns over excessive debt and leverage impacting its ecosystem. The platform currently owes close to $200 million in ecosystem debt.

Thorchain於1月24日通過X宣布，由於對過度債務和影響其生態系統的槓桿作用的擔憂，它已停止了網絡。該平台目前欠生態系統債務近2億美元。

In the realm of decentralized finance (DeFi), ecosystem debt arises when a blockchain owes more tokens than it holds, a situation currently unfolding with THORChain. Such imbalances often stem from overambitious promises or mismanagement.

在分散財務（DEFI）的領域中，當一個區塊鏈欠下的令牌遠遠超過其所持的情況時，就會產生生態系統債務，這一情況目前正在與Thorchain發生。這種失衡通常源於雄心勃勃的諾言或管理不善。

On the other hand, leverage risk manifests when users leverage their crypto assets as collateral to borrow against and bolster their positions. While leverage can amplify profits, it also heightens the potential for substantial losses if the market falters, which could trigger liquidations.

另一方面，當用戶利用其加密貨幣資產作為抵押品來借貸和加強其頭寸時，利用風險就會表現出來。儘管槓桿可以擴大利潤，但如果市場流動，這可能會引發清算，它也會增強造成巨大損失的潛力。

According to Blockbeats, THORChain has $97 million in borrowing liability and $102 million in depositor and synthetic asset liabilities. This financial imbalance has brought the blockchain to the brink of bankruptcy.

根據BlockBeats的說法，Thorchain具有9700萬美元的借入責任和1.02億美元的存款人和合成資產負債。這種財務失衡使區塊鏈陷入了破產的邊緣。

To address these concerns, THORChain is undertaking several measures. These risks have, in turn, affected the native token of THORChain (RUNE) with the RUNE token price facing massive selling volume, dropping over 40% in the last 24 hours on Jan 24. This situation has also led to a loss of confidence in the protocol, and the THORChain validators are currently voting on a restructuring plan.

為了解決這些問題，Thorchain正在採取幾項措施。反過來，這些風險影響了胸骨（符文）的本地令牌，而符文令牌價格面臨著巨大的銷售量，在1月24日的最後24小時內下降了40％以上。這種情況也導致了人們對此的信心。該協議以及胸撥驗證者目前正在對重組計劃進行投票。

There is no risk of death spiral, the features have been suspended. The majority of the selling volume is perp short sellers speculating it's going into a reflective negative cycle. The features that could send it in a downward reflective spiral are disabled and will be…

沒有死亡螺旋的風險，特徵已被懸掛。銷售量的大部分是perp賣空者，猜測它將進入反射性負面週期。可以將其發送到向下反射螺旋的功能被禁用，並且將是…

This restructuring plan will help stabilize the system and avoid more risk to the ecosystem. According to a THORChain core investor, TCB, risky lending and leverage features like ThorFi were highlighted as a primary cause of instability and have now been removed from the blockchain.

該重組計劃將有助於穩定係統，並避免對生態系統的更大風險。根據Thorchain核心投資者的說法，TCB，風險的貸款和槓桿功能（如Thorfi）被強調為不穩定的主要原因，現在已從區塊鏈中刪除。

Without ThorFI's features, @THORChain would probably be a top 10 protocol. It's been a series of good news since streaming swaps launched that didn't even get noticed, it was an uninvestible asset and smart capital couldn't even touch it because of the complexity.

沒有Thorfi的功能，@Thorchain可能是前10個協議。自從流式掉期推出以來，這是一系列的好消息，甚至沒有引起注意，這是一項不可投資的資產，由於復雜性，智能資本甚至無法觸及它。

Moreover, the restructuring plan also includes efforts to regain users’ trust. Currently, integrations with wallets like Trust Wallet and Coinbase are enabling users to connect to THORChain, while liquidity providers would be ensuring liquidity to help the blockchain get back on its feet.

此外，重組計劃還包括重新獲得用戶信任的努力。當前，與Trust Wallet和Coinbase這樣的錢包的集成使用戶能夠連接到Thorchain，而流動性提供商將確保流動性幫助區塊鏈重新站起來。

Risks associated with DeFi lendingMany within the crypto community earn passive income through DeFi lending, but these endeavors are not without their risks. In March 2020, MakerDAO incurred an ecosystem debt of $6.65 million. To service this debt, the platform had to mint and sell MKR tokens for over $4.5 million as part of its debt repayment strategy.

與加密貨幣社區內與Defi Lendeny相關的風險通過Defi Lending獲得了被動收入，但這些努力並非沒有風險。 2020年3月，Makerdao產生了665萬美元的生態系統債務。為了償還這筆債務，該平台必須以超過450萬美元的價格造幣和出售MKR令牌，這是其債務還款策略的一部分。

Overly complex features, such as excessive leverage, can destabilize protocols, underscoring the need for streamlined designs. Additionally, robust risk management systems must be in place to avert ecosystem debt and safeguard users’ funds.

過度複雜的功能（例如過度槓桿）可能會破壞協議的穩定，強調對精簡設計的需求。此外，必須建立強大的風險管理系統，以避免生態系統債務並保護用戶的資金。