Thorchain在破產問題的情況下暫停了BTC和ETH撤回貸款和儲蓄計劃

Thorchain是一項分散的跨鏈流動性協議，已從Thorfi平台下的貸款和儲蓄計劃中暫停了比特幣（BTC）和以太坊（ETH）的提款。

Decentralized cross-chain liquidity protocol THORChain has halted withdrawals for Bitcoin (BTC) and Ethereum (ETH) from its lending and savers programs under the THORFi platform.

分散的跨鏈流動性協議Thorchain已從Thorfi平台下的貸款和儲蓄計劃中停止了比特幣（BTC）和以太坊（ETH）的提款。

Network node operators approved the move on January 23 as part of a 90-day pause designed to address financial risks and stabilize the protocol’s operations.

網絡節點運營商於1月23日批准了這一舉動，作為90天停頓的一部分，旨在解決財務風險並穩定協議的運營。

Rising concerns about THORChain’s ability to meet its liabilities, which are estimated to be around $200 million, prompted the suspension. Trading and cross-chain swaps, the protocol’s core services, are not affected.

人們對索蘭履行其負債的能力的擔憂不斷提高，估計約2億美元，這促使該暫停。協議的核心服務不受影響。

THORChain’s lending and savers programs, which allow users to earn yields or borrow using BTC and ETH, have been paused to mitigate potential insolvency risks.

Thorchain的貸款和儲蓄計劃允許用戶使用BTC和ETH賺取收益或借用，以減輕潛在的破產風險。

According to messages from THORChain’s Discord and Telegram channels, network validators implemented the pause after identifying vulnerabilities in the protocol’s financial structure.

根據Thorchain的Discord和Telegram頻道的消息，網絡驗證者在識別協議財務結構中的漏洞後實現了停頓。

The suspension aims to prevent a situation where simultaneous closures of lending and savers positions, combined with a decline in the price of RUNE, could lead to an insolvency crisis.

暫停旨在防止局勢同時關閉貸款和儲蓄者職位的情況，再加上符文的價格下降，可能導致破產危機。

“To safeguard LPs and maintain network stability, we are recommending nodes vote to temporarily suspend ThorFi redemptions,” explained Orion (9r), a pseudonymous THORChain developer.

“為了維護有限元和保持網絡穩定性，我們建議節點投票暫時中止Thorfi贖回。”

THORChain’s financial model relies heavily on RUNE, its native token, to meet lending obligations. The protocol mints RUNE to cover liabilities, which are then sold into liquidity pools.

Thorchain的財務模式在很大程度上依賴其本土代幣Rune來履行貸款義務。協議薄荷糖符合負債，然後將其出售給流動性庫。

Deposits for lending and savers programs were already halted a year ago due to growing concerns over the risks involved.

一年前，由於對所涉及風險的擔憂日益擔憂，一年前已經停止了貸款和儲蓄計劃的存款。

Community members estimate the protocol’s liabilities to include $97 million in lending and $102 million in savers, creating concerns that liquidity providers (LPs) could withdraw or sell assets during periods of panic.

社區成員估計該協議的債務包括9700萬美元的貸款和1.02億美元的儲蓄者，這使人們擔心流動性提供商（LPS）可以在恐慌期間撤回或出售資產。

“If nothing is done, it will be a race to the exit, and the entire protocol’s value will vanish,” warned TCB, a community member.

社區成員TCB警告說：“如果什麼也沒做，那將是進入退出的比賽，整個協議的價值將消失。”

The decision has prompted varied reactions from the crypto community. Eric Voorhees, founder of ShapeShift, acknowledged the necessity of the pause, noting,

該決定促使加密社區的反應各不相同。 Shapeshift的創始人埃里克·沃希斯（Eric Voorhees）承認停頓的必要性，指出，

“At this point, it’s clear these designs failed, they were too risky.”

“在這一點上，很明顯，這些設計失敗了，它們太冒險了。”

Voorhees stated that lending and savers programs were experimental features that became unsustainable over time.

Voorhees表示，貸款和儲戶計劃是隨著時間的流逝而變得不可持續的實驗功能。

Others, like Dragonfly Capital’s Haseeb Qureshi, questioned whether this marked the first on-chain restructuring effort in the decentralized finance (DeFi) space.

其他人，例如Draginfly Capital的Haseeb Qureshi，質疑這是否標誌著分散融資（DEFI）空間中的首次鏈上重組工作。

THORChain’s founder, John-Paul Thorbjornsen, reassured users, saying,

Thorchain的創始人John-Paul Thorbjornsen向用戶保證，說，

“The protocol makes a ton of money and can service the debt — once restructured.”

“該協議賺了很多錢，可以償還債務 - 一旦重組。”

RUNE has faced a steep decline amid financial uncertainty. It trades at $2.43 at press time, down 19.38% in the last 24 hours and 37.78% over the past week.

在財務不確定性的情況下，符文面臨著急劇下降。發稿時的交易價格為2.43美元，在過去24小時內下跌了19.38％，在過去一周中下跌了37.78％。

With a circulating supply of 350 million tokens, RUNE's market cap currently stands at $844,744,548.

符文的市值為3.5億代幣，目前為844,744,548美元。

While the sharp price decline has raised concerns, some analysts view it as an opportunity for long-term investors, anticipating a recovery after the restructuring period concludes.

儘管價格下降引起了人們的關注，但一些分析師認為這是長期投資者的機會，預計重組期結束後會恢復。