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August 13, 2021

THORChain Treasury Acquires Assets Needed for Solvency

The Big Picture

As part of the roadmap to bring THORChain back online, the pools that were drained in last month's exploits need to be made whole.

Today, the THORChain treasury has announced that they have acquired the necessary assets that were lost in order to regain solvency in the network.

The Good News

Node operators and liquidity providers will receive back-pay for rewards missed during the downtime. Once the pools are rebalanced and rewards resume flowing, it will be possible for users to check their positions accurately using RUNEYield.

Additionally, initiatives such as THORSec and Protocol-Level Insurance will allow users to be confident in the security of the network and its ability to protect against any possible losses.

Going Forward

The THORChain team has not yet deposited these assets into the network, so the affected pools are still unbalanced. It will still take time for additional audits to be completed before additional chains are brought online and tradings is re-enabled.

The focus of the development team is currently implementing various hardening methods, but once Chaosnet is back online and stable, features like ThorFi will once again take center-stage.

Mainnet is targeted for the end of the year.

Follow our Network Operation Roadmap for the latest timeline.

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