Thorchain

In the next network upgrade, Thorchain will burn 60m RUNE to create space for lending, onboarding a minimum of $100m in new collateral for monetisation. Borrowers will enjoy a 50% LTV loan with no liquidation. The system is expected to double in TVL and quadruple in price action as it expands.

THORChain issued a reminder that BEP2 integration will be removed on February 29, 2024. BEP2 LPs and Savers need to remove their positions as soon as possible, as there is no guarantee their assets will be automatically returned. BSC LPs do not need to take any action as BNB Smart Chain will continue to exist on THORChain.

A proof of concept was shared by @THORChain about a Lending Looping contract where collateral is put in, debt is received with TC aggregation and then re-deposited as new collateral. This concept specifically applies to Ether as debt.

Thorchain announced that lending fees are currently high due to high demand. Users are advised to wait until fees cool off to around 10bps.

The Thorchain community has pointed out that CosmosSDK's use of doxxed delegated PoS without churning may lead to centralization. They suggest implementing churning, non-doxxed delegators, and bond limits similar to Thorchain's implementation. Thorchain has a higher halt-threshold, set at around 35 nodes according to academic analysis.

A news update on February 20, 2024, mentioned a continuous flow of loan openings within the Thorchain community, with an amount of $100 million being targeted. The community is eager to engage in this opportunity with the cryptocurrency $RUNE.

Thorchain community discusses the upcoming maxCR increase to 200% with a loan-to-value ratio of 50%, anticipating that loan caps will be quickly reached. Additionally, the 60 million BURN is scheduled to take place within the next 2 weeks, sparking a debate on which event will occur first.

THORChain has achieved nearly $1 billion in volume, ranking it as the 5th chain with the highest volume in the last 7 days. Other projects like Maya Protocol are also performing strongly. $RUNE $CACAO

THORChain announced that free leverage on BTC and ETH will be available again, allowing users to increase their positions without paying interest fees or facing liquidation. A looped ETH position is currently showing an additional 44% gain compared to holding spot.

THORChain aims to build a decentralized bank powered by liquidity, the core yield engine. The project envisions mimicking traditional banking services like deposit accounts, cheque accounts, and credit accounts. $RUNE