RE: LeoThread 2025-02-03 09:39

[bunnyonrun]

Today feels particularly turbulent for the $RUNE community and THORChain, a place where crypto DeFi journeys began and friendships were forged. Involvement in the THORGuards NFT project brought the chance to connect with many great

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[bunnyonrun]

individuals in that community, who truly do not deserve to face losses. It's hoped they can find a way forward. 🐇

[bunnyonrun]

As for the $RUNE situation:

• The protocol owes over 200 million in debt to users due to Lending (ThorFi).
• Recently, community proposals aimed to tackle this, with significant contributions from a key advocate.
• Approximately 12 hours

[bunnyonrun]

ago, it appeared that this advocate decided to sell their $RUNE and signaled a potential exit from some nodes.

• A few other nodes have also indicated similar intentions, totaling 26 nodes representing around 20% of the network.
• If churn

[bunnyonrun]

continues in the next 24 hours without intervention, about 20 million $RUNE could flood the market, likely reflecting those exit signals.

• Additionally, the trading assets on the protocol have dropped significantly in the last day (from 50

[bunnyonrun]

BTC to roughly 10 BTC).

• There's a discrepancy in prices between THORChain and centralized exchanges.

The future remains uncertain and hinges on several of these developments.