brypto

Seems like a mess

Too many unsustainable protocols in this space

.@THORChain is insolvent

In the event of any large debt redemption and/or savers &amp; synths deleveraging, it is certain that TC cannot meet its bitcoin and eth denominated obligations.

Validators decided to pause the network while they vote a restructuring plan

🔽🧵

Seems like a mess

Too many unsustainable protocols in this space

https://x.com/1984_is_today/status/1882616341926162653

I'm honestly surprised this was the thing. There are so many other possibilities - not the least of which is collateralising your multisig with assets you invented whose value depends solely on the function of said multisig.