THORChain Incident Update #5 The devs and security teams are working hard to bring the network safely back online. The focus is on getting this right, without rushing any steps. Security and stability remain the top priorities. Nodes have upgraded to v3.18.1, which contained a patch and restores @RujiraNetwork's ability to manage credit accounts (borrow / repay). ADR028 has been approved by the nodes. The next major step is cutting and testing v3.19.0. Additional changes are being made to the release and will be tested on stagenet before moving to mainnet. The target is to have it on stagenet by EOD tomorrow, though an exact timeline is yet to be confirmed. Once finalised and pushed for mainnet adoption, all node operators are asked to upgrade as quickly as possible so the network can come back online safely and efficiently. With ADR028 now approved, the bounty is active, meaning the hacker has an open window to return a portion of the funds. The protocol will also cover the remaining loss using POL. The figures are still being defined and will be shared in a follow-up announcement. One important note: tss-lib has temporarily been moved to closed source for the next few weeks to allow THORSec to complete a full security audit without exposing ongoing remediation work. The repository will be reopened once this is complete. More updates coming soon. We appreciate the patience and support.

The "privacy" era in crypto has officially begun

THORChain Incident Update #4 Following the events of May 15th, the community has been hard at work defining a path forward. ADR028 is now published and a vote is open for Node Operators. 🔹 The Recovery Plan 🔹 The protocol will absorb the loss first through Protocol-Owned Liquidity and the remainder is spread across synth holders (The exact split between the two is still being evaluated). By doing so, POL will be reduced to zero. The ADR proposes to redirect a portion of system income to replenish it over time. No new RUNE is minted, no RUNE is sold, and no holder is diluted. 🔹 The Technical Decisions 🔹 GG20 is kept in place for now, patched and upgraded. Trading resumes only after the vulnerability is patched and a successful churn has occurred. A slower, more security-conscious release cadence is also called for going forward. 🔹 The Slashing 🔹 Innocent nodes that end up being in the same vault as the attacker are protected. The attacker's node is slashed in full. The recovered RUNE is paired with whatever assets can be recovered from the affected vault, and any surplus RUNE is burned. 🔹 The White Hat Offer 🔹 The attacker is offered a bounty to return the funds. If funds are returned partially, the recovery plan rolls back proportionally. 🔹 Protocol Neutrality 🔹 THORChain remains neutral and permissionless. The attacker's swaps will not be censored once trading resumes. Node Operators are now voting on the overall direction and principles of this proposal. The figures in the ADR are indicative at this stage and will be adjusted later, notably via Mimir. The goal is to restart the network as soon as possible. A yes vote is a green light for developers to continue building in that direction. Full details of ADR028 gitlab.com/-/snippets/599292… For those who want to understand the full context of what happened, this article is for you: thorchain.org/blog/thorchain…

.@Dashpay is coming to @THORChain. A 12 year old cypherpunk chain that pioneered instant finality and built-in privacy, finally landing on the apex permissionless DEX. Full recap on @TheDesertLynx’s appearance below 👇🏻 blog.thorchain.org/dash-is-c…

Is this how we DeFi? Bruh, too easy I'm already bonding with a great node operator, so I'm comfortable with @THORChain staking mechanics. Unfortunately, bonded capital is locked up. Since I like $RUNE and feel comfortable with it (investing is about understanding and managing risk), what a great opportunity I saw here with $bRUNE I just tried this on @RujiraNetwork as a proof of concept for myself... and it was FUN! Process: 1- I deposited some BTC as collateral 2- borrowed $USDC at 40% loan-to-value 3- got RUNE with the USDC 4- swapped for bRUNE & staked it 5- set rewards to USDC paying out every $2, thanks to @AutoRujira Periodically I'll pay down my loan with the bRUNE returns. Borrowing under 5% interest on a stablecoin while confidently earning 15% + on bRUNE Part of my staked $RUJI also pays out in USDC - those revenues will contribute to paying down the debt too. Eventually, I'll have freed up my collateral and acquired a few thousand RUNE on someone else's money I think I'm winning this time

.@patriotsounds on THORChain's permissionless infrastructure and why neutrality is non negotiable. 👇