Nine Realms: More than 30 Node requests to exit the THORChain network

Golden Finance reported that as of February 2nd, according to Nine Realms on X platform, there are a total of 31 Node requests to exit the THORChain network. Due to the decline in RUNE price and Node exits, the network is undergoing contraction, but the core blockchain and Swap functionality of the protocol are still operating normally. In order to protect users from the impact of current market fluctuations, many integrated partners have temporarily suspended their services. Nine Realms also proposed to implement the current version of the Priority Haircuts Proposal. The implementation of this proposal will provide options for savers and borrowers, allowing them to exit their positions with a certain discount; as the situation stabilizes and the network health improves, these discounts may gradually decrease. Despite the network shrinking, the remaining Nodes and underlying liquidity will still allow the network to continue generating revenue, thereby driving the orderly progress of the exit plan. It is also stated that Node operator voting will be immediately initiated to confirm the execution of this plan. In addition, Nine Realms stated that it will always be committed to supporting this network and will make every effort to maintain the normal operation of the protocol. The goal is to restore funds to borrowers and depositors, and it is believed that implementing this proposal provides the ‘best opportunity’ for the survival of the network.