BlockBeats news, on March 8, according to official news, THORSwap, a cross-chain DEX aggregator based on THORChain, had a single-day trading volume of US$442 million yesterday, with liquidity of US$426 million, a record high. According to market information, RUNE exceeded $7 today, with a 24-hour increase of 32.5% as of writing.

Limit increase, RUNE generation Coin destruction, THORChain’s liquidation-free lending attracted attention from overseas communities

On January 31, THORChain proposed a new improvement proposal (ADR 012) on its official GitLab page , the main purpose is to expand THORFi lending business and burn reserve reserves. Under the proposal, a total of 1,300 loans involving approximately $24 million in collateral were opened to originate $7 million in debt since the lending operation was launched in the third quarter of 2023. The current system risk is low, and only 700,000 RUNE will be permanently destroyed in a complete liquidation scenario.

The proposal proposes to set the maximum collateralization rate (MAXCR) at 200% and destroy the reserve reserve of 60 million RUNE. This move is designed to reduce borrowing risks and safely increase borrowing leverage. Lowering MAXCR to 200% will allow more loans to be made and loans to close less likely in a bear market.

In addition, by destroying approximately $300 million worth of RUNE, THORChain can absorb an additional $100 million in collateral, increasing market demand for RUNE purchases. The proposal also mentioned that destroying the reserve reserve will not only create space for the expansion of the lending business, but also help launch new features such as stable coins and perpetual contracts in the future.

On February 16, the decentralized cross-chain trading protocol THORChain officially stated that 60 million RUNE will be destroyed in the next network upgrade and the maximum mortgage ratio will be reduced. to 200%.

This morning, THORSwap’s official Twitter account posted a message stating that the THORChain loan limit has been increased, with a maximum LTV of 50%, and a minimum loan period of 30 days. BTC and ETH are accepted as collateral. Taste.

THORChain official is also here Published tweet today, introducing its non-liquidation lending mechanism as RUNE destruction , protocol income (50% collateral income) and the benefits that THORChain’s TVL growth will bring.

BlockBeats has previously appeared in The market value exceeded US$1.7 billion, and THORChain, which "disappeared" for a year and a half, is back》The article explains in detail the development process of THORChain in the past year. THORChain's clearing-free lending mechanism has been developed for 2 years, and has once again given THORChain an opportunity to make a comeback during the recent upsurge in market conditions. Its data growth and the development of THORChain are worthy of long-term attention.

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