Nine Realms: More than 30 nodes requested to exit the THORChain network

on February 2nd, Nine Realms stated on the X platform that as of the time of posting, a total of 31 nodes have requested to exit the THORChain network. Due to the decline in the price of RUNE and node exits, the network is experiencing contraction, but the core blockchain and Swap functions of the protocol are still operating normally. In order to protect users from the impact of current market fluctuations, many integrated partners have currently suspended their services.

Nine Realms also proposed the implementation of the current version of the Priority Haircuts Proposal. The implementation of this proposal will provide savers and borrowers with the option to exit their positions at a certain discount, and these discounts may gradually decrease as the situation stabilizes and the network's health improves. Despite the network contraction, the remaining nodes and basic liquidity will still allow the network to continue generating revenue, thus promoting the orderly progress of the exit plan. They also stated that they will immediately initiate a vote by node operators to confirm the implementation of this plan.

In addition, Nine Realms stated that they will always be committed to supporting this network and will make every effort to maintain the normal operation of the protocol, with the goal of ultimately restoring funds to borrowers and savers. They believe that the implementation of this proposal provides the "best opportunity" for the survival of the network.