TechFlow reports, according to official news, the decentralized cross-chain trading protocol THORChain has launched its lending protocol THORFi Lending, which has already been approved by node operators. The lending functionality is set to roll out on the mainnet soon, initially supporting only BTC and ETH as collateral.
This lending feature allows users to deposit native collateral and create debt based on a collateralization ratio (CR). Regardless of the type of L1 asset received, debts are denominated in U.S. dollars (i.e., TOR). Users can repay at any time with any amount of assets, and repayments will be automatically converted into TOR.
All loans carry zero interest, zero liquidation risk, and have no maturity date. Risks are controlled through per-pool collateral limits, fees applied when opening/closing loans (based on slippage), dynamic collateralization ratios (CR), and circuit breakers tied to RUNE supply.
