TechFlow reports, according to official THORChain announcement, THORFi Lending has launched, supporting BTC and ETH as collateral, with a maximum collateralization ratio of 500% and a minimum collateralization ratio of 200%.
This lending protocol allows users to deposit native collateral and then create debt based on a collateralization ratio (CR). Regardless of the L1 asset received by the user, the debt is always denominated in USD (i.e., TOR). Users can repay loans at any time with any amount of any asset. Repayments are converted into TOR.
THORChain warns that THORChain Lending may have vulnerabilities that require pausing or fixing. Node operators and developers will remain vigilant and address issues promptly.
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