TechFlow News, February 2 — According to Nine Realms on the X platform, as of the post time, a total of 31 nodes have requested to exit the THORChain network. Due to the decline in RUNE price and node exits, the network is undergoing contraction; however, the core blockchain and swap functionalities remain fully operational. To protect users from current market volatility, many integration partners have currently suspended their services.
Nine Realms has also proposed implementing the current version of the Priority Haircuts Proposal. Implementation of this proposal would give savers and borrowers the option to exit their positions at a certain haircut; as conditions stabilize and network health improves, these haircuts may gradually decrease. Although the network is contracting, the remaining nodes and underlying liquidity will still allow the network to generate revenue, supporting the progress of an orderly exit plan. A node operator vote will be initiated immediately to confirm execution of this plan.
In addition, Nine Realms stated it remains firmly committed to supporting the network and will do everything possible to maintain protocol operations, with the goal of enabling borrowers and savers to eventually recover their funds. It believes implementing this proposal offers the "best chance" for the network's survival.
