THORChain: Network Recovery Enters Final Stage, Funds to Be Transferred to New Vaults

BlockBeats News, June 20, THORChain released an event update stating that the network is entering the final stage of recovery. Currently, the integrity of each node's keyshare is being verified through the new KeyVerify protocol. This step is to ensure that each vault is in a secure state before the churn begins. If the verification is successful, the next major step will be the churn, during which the network will transfer all funds to new vaults. THORChain stated that the churn timing is the primary variable at the moment and could take anywhere from several hours to several days. Once the churn is completed, subsequent steps are expected to progress quickly, including re-enabling Secured and Trade assets, LP operations, and finally resuming trading. The network recovery process has taken longer than expected due to the team's consistent prioritization of security and stability. More updates will be shared in the future. [Original Link]