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great summary of the #ThorChain collapse debacle. these guys are always promising "decentralization" right until the moment a centralized authority has to step in and genocide the users' bank accounts so as to make sure the insiders stay rich.
> "Tonight, somewhere on-chain, $200M worth of user funds sit frozen while THORChain's team tries to innovate their way out of their own innovation. Ninety days might buy them time to restructure, but no amount of governance theater can erase the fundamental truth - they built a leverage trap with no escape hatch."
> "Their 'community-driven' solution reads like a negotiation with no real choice - frozen funds transformed into tokenized claims and promises of future repayment. THORChain's original promise of trustless finance ends with a forced trust exercise."