Restarting Without New Tokens
THORChain node operators are voting on a recovery plan after a $10.7 million exploit on May 22, 2026. The plan aims to restart the network without minting new RUNE tokens. Voting on ADR028 has begun, and the outcome will determine the future of the protocol.
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The ADR028 plan is a response to the recent exploit, which resulted in significant losses for the protocol. By not minting new RUNE tokens, THORChain aims to maintain the token's value and prevent further dilution. The plan's success relies on the cooperation of node operators, who are responsible for validating transactions on the network.
Can THORChain Recover from the Exploit?
The outcome of the vote will determine the future of THORChain and its ability to recover from the exploit. If the plan is approved, the network will be restarted, and losses will be distributed according to the proposed plan. The decision to offer a hacker bounty is also seen as a measure to prevent future exploits and encourage responsible disclosure.
The consequences of the vote will be significant for THORChain and its users. A successful restart will help to restore confidence in the protocol, while a failed vote could lead to further instability. The outcome will also impact the value of RUNE tokens and the overall liquidity of the network.
Frequently Asked Questions
What is ADR028? ADR028 is a recovery plan proposed by THORChain to restart the network after a $10.7 million exploit. The plan involves using protocol-owned liquidity to cover losses.
How will losses be distributed? Losses will be shared between protocol-owned liquidity and synth holders, with the former being used first to cover losses.
What happens if the vote fails? If the vote fails, the future of THORChain and its ability to recover from the exploit will be uncertain, potentially leading to further instability.
