Our initial research piece on THORChain dates back to the end of December 2019. Since then, RUNE’s market cap has grown considerably to $1B today. The project migrated from a single chain DEX into a one-of-a-kind cross-chain liquidity network. More specifically it recently transitioned from Single Chain Chaosnet (SCCN) to Multi Chain Chaos Net (MCCN). We’re excited to provide a large update on THORChain, which we present in 3 parts. First, we will share our brief assessment on the recent unfortunate exploit. Next, we will analyze on-chain historical figures from THORChain MCCN and share our insights. Finally, we dive deep into the implications of two novel assets that will shape up THORChain’s future; Synths & iRune.
As we were getting closer to publish our report, THORChain recently experienced an unfortunate exploit. The exploit was pulled by taking advantage of a recent feature that was added to enhance THORChai