Nine Realms: There are over 30 nodes requesting to exit the THORChain network

News on February 2nd, according to Nine Realms on platform X, as of the time of posting, a total of 31 nodes have requested to exit the THORChain network. Due to the decline in RUNE prices and node exits, the network is experiencing contraction, but the core blockchain and Swap functions of the protocol are still operating normally. To protect users from current market fluctuations, many integrated partners have temporarily suspended services. Nine Realms also proposed implementing a Priority Haircuts Proposal for its current version. The implementation of this proposal will provide options for savers and borrowers allowing them to exit their positions at certain losses; these losses may gradually decrease as conditions stabilize and network health improves. Although the network is contracting, remaining nodes and base liquidity will still allow it to continue generating income thus promoting orderly exit plan progress. It was stated that voting by node operators would be initiated immediately to confirm execution of this plan. Furthermore, Nine Realms expressed that they will always remain committed to supporting this network and will do everything possible to maintain normal operation of protocols with an aim for borrowers and savers eventually recovering funds believing that implementing this proposal provides "the best chance" for survival.