THORChain: 60 million RUNE tokens have been burned, creating space for 20 million RUNE tokens for lending collateral

The decentralized cross-chain AMM protocol THORChain announced on X that 60 million RUNE tokens have been burned from the reserve, creating space for 20 million RUNE tokens (approximately $140 million) for borrowing and collateral. Currently, there is enough space in THORChain lending to accommodate 2,000 bitcoins or 36,000 ethereums. There are no liquidations and no interest.

In a previous announcement, THORChain stated on platform X that in the next network upgrade, they will burn another 60 million RUNE tokens and reduce the maximum collateral ratio to 200%, aiming to gain a competitive advantage in decentralized L1 lending.