On June 20, THORChain released an event update stating that the network is entering the final phase of recovery. Currently, the integrity of each node's keyshare is being verified through the new KeyVerify protocol. This step is used to confirm that each vault is in a secure state before the churn begins. If the verification is successful, the next major step will be the churn, during which all funds will be transferred to the new vault. THORChain indicated that the churn time is the current main variable and may take anywhere from several hours to several days. After the churn is completed, subsequent steps are expected to progress quickly, including the reactivation of Secured and Trade assets, LP operations, and finally the restoration of trading. The network recovery has taken longer than expected, as the team has consistently prioritized security and stability, and further updates will continue to be shared.
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THORChain: Network Recovery Enters Final Phase, Funds to be Transferred to New Vault
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