Community Memo. Terra Chain Update. Projects fail because of Central Planning.
17 May 2022, 03:52
Community Memo
Terra Chain Update
Projects fail because of Central Planning. THORChain will ultimately fail if it cannot shed central planning aspects, such as mimir, Devs and treasury. It will be fake-decentralised.
For everyone involved and looking for problems-solutions please frame your perspective with a simple question:
"how can we solve this with the minimum involvement from mimir, Devs, treasury, instead stick to the principles THORChain is built on: codified network rules."
The network auto-paused. Devs identified that toxic arb can drain all the rune in the pools. Because this puts funds-at-risk to LPs, only 1 change has been rolled out: block toxic arb. When the chain is unpaused, no other changes, input or central planning is required. Thus this is now the template for the community to navigate future chain-implosions, which is a non-zero risk at all times.