THORChain Says Network Recovery Nears Final Stage as KeyVerify and Vault Churn Continue

THORChain said its network recovery is entering the final stage, with the network now verifying the integrity of each node’s keyshare through a new KeyVerify protocol before initiating a vault churn. According to ChainCatcher, the verification step is intended to confirm that each vault is secure before churn begins, after which the network will move all funds into new vaults. THORChain said the churn timeline is the main variable and could take anywhere from several hours to several days. Once churn is completed, the project expects to quickly proceed with re-enabling Secured and Trade assets, restoring liquidity provider operations, and then resuming trading. THORChain added that the recovery has taken longer than expected because it prioritized security and stability, and said it will continue to share updates.