Erik Voorhees: Bitfinex and Thorchain employ creditor tokens strategy
@ErikVoorhees: Voorhees on Bitfinex, Thorchain
Cryptocurrency pioneer Erik Voorhees highlights a novel financial recovery strategy in the crypto space.
In a recent discussion on X, Erik Voorhees highlighted the innovative approaches taken by Bitfinex and Thorchain to recover from financial setbacks. Following its 2016 hack, Bitfinex issued a token that was granted to creditors and imbued with a share of future profits, effectively allowing them to recuperate losses over time. Thorchain adopted a similar approach after its lending mechanism, Thorfi, encountered issues earlier this year. According to Voorhees, such strategies demonstrate the unique possibilities available within the cryptocurrency industry, offering a new path for companies navigating financial crises. This approach is a testament to the adaptability and resilience offered by cryptocurrency mechanisms in addressing economic challenges.
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In the previous news, tweet author Erik Voorhees discussed crypto regulation and innovation.
