THORChain Enters Final Recovery Phase on June 20, KeyVerify Validation Underway

According to THORChain, on June 20, the network entered the final phase of recovery with KeyVerify protocol validation underway. The protocol verifies each node's keyshare integrity to confirm vault security before the churn process, which will transfer all network funds to new vaults.

The churn timeframe is the main variable and could take anywhere from hours to days, THORChain stated. After churn completion, the network will re-enable Secured and Trade assets, LP operations, and trading sequentially. The extended recovery timeline was due to prioritizing security and stability over speed.