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๐ Exciting News! Thorchain TCY Info is now live! ๐
Check it out to get all the insights on yield and revenue for TCY stakers. ๐๐ฐ
#Thorchain #TCY #YieldStaking
$RUNE
Check it out to get all the insights on yield and revenue for TCY stakers. ๐๐ฐ
#Thorchain #TCY #YieldStaking
$RUNE
THORChain Implements $200 Million Debt Crisis Resolution Solution Using TCY Token
#THORChain has officially approved a restructuring plan to address the nearly $200 million default debt by issuing a new token named TCY. This move marks an important step towards restoring financial stability for the ecosystem.
Details of the Restructuring Plan
๐น Issuing 200 million #TCY โ corresponding to a ratio of 1 TCY / 1 USD of default debt.
๐น Revenue sharing mechanism: TCY holders will receive 10% of network revenue indefinitely.
๐น Creating a RUNE/TCY liquidity pool with a scale of $500,000 to support trading and ensure liquidity.
Causes & Consequences
The above plan was proposed after #THORFi โ the decentralized finance product suite of THORChain โ suspended operations due to financial instability. The issuance of TCY aims to address the unpayable debt arising from previous programs.
However, despite restructuring efforts, the value of the token $RUNE has dropped over 70% in the past month, reflecting market concerns about the sustainability of the THORChain ecosystem.
Will this solution be enough to restore investor confidence and stabilize THORChain's finances? ๐
#THORChain has officially approved a restructuring plan to address the nearly $200 million default debt by issuing a new token named TCY. This move marks an important step towards restoring financial stability for the ecosystem.
Details of the Restructuring Plan
๐น Issuing 200 million #TCY โ corresponding to a ratio of 1 TCY / 1 USD of default debt.
๐น Revenue sharing mechanism: TCY holders will receive 10% of network revenue indefinitely.
๐น Creating a RUNE/TCY liquidity pool with a scale of $500,000 to support trading and ensure liquidity.
Causes & Consequences
The above plan was proposed after #THORFi โ the decentralized finance product suite of THORChain โ suspended operations due to financial instability. The issuance of TCY aims to address the unpayable debt arising from previous programs.
However, despite restructuring efforts, the value of the token $RUNE has dropped over 70% in the past month, reflecting market concerns about the sustainability of the THORChain ecosystem.
Will this solution be enough to restore investor confidence and stabilize THORChain's finances? ๐
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