News Explorer — Thorchain Plans to Issue Equity Token TCY to Get Toxic Debt Under Control

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Feb 3, 11:49 am

Coindesk

Thorchain Plans to Issue Equity Token TCY to Get Toxic Debt Under Control

THORChain's members approved "Proposal6" to convert $200 million of debt into equity via a new token, TCY, with a total supply of 200 million tokens. TCY holders will receive 10% of THORChain's revenue indefinitely, offering a recovery mechanism for those affected by the debt crisis.

THORChain's members approved "Proposal6" to convert $200 million of debt into equity via a new token, TCY, with a total supply of 200 million tokens. TCY holders will receive 10% of THORChain's revenue indefinitely, offering a recovery mechanism for those affected by the debt crisis.

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