Thorchain is about to release TCY - the release date is set for May 5th, 2025 - TCY is a token that will be claim-dropped to ThorFi users.
ThorFi users are people who deposited BTC / ETH into collateralized lending positions on Thorchain's protocol. The protocol had a major economic flaw and this led to ThorFi getting frozen.
In order to remove this leverage and equitably pay impacted users, a proposal was created with the idea of creating a 2nd token in the Thorchain economy: TCY.
TCY is a yield-token that earns 10% of all Thorchain revenues in perpetuity. The token also has built-in buyback mechanisms.
When TCY goes live on May 5th, it will launch at a price of $0.10 and will be seeded with ~$600k in liquidity from Thorchain's treasury.
ThorFi users will be able to claim on any UI they want including https://leodex.io which is a frontend that supports Thorchain, Maya and ChainFlip.
In this video, I give my price prediction for TCY and for RUNE given that the bad debt will all get paid back in one fell swoop.
This video is NFA and I talk about what I am doing. What I am doing is buying RUNE and preparing for the launch of TCY. I will likely buy TCY at launch as well.
Throughout all of this turmoil, swap volume on Thorchain has continued and is even growing. Thorchain is a cash flow machine and just churns revenue in an unbelievable way. The future of Thorchain is incredibly bright no matter how dim the present may seem - this is just my opinion.
As an investor in RUNE since early multi-chain Chaosnet days, I am very bullish on the future of Thorchain, RUNE and the TCY launch.
If you want to follow my work in the ecosystem, check out LeoDex which is a project I work on to "Make DEX Feel Like CEX" by focusing on UX/UI development and making an interface that prioritizes the user experience of cross chain.
Ready to trade Cross Chain? Use https://leodex.io! Our all-new cross chain trading interface. LeoDex is powered by Thorchain, Maya and ChainFlip and has hundreds of cryptos and dozens of wallets supported. Trade natively, trade cross chain.
Posted Using INLEO
