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.