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TCY Tools
TCY Claim Calculator
Enter your Savers or Lending address to see how much $TCY you might be able to claim.
What is TCY
TCY is a newly minted token on Thorchain created as part of a debt-to-equity conversion proposal. It is distributed 1:1 for every dollar of defaulted debt to affected lenders and savers. Instead of repaying users directly, Thorchain now allocates 10% of all protocol fees to TCY holders, paid out in RUNE daily.
TCY can be held to earn passive RUNE rewards, traded on the market, or speculated on for long-term value appreciation. Its price is determined by a RUNE/TCY liquidity pool, and as Thorchain's ecosystem grows, TCY holders benefit from increasing swap fees and adoption.
RUNE Price
TCY rewards are directly tied to the price of RUNE—when RUNE’s price increases, TCY holders receive higher rewards in USD value. Below is the RUNE price chart for the past 6 months.
TCY Use Cases
TCY is not just a bailout token—it provides real opportunities for both passive income and active market participation. Here's how chads can benefit from holding or trading TCY:
✅ Hold & Earn Passive RUNE Rewards
How it works: TCY holders receive 10% of all Thorchain swap fees in RUNE, distributed every 24 hours.
Why it's valuable: As Thorchain's volume grows, swap fees increase, meaning higher RUNE payouts.
Who benefits: Long-term holders who want to earn passive income in RUNE.
Example: If total daily swap fees are $1M, then $100K worth of RUNE is distributed among all TCY holders.
✅ Trade TCY
How it works: TCY is tradable in a RUNE/TCY liquidity pool, allowing users to swap it for RUNE, BTC, or other assets.
Why it's valuable: If TCY price appreciates, users can realize profits by selling at a higher price.
Who benefits: Users looking to exit their TCY position or traders speculating on its future value.
Example: A user who receives 40,000 TCY may choose to hold some for yield and sell the rest for immediate liquidity.
✅ Speculation & Price Appreciation Potential
How it works: TCY has a fixed supply of 200M and is backed by a share of Thorchain's future revenue.
Why it's valuable: The more volume and fees Thorchain generates, the more attractive TCY becomes, increasing demand.
Who benefits: Investors who believe in Thorchain's long-term growth and the potential of TCY as a revenue-sharing token.
Example: If TCY starts at $0.10, but RUNE payouts increase over time, demand could push it towards $1 or higher.
✅ Portfolio Diversification for Thorchain Users
How it works: Users with collateralized debt or exposure to Thorchain can hold TCY as a hedge.
Why it's valuable: Instead of being forced to sell RUNE or BTC at a loss, users can balance their portfolio with an income-generating asset.
Who benefits: Users with existing RUNE or BTC holdings who want exposure to a different risk-reward profile.
Example: A liquidity provider might reinvest earned TCY into the RUNE/TCY pool to earn additional swap fees.
ThorFi Shutdown Details
ThorFi was Thorchain's lending and savings system, allowing users to deposit assets as collateral and borrow against them without liquidation risks. However, due to market conditions, systemic imbalances, and liquidity issues, the system became unsustainable, leading to bad debt that could not be repaid under the original terms.
To address this issue, Thorchain implemented a debt-to-equity conversion, replacing outstanding debt with a new token: TCY. This move effectively wipes away all debt and liabilities from the protocol while giving affected users a new asset with upside potential.
🟢 How Does Debt-to-Equity Conversion Work?
Instead of forcing Thorchain into an unsustainable repayment structure, the protocol converted all outstanding debt into TCY tokens.
✅ Key Mechanism
Debt is wiped out completely
Instead of repaying borrowers in RUNE or BTC, Thorchain issues 1 TCY per $1 of defaulted debt.
This means users now own TCY instead of debt, effectively giving them a stake in the protocol's future earnings instead of waiting for payback.
TCY earns RUNE from swap fees
10% of all Thorchain swap fees are redirected to TCY holders.
TCY holders receive daily RUNE payouts based on their proportional holdings.
TCY can be traded freely
A RUNE/TCY liquidity pool allows users to buy, sell, or hold TCY based on their market outlook.
The price of TCY is market-driven and will fluctuate based on demand, speculation, and Thorchain's revenue.
Thorchain no longer carries any debt burden
With all debt converted to equity (TCY), the protocol removes all obligations to repay lenders in BTC or RUNE.
This stabilizes the system, allowing Thorchain to continue operating without insolvency risks.
TCY Tools
TCY Claim Calculator
Enter your Savers or Lending address to see how much $TCY you might be able to claim.
What is TCY
TCY is a newly minted token on Thorchain created as part of a debt-to-equity conversion proposal. It is distributed 1:1 for every dollar of defaulted debt to affected lenders and savers. Instead of repaying users directly, Thorchain now allocates 10% of all protocol fees to TCY holders, paid out in RUNE daily.
TCY can be held to earn passive RUNE rewards, traded on the market, or speculated on for long-term value appreciation. Its price is determined by a RUNE/TCY liquidity pool, and as Thorchain's ecosystem grows, TCY holders benefit from increasing swap fees and adoption.
RUNE Price
TCY rewards are directly tied to the price of RUNE—when RUNE’s price increases, TCY holders receive higher rewards in USD value. Below is the RUNE price chart for the past 6 months.
FAQs
How do I claim my TCY?
You don't need to manually claim TCY—if you had outstanding debt in ThorFi, your allocation is automatically credited to your address. You can check your balance using
How long will RUNE payouts last?
TCY holders receive 10% of all Thorchain swap fees in perpetuity, meaning there is no fixed end date for RUNE payouts. As long as Thorchain generates swap volume, TCY holders will continue to receive rewards every 24 hours.
What happens if I sell TCY?
TCY is tradeable on the RUNE/TCY liquidity pool, where its price is determined by supply and demand. If you no longer want passive RUNE income, you can sell TCY at any time. However, selling pressure might impact its price, so consider market conditions before exiting.
Is there a risk of TCY becoming worthless?
Yes, TCY's value is entirely market-driven, meaning it could appreciate or decline based on Higher swap volume and demand or Low swap volume and high sell pressure
TCY Use Cases
TCY is not just a bailout token—it provides real opportunities for both passive income and active market participation. Here's how chads can benefit from holding or trading TCY:
✅ Hold & Earn Passive RUNE Rewards
How it works: TCY holders receive 10% of all Thorchain swap fees in RUNE, distributed every 24 hours.
Why it's valuable: As Thorchain's volume grows, swap fees increase, meaning higher RUNE payouts.
Who benefits: Long-term holders who want to earn passive income in RUNE.
Example: If total daily swap fees are $1M, then $100K worth of RUNE is distributed among all TCY holders.
✅ Trade TCY
How it works: TCY is tradable in a RUNE/TCY liquidity pool, allowing users to swap it for RUNE, BTC, or other assets.
Why it's valuable: If TCY price appreciates, users can realize profits by selling at a higher price.
Who benefits: Users looking to exit their TCY position or traders speculating on its future value.
Example: A user who receives 40,000 TCY may choose to hold some for yield and sell the rest for immediate liquidity.
✅ Speculation & Price Appreciation Potential
How it works: TCY has a fixed supply of 200M and is backed by a share of Thorchain's future revenue.
Why it's valuable: The more volume and fees Thorchain generates, the more attractive TCY becomes, increasing demand.
Who benefits: Investors who believe in Thorchain's long-term growth and the potential of TCY as a revenue-sharing token.
Example: If TCY starts at $0.10, but RUNE payouts increase over time, demand could push it towards $1 or higher.
✅ Portfolio Diversification for Thorchain Users
How it works: Users with collateralized debt or exposure to Thorchain can hold TCY as a hedge.
Why it's valuable: Instead of being forced to sell RUNE or BTC at a loss, users can balance their portfolio with an income-generating asset.
Who benefits: Users with existing RUNE or BTC holdings who want exposure to a different risk-reward profile.
Example: A liquidity provider might reinvest earned TCY into the RUNE/TCY pool to earn additional swap fees.
ThorFi Shutdown Details
ThorFi was Thorchain's lending and savings system, allowing users to deposit assets as collateral and borrow against them without liquidation risks. However, due to market conditions, systemic imbalances, and liquidity issues, the system became unsustainable, leading to bad debt that could not be repaid under the original terms.
To address this issue, Thorchain implemented a debt-to-equity conversion, replacing outstanding debt with a new token: TCY. This move effectively wipes away all debt and liabilities from the protocol while giving affected users a new asset with upside potential.
🟢 How Does Debt-to-Equity Conversion Work?
Instead of forcing Thorchain into an unsustainable repayment structure, the protocol converted all outstanding debt into TCY tokens.
✅ Key Mechanism
Debt is wiped out completely
Instead of repaying borrowers in RUNE or BTC, Thorchain issues 1 TCY per $1 of defaulted debt.
This means users now own TCY instead of debt, effectively giving them a stake in the protocol's future earnings instead of waiting for payback.
TCY earns RUNE from swap fees
10% of all Thorchain swap fees are redirected to TCY holders.
TCY holders receive daily RUNE payouts based on their proportional holdings.
TCY can be traded freely
A RUNE/TCY liquidity pool allows users to buy, sell, or hold TCY based on their market outlook.
The price of TCY is market-driven and will fluctuate based on demand, speculation, and Thorchain's revenue.
Thorchain no longer carries any debt burden
With all debt converted to equity (TCY), the protocol removes all obligations to repay lenders in BTC or RUNE.
This stabilizes the system, allowing Thorchain to continue operating without insolvency risks.
TCY Tools
TCY Claim Calculator
Enter your Savers or Lending address to see how much $TCY you might be able to claim.
What is TCY
TCY is a newly minted token on Thorchain created as part of a debt-to-equity conversion proposal. It is distributed 1:1 for every dollar of defaulted debt to affected lenders and savers. Instead of repaying users directly, Thorchain now allocates 10% of all protocol fees to TCY holders, paid out in RUNE daily.
TCY can be held to earn passive RUNE rewards, traded on the market, or speculated on for long-term value appreciation. Its price is determined by a RUNE/TCY liquidity pool, and as Thorchain's ecosystem grows, TCY holders benefit from increasing swap fees and adoption.
RUNE Price
TCY rewards are directly tied to the price of RUNE—when RUNE’s price increases, TCY holders receive higher rewards in USD value. Below is the RUNE price chart for the past 6 months.
TCY Use Cases
TCY is not just a bailout token—it provides real opportunities for both passive income and active market participation. Here's how chads can benefit from holding or trading TCY:
✅ Hold & Earn Passive RUNE Rewards
How it works: TCY holders receive 10% of all Thorchain swap fees in RUNE, distributed every 24 hours.
Why it's valuable: As Thorchain's volume grows, swap fees increase, meaning higher RUNE payouts.
Who benefits: Long-term holders who want to earn passive income in RUNE.
Example: If total daily swap fees are $1M, then $100K worth of RUNE is distributed among all TCY holders.
✅ Trade TCY
How it works: TCY is tradable in a RUNE/TCY liquidity pool, allowing users to swap it for RUNE, BTC, or other assets.
Why it's valuable: If TCY price appreciates, users can realize profits by selling at a higher price.
Who benefits: Users looking to exit their TCY position or traders speculating on its future value.
Example: A user who receives 40,000 TCY may choose to hold some for yield and sell the rest for immediate liquidity.
✅ Speculation & Price Appreciation Potential
How it works: TCY has a fixed supply of 200M and is backed by a share of Thorchain's future revenue.
Why it's valuable: The more volume and fees Thorchain generates, the more attractive TCY becomes, increasing demand.
Who benefits: Investors who believe in Thorchain's long-term growth and the potential of TCY as a revenue-sharing token.
Example: If TCY starts at $0.10, but RUNE payouts increase over time, demand could push it towards $1 or higher.
✅ Portfolio Diversification for Thorchain Users
How it works: Users with collateralized debt or exposure to Thorchain can hold TCY as a hedge.
Why it's valuable: Instead of being forced to sell RUNE or BTC at a loss, users can balance their portfolio with an income-generating asset.
Who benefits: Users with existing RUNE or BTC holdings who want exposure to a different risk-reward profile.
Example: A liquidity provider might reinvest earned TCY into the RUNE/TCY pool to earn additional swap fees.
ThorFi Shutdown Details
ThorFi was Thorchain's lending and savings system, allowing users to deposit assets as collateral and borrow against them without liquidation risks. However, due to market conditions, systemic imbalances, and liquidity issues, the system became unsustainable, leading to bad debt that could not be repaid under the original terms.
To address this issue, Thorchain implemented a debt-to-equity conversion, replacing outstanding debt with a new token: TCY. This move effectively wipes away all debt and liabilities from the protocol while giving affected users a new asset with upside potential.
🟢 How Does Debt-to-Equity Conversion Work?
Instead of forcing Thorchain into an unsustainable repayment structure, the protocol converted all outstanding debt into TCY tokens.
✅ Key Mechanism
Debt is wiped out completely
Instead of repaying borrowers in RUNE or BTC, Thorchain issues 1 TCY per $1 of defaulted debt.
This means users now own TCY instead of debt, effectively giving them a stake in the protocol's future earnings instead of waiting for payback.
TCY earns RUNE from swap fees
10% of all Thorchain swap fees are redirected to TCY holders.
TCY holders receive daily RUNE payouts based on their proportional holdings.
TCY can be traded freely
A RUNE/TCY liquidity pool allows users to buy, sell, or hold TCY based on their market outlook.
The price of TCY is market-driven and will fluctuate based on demand, speculation, and Thorchain's revenue.
Thorchain no longer carries any debt burden
With all debt converted to equity (TCY), the protocol removes all obligations to repay lenders in BTC or RUNE.
This stabilizes the system, allowing Thorchain to continue operating without insolvency risks.
FAQs
How do I claim my TCY?
You don't need to manually claim TCY—if you had outstanding debt in ThorFi, your allocation is automatically credited to your address. You can check your balance using
How long will RUNE payouts last?
TCY holders receive 10% of all Thorchain swap fees in perpetuity, meaning there is no fixed end date for RUNE payouts. As long as Thorchain generates swap volume, TCY holders will continue to receive rewards every 24 hours.
What happens if I sell TCY?
TCY is tradeable on the RUNE/TCY liquidity pool, where its price is determined by supply and demand. If you no longer want passive RUNE income, you can sell TCY at any time. However, selling pressure might impact its price, so consider market conditions before exiting.
Is there a risk of TCY becoming worthless?
Yes, TCY's value is entirely market-driven, meaning it could appreciate or decline based on Higher swap volume and demand or Low swap volume and high sell pressure