This purchase corresponds to approximately 900,000 TCY, which equals about 27.9%. The goal here is not only to monitor the protocol’s debt conversion strategy but also to ensure long-term confidence and create strategic opportunities.

What is THORChain?

THORChain is a decentralized cross-chain liquidity protocol that allows users to swap assets between different blockchain networks. One of the most important innovations that has emerged in the decentralized finance (DeFi) space is the automated market maker (AMM) model.

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What is TCY?

THORChain Yield ($TCY) was created as a token developed to solve the debt crisis that THORChain experienced for a certain period. Through Proposal 6, TCY aims to help debt creditors compensate their receivables at a rate of “1 TCY = $1”.

TCY holders can continuously receive 10% of THORChain’s revenue, which essentially turns creditors into long-term partners of the protocol.

How Will the $5 Million Buyback Work?

A total of $5 million from the THORChain treasury has been allocated for a buyback plan designed to support the TCY price and strengthen liquidity. Current progress shows that approximately 27.9% of the program has been completed, resulting in nearly 900,000 TCY being purchased. The plan includes weekly TCY buybacks worth $500,000, forming a 10-week process that can be clearly monitored through tracking channels such as Raynalytics.

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