ThorChain plans to respond to a $ 200 million debt crisis by issuing equity tokens

Panews News on February 3rd, according to The Block report, Thorchain governance passed a restructuring plan proposal, which plans to issue nearly $ 200 million in default debt named TCY (Thorchain Yield) to equity. The proposal includes casting 200 million TCY tokens and allocated 1 TCY tokens according to the debt of the US $ USD. The core team is expected to create a Rune/TCY liquidity pool to provide $ 500,000 liquidity. The price of TCY is $ 0.1 per US $ 0.1. This fund will be supported by US $ 5 million. Tcy token holders have the right to permanently obtain THORChain's 10%income.

Earlier news, Thorchain announced a 90 -day reorganization plan to suspend Thorfi borrowing and savings redemption.