THORCHAIN TO ISSUE EQUITY TOKENS TO BATTLE $200M DEBT AFTER PAUSING BITCOIN, ETHER LENDING
?auto=format
--
✍️ THORChain's members voted to convert nearly $200 million of unserviceable debt into equity via a new token, TCY, to address financial uncertainties.
--
👉 THORChain's members voted to convert debt into equity
👉 New token called TCY will be created
👉 TCY tokens will be distributed to lenders and savers
👉 Holders of TCY will receive 10% of THORChain's revenue indefinitely
--
#technology
--
