THORChain Plans to Address $200 million Debt Crisis by Issuing Equity Tokens
2025-02-03 07:31:42
As part of its restructuring efforts to address the debt crisis, THORChain's governing body has passed an important proposal to convert defaulted debt into equity tokens. Specifically, the approved plan involves converting defaulted debt into equity through the issuance of a new token called TCY to creditors. TCY token holders are entitled to 10% of THORChain's revenue in perpetuity.
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