Tag Archives: THORChains

Governance Votes in Favor of Proposal 6 to Resolve THORChain’s Liquidity Crisis

Governance Votes in Favor of Proposal 6 to Resolve THORChain’s Liquidity Crisis

THORChain’s governance body has passed Proposal 6 as part of its restructuring efforts to resolve a nearly $200 million debt crisis. The approved plan involves converting defaulted debt into TCY (Thorchain Yield) equity tokens, eliminating the need for a private raise, and leveraging existing treasury funds to facilitate recovery. Under this framework, 200 million TCY tokens will be minted and …

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