> For the complete documentation index, see [llms.txt](https://docs.thorswap.finance/thorswap/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.thorswap.finance/thorswap/ecosystem/thorchain/tcy.md).
# TCY
{% hint style="info" %}
Following the default of the THORFi Lending and Savers (Earn) products in 2025, THORChain protocol has undertaken a multi-phase effort to restructure and resolve outstanding claims. **For more context, please see:** [**THORFi Unwind**](https://medium.com/thorchain/thorfi-unwind-96b46dff72c0) **article.**
{% endhint %}
### What is $TCY?
On January 24th, 2025 (block 19562016), when THORFi (Lending and Earn) was paused, all outstanding claims were dollarized. The dollarized debt amount is the amount of $TCY that is able to be claimed by each affected claimant. The full claims list is available [here](https://gitlab.com/thorchain/thornode/-/raw/develop/common/tcyclaimlist/tcy_claimers_mainnet.json).
As a yield-bearing token, $TCY is designed to distribute **10% of THORChain’s system income** to stakers (paid in RUNE) and enable claimants to **participate in THORChain’s long-term growth.**
Unlike an airdrop, TCY must be **actively claimed** by eligible users via an THORChain interface such as THORSwap:
***
## **Key Details**
* Claims must be made using the same wallet address associated with your lending collateral, Savers (Earn) position or Synths address.
* Claimants must connect/set up a THORChain address to claim $TCY.
* After claiming, your $TCY is automatically staked. It must be unstaked to sell or send.
* Staked $TCY tokens receive a 10% share of protocol revenue, distributed in RUNE.
* Yield is not earned until after the $TCY is claimed and staked.
* Any yield earned by unclaimed $TCY is used to buy back $TCY at market value.
* Initial liquidity will be bootstrapped by the THORChain Treasury and community participants.
* TCY price discovery will be market-driven, beginning below par value ($0.10) to reflect risk and forward-looking alignment.
## Why $TCY
$TCY embodies THORChain’s ethos of **accountability and innovation**:
* **For claimants**: A chance to recoup value while staying aligned with the protocol’s success.
* **For traders**: Price discovery begins at $0.10, offering early participation.
* **For THORChain:** A sustainable resolution that preserves protocol health.
### Historical context and updates
* Launch details:
* THORFi Unwind:
* GRC Video:
* P6 proposal:
* P6 amendment:
**Get Started**:\
🔹 Claim TCY: [app.thorswap.finance/tcy](https://app.thorswap.finance/tcy)\
🔹 Trade $TCY on [THORSwap](https://app.thorswap.finance/swap/THOR.RUNE_THOR.TCY)\
🔹 Track metrics: [THORChain System Income](https://rune.tools/earnings) | [TCY Claims](https://tools.runebase.org/) | [Yield Tracker](https://rune.tools/tcy)
---
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