# 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? <a href="#c6df" id="c6df"></a>

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: <https://app.thorswap.finance/tcy>

***

## **Key Details** <a href="#id-0cba" id="id-0cba"></a>

* 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 <a href="#deea" id="deea"></a>

$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 <a href="#c996" id="c996"></a>

* Launch details: <https://medium.com/thorchain/tcy-launch-d48bb63cfc4e>
* THORFi Unwind: <https://medium.com/thorchain/thorfi-unwind-96b46dff72c0>
* GRC Video: <https://youtu.be/Vigy8uxTt1c?t=712>
* P6 proposal: <https://gitlab.com/thorchain/thornode/-/issues/2152>
* P6 amendment: <https://gitlab.com/thorchain/thornode/-/issues/2154>

**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)