CoinStats - THORSwap launches $TCY support

THORSwap launches $TCY support

8M ago•

Thorswap

bullish:

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$TCY claiming, staking and trading is now supported on THORSwap.

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 article.

The launch of the $TCY token marks the final phase of the community-driven unwind process, offering claimants a path to recovery through an on-going share of THORChain protocol revenue.

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.

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

How to Claim, Manage and Trade $TCY

1️⃣ Visit app.thorswap.finance/tcy

2️⃣ Connect wallets: as $TCY is a token on THORChain, you must connect a THORChain wallet or enter THORChain address (address beginning with thor…) to claim.

Note: Claims are tied to the original Lending collateral/Earn wallets.
Connect your original wallet for THORFi assets and then a THORChain wallet to claim. For supported wallet interfaces see this chart:

3️⃣ Claim: once your wallets are connected, eligible $TCY will be available to claim under the ‘Claim’ tab.

Click the ‘Claim’ button to continue, make sure you have a THORChain wallet (beginning with thor…) connected or manually enter one that you own to receive the $TCY.

NOTE: Claimed $TCY is automatically staked, earning yield immediately. To view, click the Unstake tab.

4️⃣ Use Stake/Unstake tabs to manage $TCY.
You can buy more $TCY to stake for on-going yield. Or withdraw and provide liquidity via the new TCY/RUNE pool.

5️⃣ Buy/Sell $TCY on the swap page: https://app.thorswap.finance/swap/THOR.RUNE_THOR.TCY

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: 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

Looking Ahead

With TCY live, THORChain turns the page to rebuilding trust and growth. THORSwap’s support ensures:
✅ Easy claiming for users
✅ Smooth management process
✅ Elegant trading experience

For more information, please see the official THORChain $TCY announcement.

Get Started:
🔹 Claim TCY: app.thorswap.finance/tcy
🔹 Trade $TCY on THORSwap
🔹 Track metrics: THORChain System Income | TCY Claims | Yield Tracker

About THORSwap

THORSwap is the leading multi-chain decentralized exchange (DEX) aggregator powered by SwapKit. Perform cross-chain swaps in a permissionless, trustless, and non-custodial manner.