THORChain Yield

TCY Price

What Is TCY?

10% of all revenue on THORChain, in perpetuity, goes towards TCY tokens.  TCY token holders have to stake their tokens in order to access their pro rata share of the revenue.  The revenue is paid out in RUNE tokens (the main token of THORChain).

There are no block rewards on THORChain.  All the revenue is real, paid by real users.  Therefore, the revenue going towards TCY tokens is real and not inflationary.

What Makes TCY Unique?

The yield from unclaimed and unstaked TCY is forfeited and redirected towards the protocol-owned reserve and used to buy more TCY.  The yield from the TCY tokens owned by the protocol is also used to buy more TCY tokens.  This creates a constant bid on the TCY token.  In theory, over a long enough period of time, the protocol will own the entire supply of the TCY tokens as compounding takes off.

The TCY AutoCompounder is a permissionless smart contract that enables TCY holders to use their yield to automatically buy more TCY tokens and compound their position.  Users of this feature receive an sTCY token which will eventually be tradeable and/or used in future DeFi products.

History of TCY

TCY was created to resolve THORChain's $210 million debt created by THORFi.  THORFi was the combination of Lending and Savers features.  It was defaulted on in January 2025.

Each $1 of debt was converted into 1 TCY, resulting in 210 million TCY tokens outstanding.  This way, creditors received tokens instead of a total loss.  Giving them a piece of the network's future revenue, aligning their interests with the protocol, and helping stabilize the network.

What's Next for TCY?

The THORChain Treasury has committed to buying $5 million worth of TCY in the open market.  This is to provide support for the TCY price and help create liquidity for any TCY holders who wish to exit their position instead of holding on and waiting for the TCY price to go up.

The Treasury will not be selling RUNE to make the TCY purchases and instead will sell other crypto assets to purchase TCY.  Therefore, this will not create any sell pressure on the RUNE token.

What can your coin/token be used for?

TCY does not have voting rights or influence in the governance of the THORChain network.  It is solely a yield generating token.

The TCY token can only be used for speculating on the revenue earnings potential of the THORChain network and collecting a pro-rata share of 10% of network revenue.

It's possible to use TCY tokens to become a liquidity provider in the TCY/RUNE pool, however it's advised against doing that, since liquidity providers do not collect any fees generated by the pool.  All the fees generated by the pool are used to buy TCY and added to the protocol-owned TCY position.  Being a liquidity provider in the TCY/RUNE pool would only result in impermanent loss with no yield to make up for it.

Where can you buy THORChain Yield?

TCY tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade THORChain Yield is THORChain, where the most active trading pair TCY/RUNE has a trading volume of $24,036.28 in the last 24 hours.

What is the daily trading volume of THORChain Yield (TCY)?

The trading volume of THORChain Yield (TCY) is $23,493.45 in the last 24 hours, representing a -59.60% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for THORChain Yield (TCY)?

THORChain Yield (TCY) reached an all-time high of $0.3421 and an all-time low of $0.06144. It’s now trading -43.80% below that peak and 212.60% above its lowest price.

What is the market cap of THORChain Yield (TCY)?

Market capitalization of THORChain Yield (TCY) is $35,636,290 and is ranked #621 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of TCY tokens (190 Million tokens are tradable on the market today).

What is the fully diluted valuation of THORChain Yield (TCY)?

The fully diluted valuation (FDV) of THORChain Yield (TCY) is $40,340,520. This is a statistical representation of the maximum market cap, assuming the maximum number of 210 Million TCY tokens are in circulation today. Depending on how the emission schedule of TCY tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of THORChain Yield compare against its peers?

With a price increase of 2.90% in the last 7 days, THORChain Yield (TCY) is outperforming the global cryptocurrency market which is down -2.80%, while outperforming when compared to similar Yield-Bearing Tokens cryptocurrencies which are up 2.10%.