Thorchain’s Node operators approved a plan to convert $ 200 million into self -capital tokens. However, Thorchain community members express their concerns about their long -term applicability. However, under the influence of this development, the local tokens of the project Rune’s price has risen. Token price, which fell during the day from $ 1,20 to $ 1.54 leaped.
Thorchain confirmed the critical offer!
The decentralized liquidity protocol Thorchain’s Node operators approved an offer to solve liquidity problems by converting the platform’s default debt into self -capital. Kriptokoin.comAs you have followed, Thorchain suspended lending and saving programs for Bitcoin and Ethereum to prevent a bankruptcy crisis on January 23 and restructure the debt of the protocol. The platform stopped its Thorfi its fire for 90 days to allow the community to develop a plan to stabilize its activities.
After the pause, the Thorchain community proposed different reconstruction plans to ensure that the network continues to work while compensating the affected users. On February 2, the Node operators of the platform approved an offer, including the transformation of the default debt into token representing the self -capital on the platform.
Plan for converting the 200 million dollar debt into self -capitalWhat will the new plan bring for Thorchain?
The approved plan includes 200 million “TCY” token, and the air to be eliminated by affected users. Each token will represent $ 1 of the platform debt. It will also allow users to request a TCY per debtor. According to the plan, the new token will receive 10 %of the revenue of the network forever. Aaluxx Myth from Maya Protocol, the author of the proposal, described the plan as follows:
TCY permanently receives 10 %of the fees paid to TCY Holdings as Maya every 24 hours and reveals the upward potential for the new liquidity that saves users. Users who avoid risk can sell Rune to any asset they choose every day.
In addition, Thorchain Treasury will create a liquidity pool that allows token owners to sell their demands depending on their own appreciation. The platform said Thorchain’s market request for the income of the revenue “as it takes place in the token price” plan allowed creditors to come out under their own conditions.
Community members do not participate in the restructuring plan
Although the restructuring plan aims to reimburse investors, some community members expressed their concerns. A community member wrote that the restructuring plan was complex in X and that he would require additional investment and trust to Thorchain, who has a background of managing money and trust. The user said that the new capital inflow with the plan was “permanently taxed”.
Source: Rowdy NodeMeanwhile, a new token, which gives its owners 10 %of the platform’s income, led to concerns about whether this would be described as an unregistered securities. Another X user suggested that Thorchain could face legal action. Another member of the community seemed to have been convinced of the token’s continuous income. The X user said it would only be until it changes the platform mind.
