Yesterday, many people thought that @THORChain would die, but it remains one of the most profitable protocols in the industry, and today we see the daily volume of swaps at the level of the market value of the entire protocol. 🤯
📊 $468M market capitalization
📈 $440M in daily swap volume
It's incomprehensible.
The death spiral that everyone was talking about yesterday was stopped thanks to Proposition 6.
This proposal converts defaulted debts into $TCY shares, which was adopted by a super majority of votes, and is arguably one of the largest moves in cryptocurrency at the moment.
The proposal can be summarized as follows
✅ $TCY holders will receive 10% of THORChain's revenue for the entire time 🤯
Creditors will receive instant capital, instead of paying off the debt for years.
There is no need for confidential private fundraising.
As for the numbers, here are the main conclusions:
☑️ 200M $TCY minted = 1 TCY per $1 of defaulted debt.
☑️ $TCY earns 10% of the protocol fee forever, paid in $RUNE
The $500K $RUNE /$TCY pool starts at $0.10 per $TCY.
Although it's hard to say anything positive about the current situation, there's nothing so bad that it doesn't benefit. In this case:
⚡️ $RUNE is burning down!
⚡️ The price of $RUNE may become a fateful capital in a few years.
⚡️ $TCY can become the best source of passive income of all time!
$RUNE $TCY
📊 $468M market capitalization
📈 $440M in daily swap volume
It's incomprehensible.
The death spiral that everyone was talking about yesterday was stopped thanks to Proposition 6.
This proposal converts defaulted debts into $TCY shares, which was adopted by a super majority of votes, and is arguably one of the largest moves in cryptocurrency at the moment.
The proposal can be summarized as follows
✅ $TCY holders will receive 10% of THORChain's revenue for the entire time 🤯
Creditors will receive instant capital, instead of paying off the debt for years.
There is no need for confidential private fundraising.
As for the numbers, here are the main conclusions:
☑️ 200M $TCY minted = 1 TCY per $1 of defaulted debt.
☑️ $TCY earns 10% of the protocol fee forever, paid in $RUNE
The $500K $RUNE /$TCY pool starts at $0.10 per $TCY.
Although it's hard to say anything positive about the current situation, there's nothing so bad that it doesn't benefit. In this case:
⚡️ $RUNE is burning down!
⚡️ The price of $RUNE may become a fateful capital in a few years.
⚡️ $TCY can become the best source of passive income of all time!
$RUNE $TCY