THORChain plans to issue equity tokens to deal with $200 million debt crisis
As part of the efforts to resolve the debt crisis, THORChain's management has approved an important proposal to convert defaulted debt into equity tokens. Specifically, the approved plan involves converting defaulted debt into equity through the issuance of a new token called TCY to creditors. TCY token holders have the right to permanently receive 10% of THORChain's income.
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