Thorchains TCY token launch and trading today; will investors be made whole?

Introduction

TCY

• THORChain TCY token launch:
• Launch Date: THORChain is proceeding with the launch of the TCY token on May 5th.
• Purpose of TCY: TCY is designed to address debt from THORChain's THORFi lending and savers program and introduce a new yield model.
• TCY Utility: Holders of TCY can stake their tokens to earn RUNE, derived from THORChain protocol fees.
• Where to get it: Thorswap, Leodex, Others???
• Users impacted by the THORFi freeze can claim TCY.
• Initial Liquidity: There are plans for a TCY/RUNE pool to be launched with initial liquidity to support trading.

Body

Places to Trade Token and what does 1000 TCY get you?

LeoDex

1000 TCY for 249.81 Rune

Thorswap

1000 TCY for 232.67 Rune

Cacaoswap

TCY not tradeable on Cacaoswap today? Very odd since Cacaoswap Dev proposed this solution, but perhaps to maintain neutrality?

Summary / Updates

• TCY token launch is May 5th, 2025
• I know it is claimable on Thorswap and Leodex, using your Thorswap address from the wallet which contributed the funds which were lost on ThorFi; Savers or Lending
• I know the starting price was supposed to ne 10 cents but current swap rates suggest a current market price for the token of 17 cents or 0.17 USD
• So token holders who claimed their tokens are already up 7 cents or 70% for the day, so since they already borrowed 50% of the value of their holdings and both BTC and ETH are down 20% from the price when Thorfi froze everyones assets, the asset holders are almost half way to being made completely whole.
• Check back here for updates

Update: I tried to claim TCY on LeoDex and it didn't work.

Step one I connect my wallet and it sys You are ELigible to claim TCY Tokens, so I think cool.

Step Two click button labeled : CLAIM TCY TOKEN

click

Step Three Confirm Wallet Address

• Okay so it already has my wallet address in the field, and although I copy my address onto the clipborad using highlight and copy, I find the UI on't let me change the address that the UI has pre-filled the address box with...hmmm not ideal that I can't fill the address, but I check it and it looks like mine. So I check the box and click confirm.

Step Four it takes me to a wallet asset list.

• So I am thinking GREAT!

• I am going to see the TCY in my wallet right?

• Surely in the Thorchain Assets section, right next to RUne??

• So I peruse the list of assets and under Thorchain assets it lists the Rune I have in my wallet, but no TCY.

• So I refresh.

• I refresh again.

• I check transactions, and nothing.

Step Five I am disappointed using the Technology, again.

• I go to Thorswap and check the website and theres nothing there to cue you in on how to swap your tokens, what a shitshow.
• I go to Thorchain Discord and it says Thorswap will have something there in a week. WTF?? Amateur Hour or what?
• But It says go to Thorchain.org to claim your TCY. Why would I not go to Thorswap but Thorchain.org??
• I go to thorchain.org and can't find a single thing on the TCY Token ... once again, I am thinking WTF. Amateur hour?
• WTF we have been waiting months for our money and this stuff happens.
• I am pretty tired of tech that doesn't work. Pretty frustrated and exasperated.
• I go to Thorchain discord to see if anyone is writing about the TCY token claiming and any problems and it is pretty quiet, as if nothing happened today???
• Mn, this stuff is enough to make you go back to TradFI...

Update: 05/09/2025

• The UI for Leodex Dashboard and swapping is beautiful and intuitive
• But it didn't work for me, so I can't claim my TCY.
• I went to the Inleo Discord and placed a ticket, and it's been three days, I am waiting for a team member to reach out and help me with my swap.
• Beutiful Tech .... just needs to work, and customer service needs to be responsive.

Posted Using INLEO