Thorchain approves the conversion of 200 million US dollars into equity token
Thorchain approves the conversion of 200 million US dollars into equity token
- The Thorchain node operators have approved a restructuring plan with which he can convert his debts of $ 200 million in stocks.
- The move aims to stabilize the operations of Thorchain by dealing with its liabilities.
- The price of Thorchain (rune) rose by 13.7% according to the news, but has fallen by 72.7% last month.
The operators of Thorchain nodes have approved a proposal for restructuring plans in which a decentralized liquidity network converted a debt of $ 200 million in shares.
The approval will enable Thorchain to fix its financial liabilities, to stabilize the operation and to restore the trust of the users.
The Restructuring proposal called "Suggested 6", after Thorchain had decided to pause his credit and austerity programs on January 23 after the community -Iniscussions about the existential risks of his village feature.
The approved restructuring plan
proposed of the Aaluxx myth of Maya Protocol, the restructuring plan was coordinated by knot operators and is now officially ratified.
After this proposal, Thorchain will alleviate 200 million “TCY” token, each representing 1 US dollar of the platform's debt. These tokens are triggered to those affected by the suspension of the loans and austerity programs.
The TCY tokens are designed in such a way that they receive 10% of the Network revenue from Thorchain on eternal constant and owners offer a continuous sources of income in Rune token, similar to dividends.
In order to facilitate the liquidity for these new tokens, Thorchain's Ministry of Finance will sow a liquidity pool and enable owners to convert their equity token to other assets at their own discretion.
This setup aims to give the faith the flexibility of leaving their positions, since the market demand for Thorchain's sales reflects in the price of the tokens.
After approval of the proposal the Protocol, Rujira Network and Strangelove Labs.
The development teams have the task of securing a quick and yet meticulous rollout, whereby details about the exact timeline are still complete.
However,community members have expressed mixed reactions. While some consider this as a way to the stability and growth of Thorchain, others are skeptical about the long -term livelihood of the plan, the complexity of the new token structure and potential legal effects on the exhibition of what could be regarded as non -registered securities.
thorchain (rune) reaction to the development
After the announcement of the approved plan, the price for Rune experienced a remarkable increase. From the latest merchant data, Rune was $ 1.38 and marked an increase of 13.7%within the last 24 hours.
However, this positive movement takes place after a significant decline, with Rune 37.8%, 58.2% in two weeks and 72.7% in the past month last week, which indicates that the restructuring messages have come with a little optimism. Wider market conditions or concerns about the future stability of Thorchain could possibly continue to influence investor's mood.Source: Coinlist.me
Kommentare (0)