On January 23, THORChain suspended its THORFi services such as the “Savers and Lending” programs due to financial instability. A 90-day restructuring plan was set in motion to mitigate the issues arising from the unsustainable debt accumulated in these services.

The community-backed plan involves the conversion of debt into equity, more specifically into a newly introduced token named TCY (Thorchain Yield) with a total supply of 200 million units. This implies that lenders and savers will be compensated with TCY tokens instead of bitcoin or ether, effectively transforming their debt claims into equity within the Thorchain ecosystem.

TCY holders will be entitled to a perpetual 10% share of Thorchain’s revenue. “THORChain will convert ~$200M of debt into equity through a new token that will receive 10% of network revenue in perpetuity,” stated the THORChain team.

As per the proposal, 200 million TCY tokens will be minted and distributed at a rate of 1 TCY per dollar of defaulted debt. The core team plans to establish a RUNE/TCY liquidity pool with $500,000 liquidity at $0.1 per TCY, backed by the $5 million from the treasury. This implies that for those with funds in Thorchain’s lending and savings programs (ThorFi), their assets will be converted into TCY rather than being repaid in the original asset. However, the timeline for recovery remains uncertain.

Despite the restructuring initiatives and proposal 6, RUNE’s price plunged an additional 35% over the past week amidst a broader altcoin sell-off, dropping from $2 to $1.3, according to The Block’s price page. The token has lost more than 70% of its value in the past 30 days. Despite these challenges, the network managed to maintain swap volume, processing $270 million in the last 24 hours.

Disclaimer: The Block is an independent media outlet that provides news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. This article is for informational purposes only and should not be taken as financial, legal, tax, or investment advice.

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The company’s artisans take risks with gemstones and metals to create fashionable pieces that are assertive in their expression but understated in their elegance. Each piece of jewelry sold by FEHU is designed and crafted by hand by skilled artisans. They exclusively work with the finest metals and most beautiful stones, combining strength and elegance in a way that can only be described as flawless.

Fehu Art. What Is It?

They are not only experts in jewellery, they also consider themselves as art people. Their slogan ‘In Art We Trust’ fully describe their philosophy. Now, they’ve added 10,791 Rune Stones to their exclusive NFT collection!

They combined traditional and modern techniques, with their artists drawing each layer digitally. Some of the Rune Stones they crafted are among the rarest in the world.

If you get the rune, you can save up to 30% on all jewelry purchases! The “Custom Weight” parameter, added to the NFT MetaData, is a one-off creation. The smaller the “Custom Weight” is, the better the discount you get.

Company Art and Philosophy 

There is no question that art ought to be revered as the pinnacle of human achievement and majesty. It opens the door to the past and glimpses into the future, understands the secrets of the world and communicates the illusive mood of the present.

There is a message in every piece of art, hidden in the signs and symbols that both depict and subvert the world around them. But can it survive the test of time and continue to be relevant? There are a lot of factors that go into deciding the answer to this question.

The masterworks of the Fehu label that have been brought to your notice are the end result of the artist’s creative process, a reinterpretation of the world around him, an effort to communicate the spiritual significance of symbols often believed to attract prosperity and plenty.

The PPYRAMID diagram represents the cosmic hierarchy. The pyramid symbol is a powerful tool for transcending the plane of multiplicity and disintegration to a more integrated whole. Furthermore, the pyramid represents the element of fire. In alchemy, the triangle is a symbol of the Sun and represents the element of fire. At the bottom pyramids – stability represented by a square. The pinnacle is a blaze, an outwardly focused beam of energy. Death and life are intertwined in the pyramid.

RUNE FEHU (FEHU) is an emblem of prosperity and happiness untarnished by arrogance and conceit. Completeness and finality are likewise associated with the rune Fehu.

It implies achieving one’s goals, feeling loved and appreciated, and getting what one was promised. The Rune Fehu (Fehu) will bring good fortune. Fehu is a rune of modern foundries, metalworking, and other cutting-edge industries since it symbolizes both the creative process and the purifying power of fire and the mind.

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