6/8
Usage isn’t flashy — and that’s a feature

・Daily active users are modest
・But THORChain serves native BTC/ETH/SOL swaps
・Revenue spikes during volatility

This is infrastructure usage, not retail hype.

4/8
Revenue check (no assumptions)
Annualized THORChain revenue: ~$4.5M
→ 10% to TCY holders ≈ $450k/year

TCY market cap: ~$31M

That math alone puts TCY in the low double-digit yield range.

3/8
Holder behavior matters

・76% of TCY is staked
・~98% is auto-compounding

That’s not mercenary capital.
That’s long-term, cash-flow–oriented positioning.

Sell pressure is structurally muted.

TCY ($TCY): Is a ~12–13% Yield Actually Sustainable? (NFA)

1/8
After digging into the data, TCY is starting to look less like a “DeFi yield token
and more like an on-chain revenue-sharing asset.

Let’s break down why the ~12–13% yield estimate isn’t just hopium. 👇