ThorChain is a decentralized liquidity network with an interoperable blockchain that allows cross-chain token swaps in a non-custodial manner. It does not peg or wrap assets, but simply allows users to swap tokens across various Layer 1 blockchains. So, traders on ThorChain can seamlessly move from Bitcoin to Ethereum, to Polkadot and etc. without having to register for an exchange or go through KYC, like on CEXs. Hence, users are minimally exposed to custody and counterparty risks TCY is a token to compensate users for the closure of the Lending and Savers programs. Affected users can claim TCY equal to their debt at the time of the halt. TCY stakers receive 10% of THORChain's total income.