yTCY (Yield Bearing TCY) is an index asset within the THORChain ecosystem, created and maintained by NAMI.

It is designed to give users liquid access to TCY, the token that directly captures 10% of Thorchain’s system income. Unlike holding raw TCY, yTCY automates compounding, rebalancing, and exposure management, making it a more efficient way to benefit from Thorchain’s unique yield dynamics.

For technical specifications, you can refer to the NAMI documentation.

How does yTCY work?

yTCY is structured as a self-rebalancing index of TCY and RUNE, optimized to maximize yield while managing volatility:

1. Thorchain System Yield

• TCY receives 10% of Thorchain’s system income, making it the only token that naturally accrues network rewards.

• yTCY compounds these rewards, ensuring that holders benefit without manual staking or claiming.

2. Exposure to RUNE

• Since TCY liquidity is shallow, price fluctuations can be sharp.

• By combining TCY with RUNE exposure, yTCY smooths out volatility while still capturing upside from both assets.

3. Rebalancing & Liquidity Safeguards

• The index automatically rebalances toward the more attractive asset (RUNE or TCY), capturing volatility.

• Safeguards are built in to minimize slippage and prevent harmful trades in thin markets.

Weights & Rebalancing

• Initial weights: 80% TCY — 20% RUNE

• Rebalancing frequency: continuous, with checks on every contract crank (at least once per minute)

• Trigger: if the weight distribution moves more than 1% away from target, a rebalance is initiated

Fee Structure

• Redemption Fee (1%) → Collected by NAMI as index creators, applied when withdrawing

• AUM Fee (1% per year) → Collected by NAMI, calculated block-by-block and charged during contract interactions

• Mint Fee:

  • None if your wallet holds less than 1,000 RUNE

  • 1% affiliate fee if your wallet balance exceeds 1,000 RUNE → collected by RUNEBond

💡 The affiliate fee is a RUNEBond-specific policy: since yTCY (like yRUNE) does not contribute directly to THORChain’s node bonding, this mechanism ensures that large RUNE holders still support network decentralization and security by incentivizing them to bond capital into validator nodes.

Risks

As with any DeFi index product, yTCY comes with risks:

• Asset risk → Exposure to the price of TCY and RUNE

• Smart contract risk → The underlying NAMI contracts are audited, but never risk-free

• Rebalancing risk → Automated trading is designed to capture volatility, but outcomes depend on liquidity and market conditions

• Liquidity risk of TCY → Thin markets can cause sharp price moves and rebalance delays

• Ecosystem dependency → Changes in Thorchain’s income model or protocol parameters could impact performance

Why choose yTCY?

• Direct access to Thorchain system income via TCY

• Automated compounding and rebalancing for maximum efficiency

• Diversified exposure by combining TCY and RUNE

• Fully supported on RUNEBond, making access straightforward and user-friendly

👉 Get yTCY directly through RUNEBond and explore other yield assets here:➡️ RUNEBond Yield Assets Dashboard

yRUNE (Yield Bearing RUNE) is a new asset in the THORChain ecosystem.It offers a unique combination:

• Direct exposure to the price of RUNE

• Real yield capture from Thorchain System Income through TCY

• Automatic rebalancing between RUNE and TCY to maximize returns and benefit from volatility

In other words, yRUNE is the first liquid asset that lets users benefit from Thorchain’s system income, something not possible with a standard liquid version of RUNE.

yRUNE is an index product originally developed by NAMI, the team behind the Index contracts.For technical specifications, see the NAMI documentation.

How does yRUNE work?

yRUNE is a self-rebalancing basket of RUNE and TCY, designed around three main drivers:

1. TCY Yield

• TCY captures 10% of Thorchain’s system income

• The yRUNE contract is whitelisted to receive these rewards, so holders benefit directly

2. RUNE / TCY Price Ratio

• TCY’s shallow liquidity causes price swings that create opportunities

• yRUNE dynamically rebalances toward the “cheaper” asset, capturing value over time

3. Liquidity & Slippage Protection

• Safeguards in the contract ensure rebalancing minimizes market impact

• If liquidity is too thin, rebalancing is delayed until conditions improve

Weights & Rebalancing

• Initial weights: 80% RUNE – 20% TCY

• Rebalancing frequency: with every contract crank (at least once per minute)

• Trigger: if weights deviate by more than 1% from the target

Fee Structure

• Redemption Fee (1%) → Collected by NAMI as the index creator, charged when withdrawing

• AUM Fee (1% per year) → Collected by NAMI, calculated block-by-block and captured on contract interactions

• Mint Fee:

  • None if your wallet balance is below 1,000 RUNE

  • 1% affiliate fee if your wallet holds more than 1,000 RUNE → collected by RUNEBond

💡 This affiliate fee is a RUNEBond-specific policy: it ensures that large RUNE holders still support THORChain’s security by incentivizing them to direct part of their capital into bonded validator nodes, since yRUNE itself does not contribute to bonding.

Risks

yRUNE includes the usual risks associated with DeFi assets:

• Asset risk → Exposure to the price of RUNE and TCY

• Smart contract risk → The underlying contracts are audited, but never risk-free

• Rebalancing risk → Designed to capture volatility, but returns depend on market conditions

• Liquidity risk of TCY → Shallow liquidity can lead to sharp price movements

• Ecosystem dependency → Changes in Thorchain parameters or protocol upgrades may affect performance

Why choose yRUNE?

• The only liquid asset combining RUNE’s price exposure with real system yield from Thorchain

• Automatic rebalancing with safeguards against slippage

• Seamless access directly through RUNEBond

👉 Get yRUNE now through RUNEBond and explore other yield assets here:➡️ RUNEBond Yield Assets Dashboard

TCY is a native token on THORChain that allows investors to earn real yield in RUNE.

By staking TCY, you receive a share of 10% of the protocol’s system income, distributed daily in RUNE.

In simple terms:

• Hold TCY → Liquid token you can trade anytime.

• Stake TCY → Non-tradeable position that pays you daily RUNE.

How Does It Work?

• Buy TCY → Available as a liquid token that can be traded like any other asset.

• Stake your TCY → Once staked, TCY is locked into a native staking module. It no longer has a ticker or market value but instead generates daily RUNE rewards to the same wallet address that staked it.

• Monitor your rewards → Rewards are paid directly in RUNE, usually within 24 hours.

⚠️ Important: Currently, staking is not yet supported directly from RUNEBond. If you need more information about staking TCY, you can ask in our community telegram.

Why TCY is Attractive for Investors

• Real yield, not inflation: Rewards come from protocol income, not token printing.

• Paid in RUNE: One of the most liquid and central assets in the ecosystem.

• Dual utility: Keep TCY liquid for trading, or stake it for daily RUNE yield.

• Flexibility: Stake or unstake at any time depending on your investment strategy.

Getting Started

1. Buy TCY through RUNEBond’s swap interface.

2. If you want to generate yield, stake TCY (note: not available directly in RUNEBond yet, ask in Telegram).

3. Monitor your rewards to track your daily RUNE income.

4. For help or questions, join the community on Telegram.

TCY in Perspective

For investors, TCY offers two distinct paths:

• Liquid TCY → tradable asset, subject to market price dynamics.

• Staked TCY → non-tradeable position that pays daily RUNE yield directly to your wallet.

This design gives investors both flexibility and income potential, making TCY a standout yield opportunity in the THORChain ecosystem.

👉 Track TCY and explore other yield-bearing assets directly through RUNEBond: ➡️ RUNEBond Yield Assets Dashboard