A large island lying around ten day's fast travel from Acryn and twenty from Valydd, Thys and the smaller islands surrounding it are a mixed bag of legitimate traders, barely hidden pirates and locals happy to work for one or both of them. The convenience of the island for trading between Caul and Acryn and Valydd means that many are willing to put up with the threat of piracy, while the pirates in turn try to avoid preying too heavily on any one company, in order to ensure that their golden goose is not scared away. Thys has no official ruler, but deference tends to be given to the Master of the Consortium, a representative of all the local groups with business on the island. That the consortium often has pirates and merchants rubbing shoulders within its ranks is something that it is considered impolite (and often fatal) to point out.
Thys is currently held by a renegade faction of the Serradic navy.