TORN
Last updated
Last updated
TORN is an ERC20-compatible token with a fixed supply that governs . TORN holders can make proposals and vote to change the protocol via governance.TORN is not a fundraising device or investment opportunity.Hereโs how the initial distribution of TORN would break down:
5% (500,000 TORN): Airdrop to early users of Tornado Cash ETH pools
10% (1,000,000 TORN): Anonymity mining for Tornado Cash ETH pools, distributed linearly over 1 year
55% (5,500,000 TORN): DAO treasury, will be unlocked linearly over 5 years with 3 month cliff
30% (3,000,000 TORN): Founding developers and early supporters, will be unlocked linearly over 3 years with 1 year cliff
Users who have believed in TornadoCash from early on should have a say in governing the protocol. For this reason, early adopters of the protocol did receive an airdrop of TORN.
So a 100 ETH deposit get twice as many tokens as a 1 ETH deposit. The multiplier allows large and small users of tornadoeth.cash to both have a say in governance.The exact curve for the time multiplier looks like this:
The exact airdrop formula is the following:
TORN has been airdropped to that made deposits into ETH pools before block 11400000. TORN were airdropped in the form of a non-transferable TORN voucher (vTORN) that can be redeemed 1:1 to TORN within 1 year, from December 18, 2020, to December 18, 2021. TORN that arenโt redeemed will be swept into the governance contract after 1 year and become part of the DAO Treasury. Redeemed TORN will be available immediately.The airdropped amount depends on usersโ deposit size and age โ larger deposits and older deposits will receive more TORN. Multipliers for deposit size are logarithmic:
