diff --git a/.gitbook/assets/1-bje88nlnkbe29-zcs5agkw-2x.png b/.gitbook/assets/1-bje88nlnkbe29-zcs5agkw-2x.png new file mode 100644 index 0000000..3f16fbf Binary files /dev/null and b/.gitbook/assets/1-bje88nlnkbe29-zcs5agkw-2x.png differ diff --git a/.gitbook/assets/1-bjggju1rn4_qoxgcljfneq.png b/.gitbook/assets/1-bjggju1rn4_qoxgcljfneq.png new file mode 100644 index 0000000..7de5838 Binary files /dev/null and b/.gitbook/assets/1-bjggju1rn4_qoxgcljfneq.png differ diff --git a/.gitbook/assets/1-gmc0jw8zr5xfvrk5zyqmya.png b/.gitbook/assets/1-gmc0jw8zr5xfvrk5zyqmya.png new file mode 100644 index 0000000..93cd07b Binary files /dev/null and b/.gitbook/assets/1-gmc0jw8zr5xfvrk5zyqmya.png differ diff --git a/.gitbook/assets/1-megm4amqrrkx0qxva9iska-2x.png b/.gitbook/assets/1-megm4amqrrkx0qxva9iska-2x.png new file mode 100644 index 0000000..9142ba0 Binary files /dev/null and b/.gitbook/assets/1-megm4amqrrkx0qxva9iska-2x.png differ diff --git a/.gitbook/assets/1-ogfrad8p3gez14zh4jndiq-2x.png b/.gitbook/assets/1-ogfrad8p3gez14zh4jndiq-2x.png new file mode 100644 index 0000000..3f5a349 Binary files /dev/null and b/.gitbook/assets/1-ogfrad8p3gez14zh4jndiq-2x.png differ diff --git a/SUMMARY.md b/SUMMARY.md index 7f7a4f2..5c9a66a 100644 --- a/SUMMARY.md +++ b/SUMMARY.md @@ -3,4 +3,5 @@ * [Initial page](README.md) * [Tips to remain anonymous](tips-to-remain-anonymous.md) * [Anonymity mining](anonymity-mining.md) +* [TORN](torn.md) diff --git a/torn.md b/torn.md new file mode 100644 index 0000000..eaf51f7 --- /dev/null +++ b/torn.md @@ -0,0 +1,45 @@ +# TORN + +\_\_[_Written by Tornado Team_](https://tornado-cash.medium.com/tornado-cash-governance-proposal-a55c5c7d0703)\_\_ + +## Token + +TORN is an ERC20-compatible token with a fixed supply that governs Tornado.Cash. TORN holders can make proposals and vote to change the protocol via governance. + +**TORN is not a fundraising device or investment opportunity. It will remain non-transferable until the community decides that unlocking transfers via a governance vote, not earlier than 45 days following deployment, would comply with all applicable laws.** + +**Here’s 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 + +![](.gitbook/assets/1-bjggju1rn4_qoxgcljfneq.png) + +![](.gitbook/assets/1-gmc0jw8zr5xfvrk5zyqmya.png) + +## Airdrop + +Users who have believed in Tornado.Cash from early on should have a say in governing the protocol. For this reason, early adopters of the protocol will receive an airdrop of TORN. + +TORN will be airdropped to [all addres ses](https://github.com/tornadocash/airdrop/blob/master/airdrop.csv) that made deposits into Tornado.Cash ETH pools before block `11400000`. TORN will be airdropped in the form of a non-transferable TORN voucher \(vTORN\) that can be redeemed 1:1 to TORN within 1 year. TORN that aren’t 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 users’ deposit size and age — larger deposits and older deposits will receive more TORN. Multipliers for deposit size are logarithmic: + +![](.gitbook/assets/1-ogfrad8p3gez14zh4jndiq-2x.png) + + + +So a 100 ETH deposit will get twice as many tokens as a 1 ETH deposit. The multiplier allows large and small users of Tornado.Cash to both have a say in governance. + +The exact curve for the time multiplier looks like this: + +![](.gitbook/assets/1-bje88nlnkbe29-zcs5agkw-2x.png) + +The exact airdrop formula is the following: + +![](.gitbook/assets/1-megm4amqrrkx0qxva9iska-2x.png) + + +