2.6 KiB
TORN
Written by Tornado Team ****& @bt11ba****
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
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 did receive an airdrop of TORN.
TORN has been airdropped to all addresses that made deposits into Tornado.Cash 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 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:
So a 100 ETH deposit 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:
The exact airdrop formula is the following:
