The developers of Ethereum transaction-mixing service Tornado Cash presented a proposal aimed at transferring leverage to the community. It involves an airdrop of TORN tokens among the project’s early adopters.
Tornado.Cash is fully autonomous and decentralized, but static – it has no opportunity to develop, the project representatives said. The proposal is intended to change the situation.
„If it is approved, the management of Tornado.Cash will be entrusted to users. Thus, Bitcoin Era users will control their own privacy protocol,“ project representatives explained.
To transfer control to users, the developers suggested issuing a TORN token. Its holders will be able to make suggestions and vote for changes in the protocol.
„TORN is subject to distribution via airdrop among the addresses from which funds came to Ethereum pools Tornado.Cash before block 11400000. The coins will be distributed in the form of non-transferable TORN vouchers (vTORN). They will be redeemable with TORN at a 1:1 ratio for 1 year,“ according to the project’s website.
Senders of large deposits will receive much more generous rewards. For example, those who deposited 100 or more ETH will receive twice as much TORN as those who deposited 1 to 10 ETH.
Multiplier in the TORN distribution. Data: Tornado Cash blog.
If the Tornado Cash community supports the proposal, a total of 10 million TORN will be distributed.
TORN distribution structure. Data: Tornado Cash blog.
Recall that in September the leading non-custodial exchange Uniswap distributed 113 million UNI tokens. The recipients were 184,000 DEX users, including liquidity providers and SOCKS token holders.