Tornado.Cash launched the governance token TORN, and will conduct airdrops and liquidity mining

Rhythm BlockBeats news, on December 18, the Ethereum privacy trading platform Tornado.Cash issued a document announcing the launch of a new governance proposal, which will launch the governance token TORN, hoping to fully give governance rights to to the user.

According to the official introduction, TORN is an ERC20 compatible token with a fixed supply and can be used to govern Tornado.Cash . Dissenters can make proposals and vote through governance to change the protocol.

TORN is not a fundraising tool or an investment opportunity. It will initially remain non-transferable until the community decides to unlock it for transfers via a governance vote (no earlier than 45 days after deployment).

The following is the initial distribution plan of the governance token TORN:

< br>

5% of TORN (500,000 pieces): airdropped to early users in the Tornado.Cas Ethereum pool;

10% of TORN (1,000,000 pieces):  Users who mine anonymously in the Tornado.Cash Ethereum pool will start to unlock linearly within 1 year;

55% of TORN (5,500,000 pieces): DAO treasury, which will be unlocked linearly within 5 years and has a 3-month lock-up period (cliff);

30% of TORN (3,000,000 pieces: Founding developers and early supporters will unlock the line within 3 years and have a 1-year lock-up period (cliff).

Airdrop method

Users who participated before the Ethereum block height 11400000 All can get airdrops. The official has announced the list, according to the rhythm query There are 7,000 addresses that can participate in this airdrop claim. TORN will be airdropped in the form of a non-transferable TORN voucher (vTORN), which can be exchanged for TORN at a rate of 1:1 within one year. Unconverted TORN will be included in the governance contract after 1 year and become part of the DAO treasury. (For details, please refer to: "See if your address can get Tornado.cash (TORN) airdrop?")

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia