TORN is an ERC20 compliant token with a fixed supply that governs the protocol, token holders can submit proposals and vote to contribute.
Initial token distribution
- 5% (500,000 TORN): Airdrop to early users of ETH pools
- 10% (1,000,000 TORN): Anonymity mining for 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
Early adopters who used in Tornado Cash were allocated a share in governing the protocol on launch to aspire for an equitable demographic in the asset's economics.
The early adopter addresses that made deposits into ETH pools before block
11400000 were allocated a non-transferable TORN voucher (vTORN) that could be redeemed 1:1 to TORN within 1 year, from December 18, 2020, to December 18, 2021. The expired assets are then reallocated back to the treasury and participants that failed to claim can no longer redeem.
The airdropped amount depended on a users’ deposit size and age, larger deposits and older deposits would have a greater allocation. Multipliers for deposit size are logarithmic:
So that a larger deposits like 100 ETH only got twice as many tokens as a 1 ETH deposit, the multiplier aspired to reduce any skews by focusing on proactive usage and not purely volume.
The exact curve for the time multiplier looks like this:
The exact airdrop formula was the following: