What are the thoughts of the Tornado Cash community in implementing something similar to the SUSHI proposal?
To summarise the proposal:
Staking of TORN in governance and voting should be rewarded. With a relatively minor tweak we could incentivise TORN locked in governance with TORN from the treasury.
I would support this or something like this quite seriously
It seems it would also disincentivize TORN grifters from coming into the forum and demanding we start charging silly fees to tornado pools for no good reason to distribute to TORN holders. If or when fees are ever introduced, they should be given to governance participants, and this would be a first step towards ensuring that. Even if only with new TORN distributions initially
Great suggestion
I would support it too, if we can prove that it have a long term benefit.
Could the author make a post with a poll so people could vote ?
Ethdev, could you code this ? We need someone able to do it. This person will be remunerated when multi sig will be implemented of course
It appears Andre and 0xMaki will probably end up authoring this for Sushi. So we might not even need to roll it from scratch ourselves. Just wait a little bit for them to implement it and then use their code for TORN
0 voters
Thanks. I’ve added a poll below. Will keep an eye on the SUSHI proposal and provide an update when relevant so we can leverage existing code.
This might be the utility needed for TORN! I would suggest to reward staked lockedTORN not with just more TORN from treasury but use it to share revenue from relayers or fees. Pickle is doing this quite successfully with DILL: Pickle Interface
I need to read up on this design because I was immediately skeptic through the thought of incentivising pseudo votes from rewarding participation in governance. Although from the top level it looks like there is a timelock to comply for staking rewards?
Which would decrease the magnitude of pseudo votes through time commitments, will read it later today and voice my opinion.
It feels too early for revenue share from fees. In the long term it probably makes sense. But I think we need to give the protocol and community time to grow early on rather than extracting value through fees.
Any news, as community want it ? I’m not sure devs are for this proposal, but as there is a large amount of people waiting for this, it’s something that we could implement in the future, as a long term view ?
I think if sushi is doing it, it might be an idea worth implementing. Right now there is no incentive in locking torn in governance; DeFi is mostly about financial incentives so users have to be attracted also from that direction.
It could be interesting but first we need to incentivizes voting and use torn as fee for tx.
If we don’t motivate people to hold the token, nobody will hold it. I sincerely hope that such a reward will be put in place.
So they are still in the process of setting this up.
Anyway instead of xtorn we could just issue ap as rewards so we don’t overcomplexify things.
I don’t think it’s a good thing to issue AP, since it will create more demand for the swap, which will blow up the AP/TORN rate. Creating an xTorn is not as complex as it sounds imo
Isn’t it possible to vote a proposal with something that take a percentage of the gov treasury, to reward TORN users ? I think we should think about that, if we want to keep a strong community.
