Offer 120k TORN for a liquidity mining campaign on the Uniswap ETH/TORN pair to last 6 months. Vote now: https://app.tornado.cash/governance/6
After some discussions on this thread, they seem to be a pretty strong support for a TORN liquidity mining campaign. As of now, 89% of the poll participants voted yes.
TORN liquidity are very thin, a $30k swap currently causes more than 2% slippage. As a consequence, it is hard to enter any sizable TORN position.
Moreover, the governance treasury currently have plenty of TORN tokens available to incentivise liquidity.
I think we should go ahead and make a formal proposal to vote on-chain.
According to the poll results, the distribution should be setup as followed: Offer 120k TORN tokens in a liquidity mining campaign to last for 6 months. 120k is about 43% of the currently available TORN token in the treasury and about 2.4% of the total treasury funds vested over 5 years. 6 months would means that the campaign will last until late October 2021.
Target Uniswap pair:
Campaign duration: 182 days
Reward amount: 120000 TORN token
The contract used for the distribution is very the popular staking contract from Synthetix. It was audited by Sigma Prime in February 2020. This contract was also used by the Uniswap team in their original UNI distribution, Sushiswap, and many more Defi projects. The contract works by depositing Uniswap ETH/TORN LP shares. It distributes a constant amount of token reweard on a per second basis, pro rata to your share in the pool.
The repo for the proposal code can be found here:
The proposal contract was deployed and verified at this address:
Like with previous proposals, someone with 1k TORN needs to submit the vote on-chain before we can start to vote.
Update 1: The proposal is live! Go vote now: https://app.tornado.cash/governance/6
Update2: The proposal was accepted, thank you for voting! The staking contract was deployed here.