Proposal #9 - Airdrop to TORN Governance Voters
Several useful TORN proposals have not passed. We believe this is for several reasons:
- The 25,000 voting quorum threshold is too high
- There is no incentive to vote compared to putting TORN in the unuswap LP reward pool
- The whole voting process is cumbersome and costs a lot of gas, keeping people disinterested in TORN governance
Proposal #2 attempted to reduce the voting quorum to 15k in order to make getting improvements to Tornado easier, which sadly did not pass.
Tornado cannot innovate and move forwards without passing proposals. We need to make passing them easier to increase the utility of the project, of TORN, and ensure the longterm survival of the project. As we cannot get the threshold lowered, we are proposing an alternative mechanism.
Solution - TORN Governance Voter Airdrop
This proposal gives 50,000 TORN, or 0.5% of the total supply, to previous voters in all proposals (both successful and unsuccessful). This accomplishes several things:
- The people who have already demonstrated that they can and will vote now have more capability to vote, thus making it easier to pass the 25k threshold without needing a proposal to lower the quorum.
- Gives TORN to the people most likely to hold TORN longterm, rather than AP miners and LPers who dump quickly.
- Rewards those who have been most essential to the TORN project - the governance voters - rather than quick-money LPers who have provided very little value to the project but for some reason are given tons of free TORN.
- Will encourage more people to vote in governance proposals because this proposal demonstrates that rewards can potentially go to them, even if an airdrop like this never happens again.
Every voter’s total votes from all prior proposals are added up, and then they are given their percentage of the total votes multiplied by 50,000 TORN.
If the proposal passes, the
executeProposal() function transfers 50,000 TORN to the airdrop voter contract
0x2aa1953bc1213935eb3ceef04de00428c6c7b808. Airdrop receivers will then be able to call the
claim() function on the airdrop voter contract, which will transfer their TORN from the contract to their address. This allows them to claim only when it is beneficial for them, for tax and other purposes. Receivers must
claim() manually to get the funds.
See linked github
Submitting the proposal
Somebody with TORN >= proposal_threshold can submit at any time. We will wait a few days for discussion and then submit ourselves if no one has submitted yet,
The contract ensures the airdropped funds are zeroed out before transferring to prevent any contract-to-contract trickery. We also have unit tests to ensure it works seamlessly. Finally, anyone can recreate the airdrop themselves from the linked repository to verify the values.
Deployed Proposal Contract
Who we are
Experienced software / solidity dev. This post has the backing of several large TORN holders and governance voters who are interested in making TORN governance easier.