Hey everyone !
The GNOSIS team would like to partner with the Tornado Cash community.
Therefore I suggest it as usual on the forum, so that we discuss it beforehand and a governance vote is launched to see whether or not the community want this to be set up. (@Marty could do this as a test).
Should GnosisDAO partner with TornadoCash DAO to create GNO:TORN liquidity in Uniswap V3?
TORN token needs liquidity.
Here’s how it could be integrated, based on GNO team proposal:
Implementation of a GNO/TORN uniswap v3 liquidity pool, aiming for a 0.1% slippage (base on their proposal)
The pool will add more liquidity, as uniswap will route swap TORN -> ETH through the GNO/TORN pool, so we could have a TORN->GNO->ETH.
And arbitrage will create additional trading volume, which is important for TORN token.
Nowadays, GNO has 4x more liquidity than TORN (monthly trading volume):
- GNO: $1B trading volume
- TORN: $230M trading volume
GnosisDAO would send 13,000 GNO to the Tornado Multisig and the Tornado DAO would allocate, for example, 165,000 TORN to this operation by sending it to the Tornado Multisig.
(The figures shown here were suggested by the Gnosis team here).
This would require that:
On the side of Tornado Cash community:
- A governance vote to make a TornadoDAO -> Tornado multisig transfer (165,000 TORN)
On the side of Gnosis community:
- A governance vote be taken to make the transfer from Gnosis->Tornado multisig (13,000 GNO)
-> Here their post : Should GnosisDAO partner with Tornado Cash to increase GNO:TORN liquidity in Uniswap V3? - GIPs - Gnosis
What do you think about this proposal?
Have a good day/night !