Relayers Dao Funding Grant

Hi everyone!

I’d like to “apply” for the fund grant in order to run and further improve Relayers Dao.

Summary

Relayers Dao is a relayers tool for the Tornado Cash that enables the user to become a relayer and stake TORN to get TORN.

The scope of the funding is for audit & marketing in order to ensure the security and help more people share the relayers benefit.It also can reduce the torn circulation and pump up the price of TORN.

Description

I’m a loyal fans to this community,i really like the project,i have read through the doc and count the Relayers APY,i quickly felt the enthusiasm that i share the Relayers Dao project with many members here.

Relayers data:Dune.

When i check the relayers data,only 10 relayers who stake over 10,000 torn can get the reward.For individuals who want to become relayer with less TORN,they don’t have the chance.The more relayers is,the more decentralized, efficient and fair for the tornado like the polygon and polkadot.

For individuals who don’t have develop experience and time to maintenance server,Relayers Dao is very convenient for us.

Relayers Dao is a convenient relayers tool for the Tornado Cash that enables the user to become a relayer and stake TORN to get TORN if you don’t have enough TORN and time.

The Relayers Dao code will be open source and invite professional audit Institution to audit in order to ensure the security.

I believe that Relayers Dao will definately motivate more people to know theTornado Cash and become the relayers.

The Relayers Dao can reduce the torn circulation and pump up the price of TORN.

For example ,currently,the amount of TORN locked in the Tornado Cash governance contract is 761,984 TORN when Tornado Cash staking average APR is 20-70%.The amount of TORN locked in the Relayers Dao will be 2-3 times because the relayers staking average APR is 100-200%,you can image the TORN price.

Product

Milestone

Current status

The preliminary stage of this porject is focused on developing the DApps.We already have finished UI design,front-end and smart contract,developer is test the DApps.The audit report and community ready to go.

Stage 1

Audit.

Hiring, Product development & community building.

Stage 2

Marketing, community manage.

DApp maintenance and update.

Budget

3,000 TORN

Usage of funding

We will use this budget for CertiK & Slow Mist audit,and marketing.

Social media
discord:Relayers Dao
twitter:https://twitter.com/RelayersDao

3 Likes

Hi @RelayersDao! This is a cool feature, where can we try it and see it, as it is already developed?
As a DAO we are only funding things that are either already fully developed and that we can use OR with a first version already available and live.

Regarding “community management”, we already have a CM so I don’t really understand this point. Is it a full open source and community owned project for Tornado Cash or a project that you will incentivize with a token supply for you etc…?

I think we already talked about this on Discord/Telegram if you are Kampai/yakito_ri as you wanted to make a token on it right?

Hello @bt11ba !Thanks for your reply.
Currently,we have finished about 80% of the development,we will submit on the github,then hope you can check it and give us advice.

Thank you.

hello @bt11ba.
Regarding “community mannagement”,this is our community for the Realyers Dao.

Relayers Dao is an independent and full open source project,which service for the Tornado Cash,like lido and and ssv.network. Liquid Ethereum Staking | Lido
https://ssv.network/

Currently,we don’t have the plan of issue token because of the market cap.

We maybe charge 20% fee of the staking reward later,the fee is for the dev,operation and maintenance,etc.

We are not the Kampai/yakito_ri.

Thank you.

Hi @bt11ba ! We indeed discussed a similar (but not exactly the same) idea on telegram. I’m not linked to @RelayersDao in any way, and I’ll make a proposal soon, with an on-chain POC that I’m writing right now!

@Onigiri thanks for your reply.

Our project is different with you after already read your proposal,Relayers Dao only focused on the Tornado Cash Relayers,whether your project is focused on governance staking.

Relayers Dao is a convenient relayers tool for the Tornado Cash that enables the user to become a relayer and stake TORN to get TORN if you don’t have enough TORN and time.

thank you.

2 Likes

@RelayersDao Since I did not publish it yet, may I ask where you saw it, and how you found it?

I get this from your proposal.

https://altornado.com/#/stake

Please can you clarify? I think the Relayers Dao is a very good idea but the data seems to show that smaller independent relayers are still doing ok.

please check this data for [Tornado Cash relayer list]

about 10 relayers who stake over 10,000 torn can get the reward,maybe the data not very correct and change.

For the relayers rules,please check this doc.
[For each relayer, calculate a score based on its staked TORN and its fee. The higher the stake, the higher the score is; the higher the fee, the lower the score is. For Ethereum mainnet, the formula used to calculate the score is stake * [1 - 25*(fee-0.33)^2] ; for sidechains, the formula is stake * [1 - 11.89*(fee-0.01)^2] .]
https://docs.tornado.cash/general/how-to-become-a-relayer

1 Like

Hello,friends.
@bt11ba
Github is available now,testnet will be online later.

the coverage test is


I will inprove it to 100%

2 Likes

Good news for #RelayersDao!
@bt11ba
Devs have completed the contract smart and 100% line and branch covered unit test,which is ready to audit.

RelayersDao testnet will be launched on polygon chain where users can test next week.

Please stay tuned.

1 Like

2 Likes


we are prepared to test
@bt11ba @Onigiri

1 Like

@bt11ba
Hello,Relayers Dao testnet is online,welcome all members to participate in test.

Please give us feedback if you find bug,thank you.

Testnet Guide:How to participate in testnet? - Relayers Dao

1 Like

@derbers @tusaneum @mioxa @drosven

Hello,as @bt11ba advice us that contact altornado dev to include Relayers Dao feature on your website, so anyone can use any feature on altornado including us once our testnet is done and product is online.

Looking forward to your reply,thank you.

1 Like

I have carefully analyzed the whole project. I think this project is unfavorable to TORN. It will make TORN more centralized and will not increase any income. This is your business and should not apply for donations to get community money

  1. The design of the current relayer system is to allow more people to participate, making torn more decentralized and more secure. If many people stake to your server, then most of the transactions will go to your relayer, and you can almost know the ip of all the withdrawers, which is contrary to the design of the relayer system

  2. The security of the server and the private key stored in the server cannot be guaranteed

  3. You can see the data that it is not only relayers with staking more than 10000+ can get reward. The smaller independent relayers have a lot of transactions,There will be more transactions if the rate is lower,The total income is the same.

The income APR of the relayers is not the value you calculated, You should add the loss of exchange rate and gas.

If you take 20% of the revenue, the user revenue may be less than the governance staking.

In short, this project does not bring additional benefits. Instead, it makes TORN more centralized and takes away the benefits that originally belonged to users. It is just a business

Thanks for your reply.
1.For centralized,you can check this ETH staking project,https://lido.fi/.
We don’t need to record the IP,in fact,the currently Tornado cash relayers also can do it,for withdrawers who need more anonymity all use browser(https://www.torproject.org/).

2.For security,you maybe misunderstanding the different of the relayer and gas payment private key,the relayer private key is not stored in the server,so that the relayer private key is safe and gas payment private key only have little token value even if the server is cracked.

3.For smaller relayers who also can get reward by lower the rate,but,many people don’t have time to maintain the server.

4.For the APR,we have add the loss of exchange rate and gas,you can check again.

5.For the 20% of the revenue,it can be changed as the market,it must be less if the APR is less than governance staking.

6.This is our business,but,it also the part of the Tornado cash ecology,it will definitely motivate more people to know the Tornado Cash and become the relayers. The Relayers Dao can reduce the torn circulation and pump up the price of TORN.

I think that the % should be decided by the community itself and the community should be able to change it through a governance vote/snapshot vote managed by the Tornado Cash multisig, if you want to apply for a grant

Thank you!
That’s a good idea,we will think about it and reply for you later.