Sherpa cash proposal

Hey everyone,

My name is Hari Seldon and I’m part of the Sherpa Cash project on Avalanche. Our team would really like to discuss a proposal we’d like to put forward to the Tornado community.

Firstly, we come in peace While I know we’re a fork, we really wanted to bootstrap privacy on Avalanche and this was the most logical way to do it.

However, we’re not here to just fork the hard work done by Tornado, but would rather want to be a project that engages and advances the science of zero knowledge.

There’s always a lot of debate about whether to launch a token when running projects like this. We had a lot of internal debates and there was a lot of support for not releasing a token. At the end of the day, we decided that with a token, it would allow us to create a more sustainable project that would be able to give back to the broader zk community.

As such we are looking at donating a percentage of the token to the Tornado community. Up to you, what you’d like to do with it. There’s some technical questions we’d need to answer. For example, we’re on Avalanche, so if you’d like your tokens to be on Ethereum, we’d need to bridge the tokens. Not a big deal, but we’d just like to understand what the preferences are.

Then, to the really exciting part. We won’t be taking a founders allocation. Instead the percentage of the token supply (15%) that was set aside for Founders will instead be donated to a Zero Knowledge DAO, that will be focusing on providing funding and support for projects and research institutions advancing the science of zero knowledge.

We have reached out to Poma and asked him if he’d like to be a member of this DAO and he has kindly agreed.

We are hoping this can be the start of an exciting journey into furthering the science of this important branch of cryptography.

Would love to hear everyone’s thoughts

First impression is that this is impressive and admirable

Few questions:

• What is the total distribution allocation of your token?
• What percentage is allocated for Tornado?
• For whom in the community of Tornado is the allocation directed? The treasury? TORN holders? Multisig? Other?

Given the generous nature of the airdrop and lack of founders’ rewards, I would be keen to showcase my own gratitude and support by preferring the Tornado allocation be distributed on Avalanche natively, rather than Ethereum. Avalanche is a quality project. Plus I don’t personally trust many bridge solutions

This is great to hear

In answer to your questions:

• 10 million fixed cap SHERPA supply
• Currently we’re thinking 4% of the supply granted to Tornado
• Up to the Tornado community how they’d like to receive it. We could snapshot your users and then whitelist them? Or give it to the multisig. Your community, your call.

Here’s the tokenomics

image810×370 16.3 KB

So the 1% is actually incorrect as we’re thinking of taking 100,000 SHERPA from there and then 300,000 SHERPA from the Initial Token Sale.

Also it still says Founding team for the 16% but that’s going to be donated to the ZK DAO, which Poma will then be a part of.

We’re also in discussions to bring Aragon over onto Avalanche to help us with managing the DAO.

Very exciting stuff and can’t wait to meet more zkp enthusiasts

Hey Hari, thanks for this post, quite interesting.

How do you plan to do this snapshot, what are the options ? Torn holders ? Could you explain ?

In my opinion, if you are looking to target actual users, you should find à way to airdrop holders ? I don’t think that you can target people that are mining.

I have a question:
你打算如何空投那些将自己的加密货币锁定在挖矿程序中的人？我所有的ETH都被锁定在TORNADO，说实话，我不知道怎么可能针对我。

I think the coins should be distributed to all members of community

Does your community want to have a vote?

Perhaps a snapshot on the best way to distribute the tokens. Options are:

• transferred to multisig
• airdropped to TORN users. This would mean your Ethereum address would need to match your Avalanche address. So would exclude non Metamask users
• Transferred to Treasury

Ultimately it’s up to your community what to do with them.

Personally, I have a ledger, so it is impossible to receive an airdrop? Why is that?

This is very cool! And it might be a pain to handle “the right way” logistically.

I’d recommend picking a date and snapshotting TORN balances. Extra points for including TORN trading pairs. Then set up a website allowing those wallets to confirm an AVAX address for receipt.

Also, I’m in a DAO using Aragon and we are planning to switch over to the Gnosis dao toolkit b/c of the bugginess of Aragon – something for you to look into.

Great move to Airdrop Sherpa Cash to Tornado Cash users!

For incentivizing claiming Sherpa Cash, you can reward the first 1000 claims 100 SHERPA each claim, the next 1000 claims 50 SHERPA each, the next 1000 claims 25 SHERPA each and so on for everyone who has withdrawn a deposit from Tornado Cash (by using withdraw address where SHERPA airdrop is sent to).

I don’t know if it’s technically possible but like Uniswap’s Airdrop, it should be possible to claim SHERPA cash to everyone’s Ethereum address (C-Chain Address) and people can access it by using MetaMask (import address if MetaMask is not used natively).

Could you do a poll so we can vote please ? I do think that we should have a vote regarding this.

Your ledger would be linked to Ethereum. Ledger doesn’t really work very well with Avalanche’s C Chain. If we distribute the tokens on Avalanche it means we have to Snapshot on Ethereum, but those addresses need to match the address on Avalanche

Great tip. I’ll start looking into the Gnosis DAO toolkit.

The main issue I’m finding at this stage, is all the engineering overhead. For example we’d need to build a tool to take a snapshot on Ethereum and then build a UI that then allows people to claim from.

The preference from my side, would be to just send it through to your multisig. Then you could then have a Snapshot vote. I see Tornado doesn’t have a Snapshot. Sherpa also doesn’t have yet, so not sure the best way for your community to vote on this would be?

We’d love to build this, but I just don’t think we have enough engineering capacity at present. This is why I’m in favour of sending it to your multisig, and allow the Tornado community to come up with the fairest solution

I have my torn on exchanges .I think it may not be possible to snapshot and deliver airdrop on exchanges since sherpa cash may not be listed on those exchanges.Why not snapshot the users here or may be first x number of users to claim ?

It should not be big deal to come up with a mechanism…cos there are just around 500 users here

I too have my TORN on the Uniswap LP. Wouldn’t it be more interesting to offer people to “register” with a snapshot of the wallets that have recently sent funds to Uni + snapshot of wallets that are mining ?

We can start on a vote right on the forum? You should make a poll ?

Everyone that voted on the last proposal (7) has their TORN locked until the 10th of June.

I have 200 eth in the mining pool, how can I track my portfolio? Could you explain more, because honestly it doesn’t seem possible.
In the worst case you will be double spending, as you can withdraw to a new wallet and then redeposit from another one, in order to get your reward twice.
I’m more motivated by the idea of it being transferred to multisig.

Cool, here’s a poll. Just a note about the Snapshot. If we did that I’d ask for some help from the Tornado community. I started Sherpa, but I’m also the PM at Pangolin DEX so I have less and less time every day. So would love the help if possible.