79 lines
5.7 KiB
Markdown
79 lines
5.7 KiB
Markdown
# Staking
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Since its inception, the TORN token is used by Tornado Cash users for governance. Its main utility is to allow the suggestion of proposals & voting both in-chain (through locked TORN for governance proposals) and off-chain (on Snapshot).
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Since the execution of [Tornado Cash 10th governance proposal](https://tornadocash.eth.limo/governance/10), TORN token has gained one other useful utility. Indeed, **with the introduction of a decentralized relayer register,** **a staking reward has been implemented for all holders with locked TORN in the governance contract.**
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[TORN](torn.md) holders can still lock their tokens into the governance contract as they used to for governance purposes. The significant difference is that they are now able to receive a portion of the fees collected by the protocol from relayers. Obviously, the proportion of the reward will be equal to the proportion of their locked TORN.
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#### **FROM WHERE THESE COLLECTED FEES COME FROM ?**
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The collection of these fees was made possible by the implementation of a decentralized relayer registry. In order to be listed on the protocol UI, relayers need to stake a given amount of TORN (currently set by governance at `300 TORN`) and keep enough TORN locked (\~`40 TORN` at the moment in April 2022) to be able to pay back the transaction fee to the staking contract. The functioning of this relayer registry is more extensively explained [on this forum post](https://torn.community/t/proposal-relayer-registry-setting-parameters-after-audit/2134) & on the [Relayer Registry documentation page](how-to-become-a-relayer.md).
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In a nutshell, for each withdrawal through the relayer method, the chosen relayer has to pay a fee to the protocol from the staked balance (that should still be maintained above the `300 TORN` threshold). Currently, this fee has been fixed at `0.3%` by the governance and can be changed at any time through an on-chain proposal & vote.
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### How to Stake TORN token ?
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First, [connect your wallet to Tornado Cash](../tornado-cash-classic/how-to-connect-your-wallet.md).
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As mentioned above, the process to lock TORN tokens has remained unchanged.
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* It happens here ➡️ [https://tornadocash.eth.limo/governance](https://tornadocash.eth.limo/governance) ⬅️, by clicking on **`Manage`**, then going on the **`Lock`** tab
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* The governance contract need to be approved in order to allow the transfer of your tokens to the smart contract. To do so, you need to click on the **`Approve`** button
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* Once the approval is confirmed, you can chose the amount of token to lock, then click on **`Lock`**
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* All you have to do after that is to confirm the transaction in your wallet & wait for the confirmation to come through
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### How to Claim Your Staking Reward ?
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Now that your TORN tokens have stayed nice & warm locked in the governance contract, you are able to claim your staking reward. How to do that? Everything is still happening here ➡️ [https://tornadocash.eth.link/governance](https://tornadocash.eth.limo/governance) ⬅️
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As soon as you log in the page, you will be able to see your staking reward at the top, just waiting for you to collect it 💰
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* Click **`Manage`** -> **`Claim`** tab -> **`Claim`** _button._
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.png>)
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## Alternative staking UI
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Since the deployment of [Altornado](https://altornado.com/#/stake) **TORN** holders have now an alternative open-source staking UI made by Tornado Cash Community, for the Tornado Cash community.
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Yes, hence the name altornado: from “alternative” and “tornado” 🌝
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Since the approval of [this](https://snapshot.org/#/torn-community.eth/proposal/0x331caa7b479669e8b836bd87ba9d91427c212ec29a2ede13d84c7190af18c931) snapshot proposal, they will be funded to deliver an amazing roadmap full of new features in the subsequent versions.
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### Ok, this sounds awesome, but how do I stake ?!
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* Let's start here ➡️ [https://altornado.com/#/stake](https://altornado.com/#/stake) ⬅️, connect your wallet by clicking on **`Connect your wallet`**.
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* You will need to approve the staking contract, so click on the **`Approve`** button.
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* After approving, you're ready to stake! You can choose the amount of TORN to stake, then click on **`Stake`** or choose the max amount available in your wallet by clicking **`Max`**.
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* Confirm the transaction in your wallet and start enjoying your staking rewards.
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### Hmmm, maybe not yet, now you need to claim your rewards in order to do so 😼
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* In order to claim your rewards, head over the [Claim](https://altornado.com/#/claim) tab.
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* Select the amount of TORN to claim, and click on the **`Claim`** button.
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* Confirm the transaction in your wallet and wait until your fresh earned TORN hits your wallet balance.
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### So far so good, but what if I need to unstake ?
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* To unstake your [TORN](https://etherscan.io/token/0x77777feddddffc19ff86db637967013e6c6a116c) tokens go to the [Unstake](https://altornado.com/#/unstake) tab.
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* Choose the amount of TORN you want to unstake.
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* You will now see the **`Unstake`** button, click it.
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* Finally, confirm the transaction in your wallet in order to complete the transaction.
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_That's it, we're done, easy peasy lemon squeezy_ :wink:
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\_\_
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_Written by_ [_**@bt11ba**_](https://torn.community/u/bt11ba/) _&_ [_**@ayefda**_](https://torn.community/u/ayefda)
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