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description
Staking alternatives for $TORN

Staking

Since the execution of proposal #10, an additional utility was enabled for the asset aside from governance. Through the deployment of the relayer registry, which acts as a official store of active relayers. This is then referenced on the frontend through referencing the registry contract. Relayers pay a percent of withdrawal fees to governance to have an active registration in the registry.

The fee mechanisim functions by relayers locking a listing amount (currently 300 TORN) and everytime a withdrawal is processed the registry fee (currently 0.3% of the relayer's arbitary fee) is deducted from their locked balance. This fee is then distributed proportionally to tokenholders locked into the governance contract. Relayers must keep a locked balance greater than the minimum balance (currently 40 TORN) to be marked as an active relayer and be recommended on the frontend.

The listing amount, registry fee and minimum balance are all configurable by governance.

How to stake?

Tornado Cash

How to Stake TORN token ?

First, connect your wallet to Tornado Cash.

As mentioned above, the process to lock TORN tokens has remained unchanged.

  • It happens here ➡️ https://tornadocash.eth.limo/governance ⬅️, by clicking on Manage, then going on the Lock tab
  • 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
  • Once the approval is confirmed, you can chose the amount of token to lock, then click on Lock
  • All you have to do after that is to confirm the transaction in your wallet & wait for the confirmation to come through

How to Claim Your Staking Reward ?

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 ⬅️

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 💰

  • Click Manage -> Claim tab -> Claim button.