1.1 KiB
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| 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.