First Terra IDO Announcement — Void Protocol
First Terra IDO Announcement — Void Protocol
At long last, Thorstarter is bringing projects from the lightning fast and quickly growing Terra Ecosystem. We are thrilled to announce our strategic partnership to launch Void Protocol on Thorstarter.
Introducing: Void Protocol
Void will give users control over financial anonymity as an opt-in financial privacy service on Terra. By depositing fixed amounts in the contract, waiting, then withdrawing to a brand new wallet, funds will be untraceable back to the original wallet.
Void Protocol will operate in a completely decentralized manner, offering maximal security, transparency, and peace of mind for users. Over time the protocol will operate under full control of the Void DAO.
As you know, THORChain and Thorstarter believe in individual sovereignty, privacy, and the right to do business as a humble anon. For this reason, we are most excited to bring you Void, a project building something perfectly in line with our values.
Why Void?
Privacy — This is something that isn’t by default on most blockchains. In the ever-changing space of DeFi, Void offers users a right to financial privacy.
Decentralization — As mentioned, we firmly believe in decentralization to be the future — This brings many advantages to users of the protocol by offering them the option to take part and have a say in the direction of the project.
Opportunity Cost — A drawback of the anonymity pool approach, is that to ensure reliable anonymity is reached, users must wait some time for deposits / withdrawals to occur after their deposit has entered the pool. Those who opt-in for these privacy features may have to wait weeks, even months in some cases depending on the Total Value locked. This is why VOID Protocol is fully focused on making this capital remain productive, giving rewards to the user while this process occurs.
Interoperability — The entire Terra ecosystem is full of brilliant people building amazing projects, all with like-minded goals of growing UST adoption and Terra use. Through the IBC (Inter-Blockchain Communication Protocol), the number of accessible projects on the Terra Blockchain is growing rapidly. It’s easy to see the value of what is growing and Void Protocol plans to make it as easy as possible for integration and collaboration.
How VOID Works
Deposit — The first step is to deposit into the VOID Anonymity Pool. Once this is done you will be provided with a cryptic phrase which will be generated in a decentralized and trustless manner, this will be needed to withdraw the funds. There will be one for UST deposits and one for LUNA deposits. Deposits will be made in a set amount of tokens in order to reach the goal of financial anonymity.
UST Deposits: 1,000 10,000 100,000
LUNA Deposits: 100 1,000 10,000
The set transaction sizes reduce the chance dramatically of your funds being followed, a string of 8 decimal points on the end of your deposited amount could potentially serve as an identifying feature.
Mix + Earn — When deposits are made they are all pooled together in one location. Since all transactions made are of the same amounts, it is extremely difficult to determine the origin wallet of the funds. The longer your transaction is kept in the pool, the more difficult it becomes to trace it as more transactions go through. There will be incentives going towards all the deposits in the pools which will further incentivize funds to be held in the pools for a longer period of time. Such as ANC Earn + More VOID tokens. You can learn more about VOID incentives here: Void Pool Incentives
Withdraw — Once your funds have been sitting in the pools for your decided period of time, withdrawing them to your chosen wallet is the next step. All that is required is to input a wallet address of your choosing, add the cryptic phrase you were provided with when the deposit was made and then accept the transaction. The funds the new wallet receives will be completely unassociated with any previous wallets, any links will be broken.
Upon withdrawal a base fee of 0.25%* will be paid to Gov DAO stakers. This fee can be negated by staking 10,000* VOID in the Gov DAO pool.
*These are the initial amounts, this is open to change via the DAO.
The $VOID Token
The Void token has a max supply of 100 000 000 and at its core is a governance utility token that will offer a voice in the future of the DAO. Additionally the Void Protocol will have mechanisms in place to reward committed Void holders and DAO participatory. $VOID is also a sweet ticker.
In addition to a Thorstarter Terra IDO, Void will do a Genesis Airdrop of 15M tokens distributed in 5 venues with focus on active users:
Luna Stakers
ANC Governance
MINE Stakers
Osmosis UST LP’s
To be decided
What to Expect Next
We are eager to assist Void as they develop their product and move towards an early 2022 IDO. We will be in touch with further dates and details soon.
Skål, frens
Thorstarter Links
⚡️ Website: https://thorstarter.org
⚡️ Telegram: https://t.me/thorstarter
⚡️ Telegram ANN: https://t.me/thorstarter_ann
⚡️ Twitter: https://twitter.com/thorstarter
⚡️ Blog: https://blog.thorstarter.org
⚡️ Discord: https://discord.gg/awmWNyWb
️️⚡️ XRUNE address: 0x69fa0fee221ad11012bab0fdb45d444d3d2ce71c