Tornado Cash uses smart contracts that accept ETH & other token deposits from one address and enables their withdrawal from a different address. To preserve privacy a relayer can be used to withdraw to an address with no ETH balance.

Tornado Cash is a fully decentralized non-custodial protocol allowing private transactions on Ethereum and other adjacent blockchains. Tornado Cash was co-founded by Roman Semenov in 2019.

TORN token holders own and govern the protocol. They currently take a cut of the total withdrawal fees paid (revenue).

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Infrastructure

Tornado Cash

# Tornado Cash Maximum token supply Methodology

## 1. Overview

The token supply maximum metric represents the total number of tokens that can ever exist for the Tornado Cash protocol. This is a fixed value defined by the protocol's tokenomics and smart contract specifications. Unlike circulating supply metrics that change over time based on minting, burning, or distribution events, the maximum supply is a constant that was established when the protocol launched and remains unchanged throughout the protocol's lifetime.

## 2. Data sources

This metric relies on protocol-level specifications rather than dynamic blockchain data:
- **Protocol tokenomics documentation**: The official maximum supply specification for Tornado Cash tokens
- **Smart contract deployment parameters**: Token contract creation parameters that define the total supply cap
- **Protocol launch information**: The official launch date of the Tornado Cash token

## 3. Step-by-step calculation

### Component A: Protocol parameters definition
- **Purpose**: Establish the fixed protocol parameters for Tornado Cash token supply
- **Logic**: The calculation uses hardcoded values based on the protocol's original tokenomics design. The launch date is set to December 18, 2020 at midnight UTC, which represents when the Tornado Cash token became available. The maximum supply is defined as 9,999,997 tokens, which is the total number of tokens that can ever exist according to the protocol's smart contract specifications.
- **Key fields**: The `timestamp` field marks the protocol launch date, `timestamp_grain` is set to daily aggregation, and `token_supply_maximum` contains the fixed maximum supply value

### Component B: Data formatting and standardization
- **Purpose**: Format the hardcoded values into the standardized Token Terminal metric structure
- **Logic**: The finalize metric macro applies consistent formatting to ensure the output matches Token Terminal's standard schema. It adds the protocol identifier 'tornadocash' to associate the metric with the correct project and implements a fill-forward strategy to ensure the maximum supply value is available for all time periods from the launch date to the present.
- **Key fields**: The macro adds metadata fields like `data_id` for protocol identification and applies time-series formatting for consistent data presentation

### Final aggregation
- **Combining components**: No aggregation is performed since there is only a single hardcoded value
- **Currency conversion**: Not applicable as this metric represents token count, not monetary value
- **Time aggregation**: Daily grain is used with fill-forward strategy to propagate the constant maximum supply across all time periods
- **Final calculation**: The metric simply returns the fixed value of 9,999,997 tokens for all time periods from December 18, 2020 onwards, representing the immutable maximum supply established by the Tornado Cash protocol's tokenomics design

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Maximum number of tokens that can exist under the current token economics.

Tornado CashTORN

Maximum token supply

Maximum token supply

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