BoringDAO
Features
Safe
Multi-signature and BOR Tunnels provide a double guarantee of assets.
Fast
bToken can be minted/redeemed within several minutes.
Permissionless
User friendly, anyone can freely use BoringDAO protocol.
No-threshold
Non-ERC20 token can be easily converted to bToken with just one click.
Decentralized
BoringDAO is deployed on Ethereum and operates in a fully decentralized way.
DAO Governance
The community members are the real controllers of BoringDAO.
Boring Tunnel
For each blockchain asset, there will be an exclusive minting tunnel operated in the form of DAO and performing bi-directional mapping between blockchain assets and ERC-20 tokens.
Boring Tunnel
Tunnel Mechanisms
BoringDAO
Double-Pledge Model
Each bToken is backed by 200%+ assets on average.
100% equivalent original crypto assets
15% - 150% equivalent $BOR / other Tunnel pledge
Tunnel Features
Operating by the DAO-based community.
Freely creating new tunnels through pledging.
70% minting fee is allocated to tunnel operators.
The total value of pledged tokens is proportional to the maximum "wrapping" limit of each tunnel.
BoringDAO
Incentives
Mint Mining
Mint Mining
Mint Mining is the mechanism which users can wrap their non-ERC20 tokens to bToken, e.g. Bitcoin to bBTC and get $BOR as rewards. 30% of $BOR will be distributed through Mint Mining.
Boring Farm
Boring Farm
Boring Farm is the mechanism which users can use bToken, $BOR LP Token, bToken LP Token, and Tunnel Pledge Token to farm $BOR. 30% of $BOR will be distributed through Boring Farm.
DAO Governance
BoringDAO will govern in accordance with the DAO method. The governance authority of BOR will be unimaginably great. BOR holders are the dedicated controllers of BoringDAO. Without DAO governance, cross-chain assets can not be trusted.
Assets Custodians
Assets Custodians
Custodians are from the community with a high reputation and more considerable tunnel pledge amount through the node-election as well as reputable institutions.
Minting
Minting
The community is able to revise the minting commission, rewards distribution for minting commission, and the output reduction rate through a referendum.
Boring Farm
Boring Farm
The community can propose more Yield-Farming Pools through a referendum.
Tunnel
Tunnel
The community can propose new assets tunnels as long as the deposit requirements are met.
Insurance
Insurance
BoringDAO's insurance will be managed under DAO governance.
Treasury
Treasury
The community has the full control over the BoringDAO's treasury.
Investment Partners
Bitcoin
HASHKEY
SNZ
Youbi
Snapfingers
ALTonomy
PuzzleVentures
Bilian