Decentralized Asset Bridge Accessing Different Blockchains
BoringDAO is a decentralized bridge that connects all blockchain assets, we offer users a safe way to maximize their utilization rate of crypto assets.
Features
Safe
Multi-signature and BOR Tunnels provide a double guarantee of assets.
Fast
oToken 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 oToken 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.
Tunnel Mechanisms
Double-Pledge Model
Each oToken is backed by 200%+ assets on average.
100% equivalent original crypto assets
15% - 150% equivalent $BOR / other Tunnel pledge
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.
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.
Incentives
Mint Mining
Mint Mining is the mechanism which users can wrap their non-ERC20 tokens to oToken, e.g. Bitcoin to oBTC and get $BOR as rewards. 30% of $BOR will be distributed through Mint Mining.
Boring Farm
Boring Farm is the mechanism which users can use oToken, $BOR LP Token, oToken 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
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
The community is able to revise the minting commission, rewards distribution for minting commission, and the output reduction rate through a referendum.
Boring Farm
The community can propose more Yield-Farming Pools through a referendum.
Tunnel
The community can propose new assets tunnels as long as the deposit requirements are met.
Insurance
BoringDAO's insurance will be managed under DAO governance.
Treasury
The community has the full control over the BoringDAO's treasury.
Investment Partners
