Multi-signature and BOR Tunnels provide a double guarantee of assets.
oToken can be minted/redeemed within several minutes.
User friendly, anyone can freely use BoringDAO protocol.
Non-ERC20 token can be easily converted to oToken with just one click.
BoringDAO is deployed on Ethereum and operates in a fully decentralized way.
The community members are the real controllers of BoringDAO.
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.
Each oToken is backed by 200%+ assets on average. 100% equivalent original crypto assets 15% - 150% equivalent $BOR / other Tunnel pledge
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.
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 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.
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.
Custodians are from the community with a high reputation and more considerable tunnel pledge amount through the node-election as well as reputable institutions.
The community is able to revise the minting commission, rewards distribution for minting commission, and the output reduction rate through a referendum.
The community can propose more Yield-Farming Pools through a referendum.
The community can propose new assets tunnels as long as the deposit requirements are met.
BoringDAO's insurance will be managed under DAO governance.
The community has the full control over the BoringDAO's treasury.