BOR (BoringDAO) Introduction
1. Brief Introduction
BoringDAO is a decentralized asset bridge project, runs as a DAO. BoringDAO can allow any blockchain with smart contracts such as Ethereum to become a Layer2 solution for Bitcoin, making BTC and other assets programmable. It uses 'Tunnel mechanism' and triple pledging to let BTC, LTC and other blockchain assets seamlessly engage with Ethereum and other blockchain network.
BOR is the native token for BoringDAO ecosystem, has both utility and governance feature. It can be obtained through mint mining and farming. The use case are pledging into tunnels to earn mint fees, payment and governance.
2. Detailed Introduction
BoringDAO is a decentralized asset bridge project, runs as a DAO. BoringDAO can allow any blockchain with smart contracts such as Ethereum to become a Layer2 solution for Bitcoin, making BTC and other assets programmable. BoringDAO has a uniquely designed 3-layer security mechanism that safeguards users' assets (Asset Layer: P2SH Multi-Sig+OP_Return; Contract Layer: over collateral; application Layer: decentralized insurance, like Nsure & Cover etc.). Mint Mining and Boring Farm works as a double incentive mechanism which further reward users for participation in the ecosystem. With the help of decentralized multi-signature mechanism and DAO governance, BoringDAO is a important blockchain infrastructure that bring Bitcoin into Ethereum Network and DeFi world, and make Bitcoin become real programmable.
3. Token Allocation
- 30% Mint Mining
- 30% Boring Farm
- 9% Infrastructure
- 11% Early Contributors
- 10% Team
4. Token Information and Release Schedule
- Total Token Supply: 200,000 BOR (Updated on 2021/01/07)
- Circulating Supply: 52,167 BOR (Updated on 2021/01/07)
- Private Round Price: 1st round private sale price is $65, 2nd is $80.
- Public Round Price: $180
Token Lock-up plan and release plan
- 11% Early Contributors vesting 1 year.
- 10% Team vesting 2 years.
5. Related links
- Official website: https://www.boringdao.com/
- Whitepaper: https://boringdao-prod.oss-accelerate.aliyuncs.com/BoringDAO_WhitepaperV2.7.pdf
- Social media
- Telegram: https://t.me/boringDAO
- Twitter: https://twitter.com/BoringDAO_Defi
- Discord: https://discord.com/invite/zCQ2ddp
- Medium: https://boringdao-defi.medium.com/
Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error or omission. Huobi does not take responsibility for any resulting direct or indirect losses.