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Welcome to BoringDAO
Multi-Chain Solutions for Every Crypto Asset
What is BoringDAO?
BoringDAO is a DAO-driven cross-chain service provider for every crypto asset.
A decentralized and permissionless solution to provide everyone with a safe, seamless and cost efficient experience for pegged tokens wrapping and assets transfers.
Product 1: oPortal Bridge
BoringDAO oPortal Bridge enables assets to be freely transferred between fourteen L1s & L2s (Ethereum, Polygon, BSC, Avalanche, Fantom, Harmony, Gnosis, OEC, HECO, OP, Arbitrum, Boba, Metis, Aurora), in a cost efficient and timely manner. Any tokens can be listed on BoringDAO oPortal, whether stablecoins or governance tokens.
Product 2: oToken Tunnel
BoringDAO oToken Tunnel offers a safe way to wrap PoW assets, including Bitcoin, Litecoin, and Dogecoin, in order to maximize utility in the multi-chain ecosystem.
Why we need BoringDAO?
For BoringDAO oPortal Bridge:
BoringDAO oPortal Bridge allows users to move ERC-20 tokens between different blockchains in the safest and fastest way. Assets such USDT, USDC, and even ETH originally issued on one chain can easily be utilized in a multi-chain ecosystem.
For BoringDAO oToken Tunnel:
Today, most of the commonly traded DeFi assets such as ETH, USDT, DAI, USDC, etc. are issued on Ethereum, as a result of which leaves the well-received non-ERC 20 token holders outside the DeFi world and unable to enjoy its service and liquidity mining & farming opportunities.
There has been a number of projects addressing this issue, for example, WBTC and renBTC, which allow some BTC to be utilized within the Ethereum network. Unlike their centralized solutions, BoringDAO oToken Tunnel makes non-ERC20 tokens compatible with broader DeFi world through a decentralized and safe manner.
How you can benefit from BoringDAO
Be a Liquidity Provider
Provide liquidity to the BoringDAO oPortal Bridge to farm and earn 35% of the cross-chain transaction fees & $BORING rewards.
oPortal
Moreover, extra bonus incentives for certain liquidity conditions: 0.5% extra bonus for providing liquidity to chains with less than 100,000 $USDT/$USDC in liquidity; 0.15% extra bonus for chains with less than 500,000 $USDT/$USDC in liquidity.
Be a Minter
- Pay a certain amount of commission fee to convert non-ERC 20 tokens into a wrapped ERC-20 version
Be a Tunnel Operator
- Pledge BORING token to increase oToken Tunnel capacity → app.boringdao.com
- Receive Pledge Provider Token (PP Token)
- Earn a respective share of the Tunnel commission
Pledge BORING assets to become tunnel operators and be responsible for the complete minting and redemption process. In return, tunnel operators obtain respective shares of the tunnel commission, similarly to staking in a liquidity pool.
However, keep in mind that if there is a Black Swan risk in the custody assets of the tunnel, the tunnel pledge will be settled and compensated to the minting users proportionally.
Be a Farmer
Last modified 4mo ago