> For the complete documentation index, see [llms.txt](https://docs.boringdao.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.boringdao.com/boring-economy/intruduction-of-usdbor.md). # Intruduction of $BORING $BORING is the governance token & utility token of the BoringDAO ecosystem. There are 2,000,000,000 $BORING, and over 60% of them will be fairly distributed to community members through Mint mining and Boring Farms. šŸ¦¾**Utility** 怐Pledge怑 BoringDAO adopted the triple-pledge model. In order to have new oBTC minted, the tunnel needs to have enough capacity. $BORING served as over-collateral pledged in Tunnels. In return, $BORING holders will receive PP Token (Pledge Providers Token), and get the fees for minting and burning. 怐Mint mining怑 Users will earn $BORING rewards, which are equivalent to 0.4% of the minting value. 怐Burning fee怑 Users will be charged a 0.2% fee when burning oBTC to redeem BTC. 怐Yield-farming怑 BoringDAO has partnered with SushiSwap, PancakeSwap and etc., which allow users to stake $BORING and earn yield-farming rewards. 怐Initiation and activation of new tunnel怑 5M $BORING will be required to initiate a new tunnel, and a total of 30M $BORING has to be pledged in order to activate the tunnel. šŸ¦æ**Governance** 怐BoringDAO Improvement Proposal (BIP)怑 Anyone who hodl $BORING can initiate a proposal on the forum ā†’ [Boring Forum](/boring-forum.md). And other hodlers can vote on the proposal here ā†’[Snapshot](/snapshot.md). 怐DAO insurance怑 Insurance related decisions will be made by the community and users can share their thoughts and vote accordingly. 怐Adjustment about system parameters怑 Community members can propose to make adjustments to system parameters such as the minting fee or Asset Ratio. Originally, 15% of mint fee goes to the core developers, 15% goes to multi-sig signers, 70% goes to tunnel operators. Later on, community members can propose to change the distribution of minting and burning fees. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.boringdao.com/boring-economy/intruduction-of-usdbor.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.