# Welcome to BoringDAO ![Multi-Chain Solutions for Every Crypto Asset](/files/-MT5B8tkErRvA-UPBZTN) ### 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: BoringDAO Bridge Aggregator** The BoringDAO Bridge Aggregator provides a one-stop cross-chain bridging solution for you to safely transfer your assets at the best fee rate. We have supported more than 10 on-chain and off-chain bridges & DEXs & CEXs including BoringDAO oPortal V3, Multichain, cBridge, official bridges (Polygon, Avalanche, Arbitrum, OP, Metis, Aurora, KCC…), Binance, FTX, etc. With a router implemented, it is able to provide strategic cross chain solutions using multiple bridges in one transaction, giving the best fee rate that you will not be able to find elsewhere. **Product 2: 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 3: 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. ![](/files/pnepP2uYgh4mp1OJsWwv) #### **For BoringDAO oToken Tunnel:** ![](/files/pjcOaT9Hf4JFeBbc1rzT) 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. {% embed url="" %} 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 * Stake oToken in "Wild Wild West" to earn $BORING reward → [app.boringdao.com/farm/boring](https://app.boringdao.com/farm/boring) * Stake PP Token in "Manifest Destiny" to earn $BORING reward → [app.boringdao.com/farm/boring](https://app.boringdao.com/farm/boring) * More on Boring Farm → [app.boringdao.com/farm/boring](https://app.boringdao.com/farm/boring) * Farm on other DeFi projects→ [app.boringdao.com/farm/obtc](https://app.boringdao.com/farm/obtc) # Getting Started **A quick-start guide to BoringDAO→** **A quick-start guide to BoringDAO oPortal→** # How does oPortal work？ ## What is BoringDAO oPortal? BoringDAO oPortal provides cross-chain bridging solutions that enable assets to be freely transferred between blockchains. There are two types of Smart Bridge: Two-Way Bridge and Native Bridge. ## Two-Way Bridge Two-Way Bridge allows users to move their assets between any L1s and L2s, in a cost efficient and timely manner. Learn more about Two-Way Bridge * [oPortal FAQs (for users)](/smart-bridge/oportal-faqs-for-users) * [oPortal FAQs (for devs)](/smart-bridge/oportal-faqs-for-devs) ## Native Bridge Native Bridge provides frictionless interoperability between different blockchain networks. It is characterized by directly mapping the token from one chain to another, without requiring the issuance of intermediate assets. ### Example A: ETH to BSC ![ETH to BSC](/files/-MW7DB5xj_OqgSM0oCP3) 1. Let's say Alice calls the lock function of the CrossLock contract on Ethereum. 2. It will lock Token A in the contract, and then issue a Lock event. BoringDAO runs node1, and the team of Token A runs node2. These two nodes will monitor the Lock event of the Ethereum CrossLock contract. 3. The Bridge in the figure is a smart contract located on the BSC network. Once the Lock event is monitored, the crossMint function of the Bridge contract will be called respectively. Only the Crosser role can call crossMint because it uses openzeppelin's AcessControl for role assignment. 4. Roles will be assigned to node1 and node2 and when they call crossMint, they are actually voting on this cross-chain transaction. Only when both agreed, it can pass. 5. When the vote is passed, the bridge contract will call the mint function of the BSC Token A contract. The Token A team has to deploy the Token A contract on BSC in advance so that allows the Bridge contract to perform mint and burn operations on it. 6. If the mint function of the BSC Token A contract is called successfully, Token A will be sent to the BSC address of Alice. ### Example B: BSC to ETH ![BSC to ETH](/files/-MW7JR_tvV5YnXuyaxXC) 1. Alice calls the crossBurn function of the Bridge contract 2. The Bridge contract calls the burn function of the BSC Token A contract to burn Alice's token. 3. The Bridge contract issues a CrossBurn event. 4. Node1 and node2 are runned and controlled by the BoringDAO and Token A team respectively, and they will monitor the CrossBurn event. When both nodes listen to the CrossBurn event, they will each call the unlock function of the CrossLock contract on Ethereum. 5. Only node1 and node2 can call the unlock function and their permission will be checked in the function. When the unlock function is called, both nodes will vote on this cross-chain transaction and it will only be passed when they both agree. 6. Once the vote is passed, Token A, originally locked in the contract, will be unlocked and transferred to Alice. ### What partners need to do? Submit your request here and get your token added to the bridge → ### Cross-chain fees? There will be cost associated with running Smart Bridge Node and calling related contracts, hence the charge for the Native Bridge will be determined by both BoringDAO and the partner team. Learn more about Native Bridge * [oPortal FAQs (for users)](/smart-bridge/oportal-faqs-for-users) * [oPortal FAQs (for devs)](/smart-bridge/oportal-faqs-for-devs) # oPortal USDT LP Token Contract oPortal USDT LP Token Contract OP: 0x68d97b7a961a5239b9f911da8deb57f6ef6e5e28 Arbitrum: 0xe4af65953eeb4b868b7b7ff33808e22069b09916 Boba: 0xC8819c553Ff1781E017897800d75d82539A79aA2 Ethereum: 0xfd16ea1d1a5531b1829200f64e8c18f8e9364477 Binance Smart Chain: 0x37e6812C17252534B8b30c8b05Fb677C4a94C397 Polygon (oPortal Bridge): 0xed6701d701841401b446f23757caa422d81691b0 OKExChain: 0x232c6b4e2e0833b1e6e07c9a37898203e7dd7b24 Avalanche: 0x216f332D17145871D1d5ff5fEB4b08513Ef7Cc21 Harmony: 0xb238a595e9797e009efd5f938c9918181662066c Fantom: 0xe4af65953eeb4b868b7b7ff33808e22069b09916 xDAI: 0xE9fE1cEFeD8492ccE0A72bC01C46002791644784 HECO: 0xe9fe1cefed8492cce0a72bc01c46002791644784 # oPortal FAQs (for users) **What features will oPortal provide?** oPortal is a platform, developed by BoringDAO, for users to instantly transfer tokens across various blockchain networks. It serves as a cross-chain bridge that allows users to obtain access to the various blockchains that support the cryptocurrency that they are holding, thereby enabling the use of their digital assets in the Defi world. **What is a Two-Way Bridge?** The oPortal Two-Way Bridge allows users to move their assets between different chains directly rather than moving between chains through CEXs. Currently, our oPortal USDT bridge (Beta version) is live and users can transfer their Tether (USDT) among 15 blockchains, including Ethereum, BSC, Polygon, Avalanche, Fantom, Harmony, xDai, OEC, HECO, Optimistic, Arbitrum, Boba, Metis, Aurora, and KCC. We are continuously expanding our partnership with many other L1s and L2s. More USD-pegged tokens, BTC-pegged tokens and oToken assets will be added to the list in the near future. **Why do we need the oPortal Two-way Bridge？** More single-chain tokens will become multi-chain tokens such as $USDT, $USDC, and $ETH. The market needs a fast, easy and most importantly, safe, cross-chain protocol to support the prosperity of a multi-chain universe. **What is the cross-chain fee for oPortal Two-way Bridge?** The cross-chain fee includes: 1. **Network fee**: 2 $USDT / 2 $USDC / 0.0006 $ETH 2. **Transaction fee** with a floating rate depending on the liquidity of the destination chain. In most cases, for a destination chain with sufficient liquidity (> 500K USD), you will be charged with a 0.05% fee! (Doesn’t it feel like it costs nothing?) Sometimes, if the destination chain has a liquidity of > 100K USD but < 500K USD, a 0.3% fee will be charged. However, if the destination chain has a severely low liquidity (< 100K USD), usually not the case, then you will be charged with a 1% fee. Currently, there is a 50% fee discount for all cross-chain transactions to KCC via oPortal two-way bridge in the first month. And bridge to Metis is for free now (zero transaction fee). All transaction fees we collect will either be given to the LPs or used to burn $BORING tokens. **Is it safe to transfer assets through the oPortal bridge?** Yes! Powered by Nash Equilibrium Lock (NEL), oPortal is secure and fully open-sourced with all code currently being audited. **What is a Native Bridge?** With the oPortal Native Bridge, BORING tokens can be transferred to any chain that BoringDAO supports. BoringDAO is open and willing to cooperate with any project developers. BoringDAO will design an optimised bridge for each token, allowing them to transfer between different blockchains in the safest and fastest way. **What is the cross-chain fee for oPortal Native Bridge?** For each transfer, oPortal Native Bridge charges a 0.5% cross-chain transaction fee and 100% of the fees collected will be rewarded to liquidity providers (LP). **How long does it take to transfer assets across chains?** This depends on how big the transaction is. For most cases, it will usually take 2-10 minutes. One hour is quite possible though when the network is in congestion. For large asset exchanges it may take up to 24 hours to bridge. This depends upon the network traffic of the target blockchain. **How can I track the bridging process?** The transaction status can be tracked on the oPortal bridge page. No need to panic when you make cross-chain transfers. Also there's a History page which tracks all the transaction history. You can also use the respective blockchain explorers to track all your transactions. **Why is there a high risk of using the "official bridge" provided by CEX?** It is highly risky for a decentralized project to use the bridge provided by the CEX, because the right to mint and burn tokens is in hands of the CEX. The downsides to centralized exchanges include the downsides to any centralized service that requires trust. If BoringDAO and the project team 2/2 jointly run the smart contract of the oPortal Bridge, it will prevent malicious third party participants. **How to participate in the oPortal farms?** 5 simple steps: 1\. pick a chain and deposit **$**USDT/$USDC/$ETH to your wallet; 2\. add liquidity into the pool ; 3\. choose a farm according to the chain from the list ; 4\. unlock your wallet, approve the contract, and then stake; 5\. you’re all set! Starting now, you’ll be getting $BORING tokens as rewards **What can I earn as a liquidity provider?** In total, earnings for LPs will consist of a 100% share of bridge fee charged for every transaction plus the $BORING token rewards from the farms. You can become a liquidity provider and your supplied liquidity may be used by other cross-chain users. In return, you will receive oToken on the relay chain (Polygon), and you can farm on oPortal with stable daily APRs. The rewards include $BORING reward plus up to 35% of the transaction fees generated, which means the more users cross chains every day, the more rewards you can get. This is not the only way you can earn! Now we are providing ***EXTRA BONUS*** under certain conditions. If you add liquidity to chains with less than 100,000 $USDT/$USDC or 25 $ETH, we will offer a 0.5% extra bonus straight away. For chains with less than 500,000 $USDT/$USDC or 250 $ETH in liquidity, you will receive a 0.15% extra bonus instantly. There is a **bonus calculator** on the “Add Liquidity” page which lists out the estimated bonus reward for every chain upon current liquidity condition. So after you choose the specific asset you want to add, liquidity and estimated bonus will be shown for each chain individually on the bottom of the page. **How to remove liquidity?** In the 2.0 version of the oPortal, you can pick your destination chain when removing liquidity, and a transaction fee will be charged based on the liquidity condition of the destination chain **(high liquidity - 0.05%, medium liquidity - 0.3%, low liquidity - 1%).** We will notify you of the relatively high cost when you try to withdraw to a chain with low liquidity. # oPortal FAQs (for devs) **1. What cross-chain technology does the oPortal use?** Powered by Nash Equilibrium Lock (NEL), oPortal is secure and fully open-sourced with all code currently being audited. It has been operating without a single accident for over 13 months. For more details, please visit **2. Can oPortal still support our token if it has already been listed on multiple chains?** Sure. We can create separate pools for your token, but your team would have to provide some liquidity. **3. What if my token hasn’t been listed on multiple chains? Do we still need to provide liquidity?** No, you don’t have to. Your token will obtain unlimited liquidity on all chains that BoringDAO supports. **4. Which chains does the oPortal support now?** Currently there are 12 connected chains, including L1s - Ethereum, BSC, Polygon, Avalanche, Fantom, Harmony, Xdai, HECO, OEC, and L2s - Optimistic, Arbitrum, and Boba. **5. Who will run validator nodes?** It’s totally up to you. You can run by yourself or you can let BoringDAO help you run it if you don’t have enough time. **6. What’s the transaction cost?** Base fee + 0.5% The base fee depends on the network traffic, usually about 30 to 80 US dollars for ETH, 0.8 to 5 US dollars for other L1s, and 5-10 US dollars for L2s. **7. Can we adjust the fee rate?** Yes. But we suggest to set it at 0.5%, and most of our project partners choose this rate. **8. Who does the cross-chain earnings belong to?** If BoringDAO runs validator nodes for you, 60% of the earnings belong to you and 40% will go to BoringDAO’s treasury (all $BORING holders), after deducting the maintenance cost for each node. If you run validator nodes yourself, you will cover the maintenance fee. BoringDAO will take out 40% of the earnings and hand it over to the treasury. **9. How often can we receive the dividend distribution?** To save the gas fees, we usually do it quarterly. **10. Who will control the minting process for our token?** If your token is only listed on one chain, you will be responsible for minting tokens on that chain and the oPortal smart contract will cover the remaining chains. Of course, you can also control the minting process for all chains if you want. If your token is listed on multiple chains, then you will control the minting process for your token on all chains. **11. What are the competitive advantages for the BoringDAO oPortal bridge?** Secure. BoringDAO always puts security in the first place. Flexible. No matter which EVM chains or how many chains your tokens are listed on, we can support your transfers. Permissionless. We invite you to become the validators, and this is the safest way. There is no other cross-chain bridge service provider that would allow outside developers to share the functional income distribution like this. We seek cooperation to promote the prosperity of the DeFi ecosystem. # How does oToken Tunnel work? There will be an exclusive minting tunnel for each blockchain asset, operating in the form of DAO and bridging between non-ERC20 assets and pegged tokens on any smart contract-enabled blockchains. It will serve as a Layer-2 solution for BTC and other non-smart contract blockchains, making assets like BTC and LTC programmable. Any community users can open a new tunnel freely through pledging $BORING, but each tunnel can only support one blockchain asset. For example, Alice wants to wrap BTC into oBTC on Ethereum network, but the BoringDAO system has yet to create a channel for BTC. Then, Alice can stake a certain amount of $BORING and create a BTC-oBTC wrapping tunnel. However, the tunnel will only be activated until enough deposits has been pledged to meet the requirement for a tunnel activation. Once activated, Alice’s portion of the pledge will go directly to the pledge pool. BoringDAO oToken Tunnel has three notable features (let’s take BTC as an example): 1. Triple Security Mechanism — BTC mortgages + contract layer mortgages + multiple insurance mechanisms. 2. Decentralized — With an advanced coin-minting mechanism, oBTC minting is much faster than other BTC pegged assets. 3. High Incentives — High APYs for BoringFarm pool and the Curve pool. #### Mint - Make BTC Programmable * Transfer BTC into the multi-signature wallet * Get oBTC rewards #### Pledge - Create a trustless environment for both BTC and oBTC * Pledge $BORING token to increase Tunnel capacity * Get your Pledge Provider token (PP token) * Farm with "PP token", earn more $BORING reward #### Pledging Coefficient & Commission Rate of “the Tunnel” There are two important parameters in the creation of a Tunnel: pledging coefficient (k) and commission rate (m, n). In version 1, the pledge coefficient k of the tunnel is kept at 50-100%, while the commission rate for minting as well as redemption are both set at 0.2%, and the minting section requires extra network fees. In version 2, however, we aim to let tunnel operators decide on the pledging coefficient and commission rate. The pledge coefficient is abstract, and it is only used as a system parameter. Usually, BoringDAO tunnel uses Asset Ratio to describe oToken. For example, when pledge coefficient is 50%, it means that each oBTC is backed by 1 BTC + 0.5 BTC equivalent of ERC-20 assets, and the oBTC Asset Ratio should be 150% (100%+50%). #### Tunnel Settlement In both V1 and V2 stages, the corresponding minting tunnel will be frozen immediately for settlement if a loss occurs to a certain asset under custody. The asset custodian will confirm the remaining assets in the multi-signature wallet and match them with the assets issued on the blockchain to calculate the amount to be settled. Then, the tunnel pledge will be settled accordingly. After clearing, the multi-signature wallet will be replenished with assets, and then the minting will be available again. In the V3 stage, dynamic clearing will be implemented. #### Tunnel Creation Users have to pledge at least 500 $BOR for the initial creation of oToken tunnel. Only if 3,000 $BOR is pledged within 48 hours after the initial creation, the tunnel will be activated. The reason why $BORING pledging is required for proposals is to avoid a large number of meaningless proposals; Pre-pledged $BORING will be transferred to the actual pledge of the tunnel as soon as the proposal is passed, allowing the tunnel to have the initial pledge amount and minting capacity. #### Insurance 50% of the redemption commission in the tunnel will be saved into the insurance pool. The insurance pool is completely governed and controlled by the community. Only when the community proposal is passed, the insurance amount locked in the contract will be used for claim settlement, usually applied to Black Swan cases in the system. #### Triple layer security mechanism: * Asset layer (PS2H multi-signature + OP\_Return) * Contract layer (over 100% reserve) * Application layer (decentralized insurance such as Nsure and Cover) ![](/files/-MT5BdeiM606OWYm35Dw) These security mechanisms allow digital assets to be transferred to other blockchains in a truly secure, decentralized, and trustless way. The first oToken, oBTC, has already been integrated into many mainstream Ethereum-based DeFi protocols such as Curve, SushiSwap, Alpha Finance, etc. Meanwhile, Mint Mining and Boring Farms work as a double incentive mechanism to further reward users who participate in the ecosystem. With the “Tunnel Mechanism” and “Triple Pledging” features, BoringDAO enables BTC, LTC and other blockchain assets to be utilized on Ethereum and other blockchain networks. #### Why do we use OP-Return solution? ![](/files/-MT5BhiWi3y4qBpm6WOt) Other BTC-pegged coins usually use a centralised server, which generates a new BTC address for minters, then their system can detect transactions sender’ btc address, just like CEX. However, using centralised services is dangerous. There will be a single point of risk of being attacked by hackers or other third parties. Instead of using a centralised server like some other BTC-pegged coins, BoringDAO uses OP-return (native function of Bitcoin) to bind minter's BTC address and ETH address. Minters just need fill in their ETH address on BTC's OP-Return zone, then BTC multi-signature nodes can determine which ETH address they will send oBTC to, making Bitcoin Network as our server. Hence it avoids the risk, exposed to the centralized solutions, of being hacked by malicious third parties. oTunnel will operate safely as long as Bitcoin & Ethereum networks are not down. # $oBTC Contract **oBTC ERC-20 Token Contract** 0x8064d9Ae6cDf087b1bcd5BDf3531bD5d8C537a68 [https://etherscan.io/token/0x3c9d6c1C73b31c837832c72E04D3152f051fc1A9](https://etherscan.io/token/0x8064d9Ae6cDf087b1bcd5BDf3531bD5d8C537a68) **oBTC BEP-20 Token Contract** 0x0314fc7180dD2A4370A4039ccf11f2C1a4a9C33B [https://bscscan.com/token/0x92d7756c60dcfd4c689290e8a9f4d263b3b32241](https://bscscan.com/token/0x0314fc7180dD2A4370A4039ccf11f2C1a4a9C33B) # How does Satellite City work? Satellite City has launched ETH/USDT/USDC/DAI pools to provide greater capacity for oBTC Tunnel. These assets will be used as collaterals of the oBTC Tunnel and will be calculated in the Asset Ratio. Please note that there is no impermanent loss of assets in Satellite City, nor will they become PP Tokens. If the Asset Ratio is less than the specified amount (150% so far), assets will not be liquidated but minting will be paused. However, if a black swan incident occurs (eg. loss of the underlying BTC), compensation will be provided by the decentralized insurance protocols (Nsure, COVER, etc.) first, followed by Satellite City assets and BOR in the tunnel. In return for extremely rare cases, those who stake assets in Satellite City can receive a long-term reward of BOR yield-farming. # 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. 🦾**Utility** 【Pledge】 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. 【Mint mining】 Users will earn $BORING rewards, which are equivalent to 0.4% of the minting value. 【Burning fee】 Users will be charged a 0.2% fee when burning oBTC to redeem BTC. 【Yield-farming】 BoringDAO has partnered with SushiSwap, PancakeSwap and etc., which allow users to stake $BORING and earn yield-farming rewards. 【Initiation and activation of new tunnel】 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. 🦿**Governance** 【BoringDAO Improvement Proposal (BIP)】 Anyone who hodl $BORING can initiate a proposal on the forum → [Boring Forum](/boring-forum). And other hodlers can vote on the proposal here →[Snapshot](/snapshot). 【DAO insurance】 Insurance related decisions will be made by the community and users can share their thoughts and vote accordingly. 【Adjustment about system parameters】 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. # $BORING Distribution $BORING Maximum Supply: 2,000,000,000 (fixed) * 30% for Mint Mining: $BORING is mined with native crypto asset minting fee and rewarded to those who participate in minting. * 30% for Boring Farm: $BORING is generated with Ethereum blocks and rewarded to those who participate in oToken & BOR liquidity & pledge farming. * 19% for infrastructure: 1% for initial $BORING liquidity; 3% for initial BTC Tunnel pledge; 15% reserved; * 11% for early contributors: 10% for private round; 1% for public round. * 10% for core developers: linear daily unlocking in 24 months ![$BOR Token Distribution](/files/-MWiscXxoXMhRYFeRtOv) # $BORING Emission \~300,000 $BORING per day (updated 7 Oct, 2021) **Ethereum** (Pool weights point): 1 oBTC-PPT-BORING: 1100 (25.58%) 2 oBTC: 1200 (27.91%) 3 WETH: 125 (2.91%) 4 USDT: 45 (1.05%) 5 USDC: 45 (1.05%) 6 DAI: 45 (1.05%) 7 oLTC-PPT-BORING: 300 (6.98%) 8 oLTC: 560 (13.02%) 9 oDOGE-PPT-BORING: 100 (2.33%) 10 oDOGE: 170 (3.95%) 11 BORING: 260 (6.05%) 12 oPortal: 350 (8.14%) Totals 4300 (100.00%) See BIP-12： # Snapshot BoringDAO Snapshot: Voting Weight for Proposals: Voting Weight = BORING token balance x 50% + (total pledged BORING balance in oBTC, oLTC, and oDoge Tunnels + Tunnel unlocked BORING balance + Tunnel locked BORING balance + total staked BORING balance in Farms + dTokens issued by Sunder Protocol) x 100% Read more details about Voting Weight \[BIP12] # Boring Forum Welcom to join the Boring Forum :) # How to move your $BORING from ETH to other chains 1. Go to BoringDAO website → , connect your wallet to ETH network, and click “oPortal” and then “Native Bridge"; 2. Fill the amount of $BORING you want transfer and your BSC/AVAX/Fantom/... address (most users use the same address on both ETH and other L1s); 3. Then you will receive $BORING on your destination chain in a few minutes, but sometimes it can take longer time due to significant changes in ETH GAS price market. # How to Split 1 $BOR into 10,000 $BORING? **【For Ethereum】** 1\. If you have $BOR on Ethereum, you can go to , then connect your wallet. 2\. Click "MAX" → "Approve" → "Confirm" → Add $BORING to Metamask or Add $BORING manually (ERC-20 $BORING Contract: 0xBC19712FEB3a26080eBf6f2F7849b417FdD792CA) **【For BSC】** 1\. If you have $BOR on Ethereum, you can go to , then connect wallet. 2\. Click "MAX" → "Approve" → "Confirm" → Add $BORING to Metamask or Add $BORING manually (BEP-20 $BORING Contract: 0xffEecbf8D7267757c2dc3d13D730E97E15BfdF7F) **【For Polygon】** 1\. Transfer your $BOR back to Ethereum. 2\. Then split your $BOR on Ethereum following steps above. 【Other FAQs】 Link → # How to use oPortal to transfer stablecoins to other chains？ Here is an example of the oPortal Two-Way Bridge: ![Two-Way Bridge on Ethereum](/files/6SgP1fUTPcV5PGLjQZCl) 1. Pick the original (From) and the destination (To) chains; 2. Select the asset you would like to transfer; 3. Enter the cross-chain amount; 4. Click "Approve" → "Confirm"; 5. Then you will receive your assets on the destination chain in 5-10 minutes. You can track the transaction status on the pop-up notice shown to the right top of the page.
Cross-chain Transaction Status
Transaction fees and total liquidity for the destination chain will be displayed at the bottom. Please note that the cross-chain transaction fees include: 1. **Network fee: 2.00 USDT** Network fee covers the gas cost for your cross-chain transfer. 1. **Transaction fee rate: 0.05%/0.3%/1%** Transaction fee rate fluctuates with the remaining liquidity on the destination chain, if ≥ 500K USDT, fee rate is 0.05%; ≥ 100K USDT, fee rate is 0.3%;< 100K USDT, fee rate is 1%. # How to provide liquidity for oPortal？ 1\. Click "Add liquidity" on oPortal → Make sure you have connected to the chain that you want to deposit assets from. ![Add Liquidity Dashboard](/files/w5dygs7kjXWCjhYI1jhr) 2\. Select the asset you want to deposit; 3\. Enter the amount of liquidity you would like to supply; ![Add Liquidity](/files/LeROf6Isbil2jDiaV0Q5) 4\. Click "Approve" → "Confirm"; 5\. Once you successfully provided the liquidity, you will receive oToken on the Relay Chain (Polygon) and you can choose to "Add", "Remove", or "Farm" on the Dashboard. Please note that **Extra Bonus** is available when depositing to chains with less than 500K USD remaining liquidity. For chains with less than 100K USDT in liquidity, we will offer a **0.5% extra bonus**; for chains with less than 500K USD in liquidity, we will offer a **0.15% extra bonus**. ![Bonus Calculator](/files/wlpDzpD0i13rjDR7rxqv) The “Add Liquidity” page displays a bonus calculator to show you the estimated bonus rewards for every single chain upon current liquidity condition. So after you choose the specific asset you want to add, liquidity and estimated bonus will be shown for each chain individually on the bottom of the page. Read more → When removing liquidity, a transaction fee will be charged based on the liquidity condition of the destination chain **(high liquidity - 0.05%, medium liquidity - 0.3%, low liquidity - 1%).** #### **How does oPortal provide yield farm without Impermanent Loss?** 1\. How does oPortal generate income for liquidity providers? The bridge charges a certain amount of the cross-chain amount for each transaction, depending on the remaining liquidity on the destination chain. All revenues generated will go directly to the treasury, 50% of which will be used as rewards for the oToken pool, and the rest will be used to burn $BORING. 2\. There is no Impermanent loss for liquidity providers as there is no AMM involved. Only one kind of asset will be in the pool, such as $USDT. # How to convert $BORING to $eBORING to earn more APY? Here is the tutorial: # (BORING, BORING) FAQs **Why (BORING, BORING) pool in the first place?** The success of OlympusDAO has enlightened us on the new ways to increase liquidity for the project. To celebrate BoringDAO’s first anniversary and in the true spirit of (3, 3), we are launching a new prize pool - (BORING, BORING) this week. **What is the deal with (3,3)?** (3,3) is the idea that, if everyone cooperated together, it would generate the greatest gain for everyone (from a game theory standpoint). Currently, there are three actions a user can take: Staking (+2) Bonding (+1) Selling (-2) Staking and bonding are considered beneficial to the protocol, while selling is considered detrimental. Staking and selling will also cause a price move, while bonding does not (we consider buying tokens from the market as a prerequisite of staking, thus causing a price move). If both actions are beneficial, the actor who moves price also gets half of the benefit (+1). If both actions are contradictory, the bad actor who moves price gets half of the benefit (+1), while the good actor who moves price gets half of the downside (-1). If both actions are detrimental, which implies both actors are selling, they both get half of the downside (-1). Thus, given two actors, all scenarios of what they could do and the effect on the protocol are shown here: If we both stake (3, 3), it is the best thing for both of us and the protocol (3 + 3 = 6).If one of us stakes and the other one bonds, it is also great because staking takes tokens off the market and put it into the protocol, while bonding provides liquidity for the treasury (3 + 1 = 4). When one of us sells, it diminishes the effort of the other one who stakes or bonds (1 - 1 = 0). When we both sell, it creates the worst outcome for both of us and the protocol (-3 - 3 = -6). Note: the above explanation is an excerpt from **How to participate？** (BORING, BORING) is a single stake pool, which means that you can stake $BORING and earn $BORING with no impermanent loss on both ETH and BSC. **Is there anything special about the (BORING, BORING) pool?** Withdrawal of $BORING from the (BORING, BORING) pool will be locked for 72 hours (3 days) on ETH, 120 hours (5 days) on BSC. **What is Bond?** The bonding mechanism allows BoringDao to acquire its own liquidity and other reserve assets by selling $BORING at a discount in exchange for these assets. On the other hand, token holders can purchase $BORING bonds by BORING-ETH Uni LP tokens and BORING-BNB Cake LP tokens. **How to provide liquidity for $BORING on Uniswap/Pancake Swap?** Uniswap: select BORING-ETH pair and deposit $BORING and $ETH to add liquidity, and then you will receive BORING-ETH Uni LP tokens Pancake Swap: input $BORING and $BNB to add liquidity and then you will receive BORING-BNB Cake LP tokens **Is there anything special about the bond?** We offer 7-day/14-day/28-day bonds with 5%/10%/20% ROI respectively. For example, you can provide BORING + ETH liquidity in Uniswap V2 to get LP tokens, and then you can use 100 USD LP to buy 105 USD equivalent of $BORING, but it will take 7 days to redeem it. **When can you claim the bond?** At the end of the vesting term, 7 days/14 days/28 days, the full amount of BORING-ETH Uni LP tokens and BORING-BNB Cake LP tokens will be claimable. **Is $BORING an algorithmic stablecoin?** No, BoringDAO is a project that deploys decentralized bridges or tunnels between blockchains and $BORING is the governance token. The primary purpose for launching the (BORING, BORING) pool is to provide more liquidity. **Any risks for the (BORING, BORING) pool?** There is no impermanent loss and no liquidation, but your liquidity will be locked for at least 120 hours (5 days). **Any rebase?** No. **Where are the LP tokens after you spend it to purchase bonds?** The LP tokens will be locked in the treasury, so there is no way to move those liquidity. **Why can't I unblock my address to see the (BORING, BORING) pool?** Only boring people can see it! So you need to complete the ritual to see the page: post "Only the true boringman can see through the mystery of (BORING, BORING)." on your Twitter, @TheBoringDAO, and leave your most boring address 0x… Next, your address will enter the whitelist. **Why can't I take out yield from the (BORING, BORING) pools?** Because the (BORING, BORING) pool will auto-compound for you. When you stake $BORING, you will receive $sBORING as a voucher in return. **What is $sBORING?** You can regard sBORING tokens as LP tokens and they represent your share of the (3,3) pool. This is a little bit different from how sOHM works. sOHM is backed by OHM tokens in a 1:1 ratio, and the rebase mechanism guarantees that 1 staked OHM is always redeemable for 1 OHM. While for sBORING, each sBORING token can redeem more than one BORING tokens over time given the power of compounding. # App Website Ethereum Mainnet Binance Smart Chain Mainnet Polygon（Matic） # Social #### Twitter #### Telegram {% embed url="" %} #### Discord {% embed url="" %} **Medium** {% embed url="" %} #### Github {% embed url="" %} # Code Audit Reports
Certik-BoringDAO-2022-02-18https://drive.google.com/file/d/15U9L9OVMgiw0Ti8tRY-kh74o_qYh2_z9/view?usp=sharing
Certik-BoringDAO-2021-09-24https://drive.google.com/file/d/1epeKsAzLm3Fp2lQvHQ_gICLjFfW4WoVF/view?usp=sharing
Certik-BoringDAO-2021-05-29https://drive.google.com/file/d/1OOi2L3OHygFJXC-FM9uXNH9LjKHAZAH7/view?usp=sharing
PeckShield-BoringDAO-2021-03-07https://drive.google.com/file/d/1_D-aHEn5-eUUDU4uKlK2FC5LXUuv5QkO/view?usp=sharing
PeckShield-BoringDAO-2020-12-03https://drive.google.com/file/d/1ZtKp463HM0BlxdupFl3e6sw4TUdqMObT/view?usp=sharing
# Contract Addresses Addresses for all relevant contracts. # $BORING Token Contract $BORING token is new governance token of BoringDAO **Ethereum:** $BORING ERC-20 Token Contract 0xBC19712FEB3a26080eBf6f2F7849b417FdD792CA **Binance Smart Chain:** $BORING BEP-20 Token Contract 0xffEecbf8D7267757c2dc3d13D730E97E15BfdF7F **Polygon (Polygon PoS Bridge):** $BORING ERC-20 Token Contract 0xff88434e29d1e2333ad6baa08d358b436196da6b **Polygon (oPortal Bridge):** $BORING ERC-20 Token Contract 0x50d0799ba241e10a6e9bace2936129f117cb32af **Metis:** $BORING ERC-20 Token Contract 0x226D8BfB4da78Ddc5bd8Fd6C1532c58e88F9Fd34 **OKExChain:** $BORING KIP-20 Token Contract 0x5ce01aa1528a6a0c8edecc4cee909f0a24cf54de **Avalanche:** $BORING ERC-20 Token Contract 0x603f0d26DA2c245D892300A4c3c86b5AD95C96be **Harmony:** $BORING HRC20 Token Contract 0x017ff87ab312301ade54f7cf9cc5aea28c9de024 **Fantom:** $BORING ERC-20 Token Contract 0xb238a595e9797e009efd5f938c9918181662066c **xDAI:** $BORING ERC-20 Token Contract 0xfC7b937D53fbcFE0881c3a3D99c9736d5887A006 **HECO:** $BORING HRC20 Token Contract 0xfc7b937d53fbcfe0881c3a3d99c9736d5887a006 **Boba:** $BORING ERC20 Token Contract 0x017Ff87AB312301aDE54f7cf9Cc5AEA28C9De024 **OP:** $BORING ERC20 Token Contract 0xbE4A5438ad89311d8c67882175D0fFcC65Dc9C03 **Arbitrum:** $BORING ERC20 Token Contract 0xfC7b937D53fbcFE0881c3a3D99c9736d5887A006 **KCC:** $BORING KRC-20 Token Contract 0x5d78bf8f79a66e43f5932c1ae0b8fa6563f97f74 **Old BOR Token** Ethereum: $BOR ERC-20 Token Contract 0x3c9d6c1C73b31c837832c72E04D3152f051fc1A9 Binance Smart Chain: $BOR BEP-20 Token Contract 0x92d7756c60dcfd4c689290e8a9f4d263b3b32241 Polygon: $BOR Polygon(Matic)-PoS ERC-20 Token Contract 0x7d8c139d5bfbafdfd1d2d0284e7fc862babe4137 **Why there are $BOR and $BORING？** According to BIP-8, BORING will replace BOR as the new governance token. The migration ratio is 1:10000. **More details →** [**https://snapshot.org/#/boringvote.eth/proposal/QmQTHQiL8eSHSDgHZ9psFe6FgJ9HGvPqYseK3st7ZTEm8w**](https://snapshot.org/#/boringvote.eth/proposal/QmQTHQiL8eSHSDgHZ9psFe6FgJ9HGvPqYseK3st7ZTEm8w) **Check out on Coingecko & CMC** # $USDT Token Contract **Polygon:** $USDT: 0xc2132d05d31c914a87c6611c10748aeb04b58e8f $oUSDT: 0x413cfe1c41f98879365d665cacb7e79a60001fee **Ethereum:** $USDT: 0xdac17f958d2ee523a2206206994597c13d831ec7 **Binance Smart Chain:** $USDT: 0x55d398326f99059ff775485246999027b3197955 **OKExChain:** $USDT: 0x382bB369d343125BfB2117af9c149795C6C65C50 **Gnosis / xDAI:** $USDT: 0x4ECaBa5870353805a9F068101A40E0f32ed605C6 **HECO:** $USDT: 0xa71edc38d189767582c38a3145b5873052c3e47a **Fantom:** $USDT: 0x049d68029688eabf473097a2fc38ef61633a3c7a **Avalanche:** $USDT: 0xc7198437980c041c805A1EDcbA50c1Ce5db95118 **Harmony:** $USDT: 0x3c2b8be99c50593081eaa2a724f0b8285f5aba8f **Metis:** $USDT: 0xbB06DCA3AE6887fAbF931640f67cab3e3a16F4dC **Aurora:** $USDT: 0x4988a896b1227218e4A686fdE5EabdcAbd91571f **Boba:** $USDT: 0x5DE1677344D3Cb0D7D465c10b72A8f60699C062d **Arbitrum:** $USDT: 0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9 **Optimism:** $USDT: 0x94b008aa00579c1307b0ef2c499ad98a8ce58e58 **KCC:** $USDT: 0x0039f574eE5cC39bdD162E9A88e3EB1f111bAF48 **IoTeX:** $USDT: 0x6fbcdc1169b5130c59e72e51ed68a84841c98cd1 # $USDC Token Contract **Polygon:** $USDC: 0x2791bca1f2de4661ed88a30c99a7a9449aa84174 $oUSDC: 0x8de93f998b6b0dda780ee12b97dde1f2fadd3b1d **Ethereum:** $USDC: 0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48 **Binance Smart Chain:** $USDC: 0x8ac76a51cc950d9822d68b83fe1ad97b32cd580d **OKExChain:** $USDC: 0xc946daf81b08146b1c7a8da2a851ddf2b3eaaf85 **Gnosis / xDAI:** $USDC: 0xDDAfbb505ad214D7b80b1f830fcCc89B60fb7A83 **HECO:** $USDC: 0x9362bbef4b8313a8aa9f0c9808b80577aa26b73b **Fantom:** $USDC: 0x04068da6c83afcfa0e13ba15a6696662335d5b75 **Avalanche:** $USDC: 0xa7d7079b0fead91f3e65f86e8915cb59c1a4c664 **Harmony:** $USDC: 0x985458e523db3d53125813ed68c274899e9dfab4 **Metis:** $USDC: 0xEA32A96608495e54156Ae48931A7c20f0dcc1a21 **Aurora:** $USDC: 0xB12BFcA5A55806AaF64E99521918A4bf0fC40802 **Boba:** $USDC: 0x66a2A913e447d6b4BF33EFbec43aAeF87890FBbc **Arbitrum:** $USDC: 0xff970a61a04b1ca14834a43f5de4533ebddb5cc8 **Optimism:** $USDC: 0x7f5c764cbc14f9669b88837ca1490cca17c31607 **KCC:** $USDC: 0x980a5AfEf3D17aD98635F6C5aebCBAedEd3c3430 **IoTeX:** $USDC: 0x3b2bf2b523f54c4e454f08aa286d03115aff326c # $ETH Token Contract **Polygon:** $ETH: 0x7ceB23fD6bC0adD59E62ac25578270cFf1b9f619 $oETH: 0x0caD6ef3383C4349c68f072076BCDE7B7623576B **Ethereum:** $ETH: 0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2 **Binance Smart Chain:** $ETH: 0x2170Ed0880ac9A755fd29B2688956BD959F933F8 **OKExChain:** $ETH: 0xEF71CA2EE68F45B9Ad6F72fbdb33d707b872315C **Gnosis / xDAI:** $ETH: 0x6A023CCd1ff6F2045C3309768eAd9E68F978f6e1 **HECO:** $ETH: 0x64FF637fB478863B7468bc97D30a5bF3A428a1fD **Fantom:** $ETH: 0x74b23882a30290451A17c44f4F05243b6b58C76d **Avalanche:** $ETH: 0x49D5c2BdFfac6CE2BFdB6640F4F80f226bc10bAB **Harmony:** $ETH: 0x6983d1e6def3690c4d616b13597a09e6193ea013 **Metis:** $ETH: 0x420000000000000000000000000000000000000A **Aurora:** $ETH: 0xC9BdeEd33CD01541e1eeD10f90519d2C06Fe3feB **Arbitrum:** $ETH: 0x82aF49447D8a07e3bd95BD0d56f35241523fBab1 **Optimism:** $ETH: 0x4200000000000000000000000000000000000006 **KCC:** $ETH: 0xf55aF137A98607F7ED2eFEfA4cd2DfE70E4253b1 # Other #### **$AAVE/$CRV** **Metis:** $CRV: 0x87DD4a7Ad23B95cD9fF9C26B5cF325905CaF8663 $AAVE: 0x68D97B7A961a5239B9F911DA8dEb57F6eF6e5e28 **Ethereum:** $AAVE: 0x7Fc66500c84A76Ad7e9c93437bFc5Ac33E2DDaE9 $CRV: 0xD533a949740bb3306d119CC777fa900bA034cd52 #### $AMY **Ethereum:** 0xb6225104d9434CC148570cDDEEf19B2e46dA350D **Arbitrum:** 0x8fbd420956fdd301f4493500fd0bcaaa80f2389c #### $IZI **Ethereum:** 0x9ad37205d608b8b219e6a2573f922094cec5c200 **Polygon:** 0x60d01ec2d5e98ac51c8b4cf84dfcce98d527c747 # Analyzing Tools {% embed url="" %} DeFi Pulse {% endembed %} {% embed url="" %} Dune Analytics {% endembed %} {% embed url="" %} Footprint {% endembed %}