BOR replaces BORING according to the ratio of "1 BOR = 10000 BORING".
BoringDAO is a decentralized bridge connecting all blockchain assets, providing users with a secure way to maximize asset usage. BoringDAO achieves decentralization and secure access when conducting asset cross-chain transactions at the protocol layer, thus establishing communication between numerous blockchain assets and the DeFi world. In the future, BoringDAO aims to become the best bridge/channel for any digital asset across all blockchain ecosystems.

BOR is its use token and governance token, which can be obtained through "coin mining" and "boring farm", and is used to operate tunnels to obtain minting fees, payment and governance.

Project Introduction

BoringDAO is a completely decentralized asset bridge that operates as a DAO. It will allow any blockchain with smart contracts, such as Ethereum, to become a Layer 2 solution for Bitcoin, making assets such as BTC programmable characteristic. It uses the "tunnel mechanism" and three-tier pledge to enable BTC, LTC and other assets to seamlessly and safely enter other blockchain networks such as Ethereum, and use various DeFi applications without threshold.

BoringDAO has a triple security mechanism of asset layer (PS2H multi-signature + OP_Return), contract layer (over pledge) and insurance layer (application of Nsure, Cover and other decentralized insurance), which will allow BTC and other assets to be truly safe and decentralized It can be migrated to blockchains such as Ethereum in a simplified and trustless manner. Its first oToken asset, oBTC, has been integrated into multiple mainstream DeFi scenarios such as Curve, Sushiswap, and Alpha Finance. At the same time, BoringDAO accelerates the entire migration process through effective economic incentives such as coin mining and boring farms, as well as a decentralized self-organizing governance mechanism, allowing tens of billions of assets such as Bitcoin to seamlessly enter the DeFi world and realize Programmable features.