BoringDAO.Com Various Ethereum DeFi applications on Ethereum aim to solve only one problem: the increase in operationalefficiency of funds in the Ethereum ecosystem. Today, most of the heavily-traded DeFi assets, such as ETH,USDT, DAI, USDC, etc., are issued on Ethereum. However, in reality, Ethereum and Ethereum-based token assets only accounts for a small proportion of the total market value of all cryptocurrencies. This means that, a large number of well-received cryptocurrencies are incompatible with the current DeFi structure. For example, BTC, LTC are all left out of the “DeFi” world because they are not ERC-20 Tokens.
The live BoringDAO price today is $563.83 USD with a 24-hour trading volume of $6,499,088 USD. BoringDAO is up 5.50% in the last 24 hours. The current CoinMarketCap ranking is #527, with a live market cap of $46,100,719 USD. It has a circulating supply of 81,764 BOR coins and a max. supply of 200,000 BOR coins.The top exchanges for trading in BoringDAO are currently Huobi Global, Gate.io, Uniswap (V2), MXC.COM, and Bilaxy. You can find others listed on our crypto exchanges page.BoringDAO describes itself as a decentralized assets bridge to facilitate access across all blockchains.
BoringDAO.Com incompatibility makes these token-holders outsiders of the prosperous DeFi world, meaning that these non-ERC-20 token-holders cannot enjoy DeFi services, as well as the opportunities of liquidity mining and farming in DeFi. This seriously hinders the liquidity of crypto assets and causes unnecessary friction
BoringDAO.Com Multi-signature and BOR Tunnels provide a double guarantee of assets.
BoringDAO.Com Token can be minted/redeemed within several minutes.
BoringDAO.Com less User friendly, anyone can freely use Boring DAO protocol.
Non-ERC20 token can be easily converted to oToken with just one click.
BoringDAO.Com edBoringDAO is deployed on Ethereum and operates in a fully decentralized way.
BoringDAO.Com community members are the real controllers of BoringDAO.
BoringDAO.Com Balance decentralization, efficiency and safety to approach the “perfect” interoperability. BoringDAO Token is the asset minted by BoringDAO, abbreviated as oToken. The oToken follows the ERC20 Token standard which enables the wrapped assets to enter the Ethereum DeFi world.In this chapter, let’s take BTC as a typical example. The Token minted by Boring DAO is an ERC-20 token backed by BTC and thus is named “Boring BTC”, abbreviated as o BTC. The marketing prices of these oBTC reflect the values of Bitcoins backing them.
BoringDAO.Com Mint Mining is the mechanism which users can wrap their non-ERC20 tokens to oToken, e.g. Bitcoin to oBTC and get $BOR as rewards. 30% of $BOR will be distributed through Mint Mining. Minting The community is able to revise the minting commission, rewards distribution for minting commission, and the output reduction rate through a referendum.
BoringDAO.Com Boring Farm is the mechanism which users can use Token, $BOR LP Token, Token LP Token, and Tunnel Pledge Token to farm $BOR. 30% of $BOR will be distributed through Boring Farm. Boring Farm.The community can propose more Yield-Farming Pools through a referendum.
DAO Governance Boring
BoringDAO.Com DAO will govern in accordance with the DAO method. The governance authority of BOR will be unimaginably great. BOR holders are the dedicated controllers of BoringDAO. Without DAO governance, cross-chain assets can not be trusted.
BoringDAO.Com Custodians are from the community with a high reputation and more considerable tunnel pledge amount through the node-election as well as reputable institutions.
BoringDAO.Com community can propose new assets tunnels as long as the deposit requirements are met.
BoringDAO.Com BoringDAO’s insurance will be managed under DAO governance.
BoringDAO.Com community has the full control over the BoringDAO’s treasury.
BoringDAO.Com Real, distributed and community autonomous insurance. Although the Boring DAO system is well designed, it does not mean that it is foolproof. 50% of the redemption commission in the tunnel will be saved into the insurance pool. The insurance pool is wholly governed and controlled by the community. Only when the community proposal is met and the referendum is completed, the insurance amount locked in the contract will be used for claim settlement. Claim settlement is usually applied to deal with the Black Swan risk in the system. DAO insurance will provide the Boring DAO system with the third guarantee, allowing all assets to roam freely, safely, and without trust in the Ethereum network.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.