What is BoringDAO (BORING)?
BoringDAO is a cross-chain service provider for crypto assets driven by a Decentralized Autonomous Organization(DAO). It provides a decentralized and permissionless solution that ensures a safe, effective, and seamless experience for asset transfers and peg token wrapping.
The platform has different products that have been designed to achieve its aims. One such product is the BoringDao Bridge Aggregator. This product gives users a one-stop cross-chain bridging solution for safe transfers of crypto assets at a cost-effective fee rate. The aggregator supports more than 10 on-chain and off-chain bridges and decentralized exchanges(DEX). Besides, it has a router protocol that implements the use of multiple bridges in one transaction.
Another product in the BoringDAO ecosystem is the oPortal bridge. It allows the free transfer of assets between 14 layer-one and layer-two blockchains, in a fast and inexpensive manner. The supported blockchains include Ethereum, Polygon, BSC, Arbitrium, and more.
Finally, the project has the oToken tunnel feature. This feature presents users with a safe and secure way to wrap PoW-crypto assets such as Bitcoin, Litecoin, Dogecoin, and others.
The native utility token of the project is known as the BORING token. Initially, the token was known as BOR. However, it underwent a redenomination at the 1:10000 ratio.
Check out the current BORING price on the BoringDAO price chart featured above.
Use Cases of BORING Tokens
BORING is the governance and utility token of the Boring ecosystem. Besides, it's used for various activities and transactions.
For starters, BORING coin holders have the power to initiate and vote on proposals in the Boring forum. In addition to that, insurance-related decisions are made by the community through governance votes.
Moreover, BORING tokens are rewarded to network participants. As it stands, 15% of mint fees goes to the core developers, 15% to multi-signature signers, and 70% to tunnel operators. Tunnel operators pledge BORING crypto tokens to increase old token tunnel capacity and are responsible for the completion of the minting process.
You can also stake BORING tokens in the different staking options available. Some of the farms available for staking include Wild Wild West and Manifest Destiny farms.
Lastly, users who wish to be passive investors in the project can do so by providing liquidity. Liquidity providers earn up to 35% in cross-chain transaction fees and BORING tokens.
It is advised that you do a thorough analysis before investing in BORING crypto assets. One good place to start analyzing the current BoringDAO price and its recent changes is the aforementioned BORING price chart.
BORING Tokenomics
The project has a maximum supply of 2 billion BORING tokens. 30% of these tokens were dedicated to minters on the platform. Another 30% are kept as rewards to those who provide liquidity, take part in farming activities, and participate in staking. 10% has been allocated to core developers of the project, and 19% to the BoringDAO infrastructure. The remaining 11% were rewarded to early contributors.
These are the project's quantitative metrics of its official X account that can be used to trace regular or artificial Social activity & growth within the project.
Followers
21.67K
Followers: 21,674
0.13%
Following
3,832
0.03%
Posts count
1,598
0.00%
These are the project's quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.
Subscribers
-
Subreddit type
-
Moderators
-
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These are the project's quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.
Members
1.79K
Members: 1,798
0.44%
Title
BoringDAO Official Community
These are the project website's metrics based on Ahrefs Rank. They're used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project's website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic - is a metric of how many monthly users visit the project's website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.
Website Rating (DR)
46 / 100
2.08%
Ahrefs Rank
845,212
4.14%
Organic Traffic (mo.)
69
0.00%
These are the project's quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.
Public repos
8
Type
Organization
These are the project's quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project.
Stars
-
Watchers
-
Forks
-
Language
-
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BoringDAO hot topics
Currently, official BoringDAO Reddit account doesn't exist or wasn't submitted. 🔆 Submit Now
@TheBoringDAO posts