What is BoringDAO (BORING)

1. Project Introduction
BoringDAO is a DAO-driven cross-chain service provider that offers solutions for every type of crypto asset. BoringDAO provides cost-effective token wrapping and asset transfer experiences. Core products include the oPortal Bridge, which enables users to securely and quickly transfer ERC-20 tokens across different blockchains, and oToken Tunnel, which provides a secure way to wrap Proof-of-Work (PoW) assets, including Bitcoin, Litecoin, and Dogecoin, to maximize their utility within the multi-chain ecosystem.
Summary: The goal of BoringDAO is to build decentralized asset “tunnels” between blockchains, providing opportunities for non-ERC20 assets to maximize their use and yield. The token bBTC (BoringBTC) will grant Bitcoin access to all different DeFi platforms, while the bBTC “tunnel” securely embeds BTC into bBTC through a dual-collateral mechanism.
2. Team & Investment Info
The project's team is anonymous.
Funding:
On October 8, 2020, BoringDAO announced the completion of a $1.45 million private round, with participation from DeFiance, Hashkey, SNZ, Youbi, Altonomy, Puzzle Ventures, SnapFingers, and BiLian Technology.
3. Social Media URLs
X: https://x.com/TheBoringDAO
Telegram: https://t.me/boringdao_official
Discord: https://discord.com/invite/zCQ2ddp
4. Token Info
Token Symbol: BORING
Total Supply: 2,000,000,000
Token Type: ERC-20
Issuance/Burn Mechanism: Fixed supply
Contract Address: https://etherscan.io/token/0xbc19712feb3a26080ebf6f2f7849b417fdd792ca
Token Distribution:
Minting Mining: 30%
Boring Farm: 30%
Infrastructure: 19%
Early Contributors: 11%, with 10% from private sale and 1% from public sale
Core Developers: 10%
5. Related Links
Official Website: https://www.boringdao.com/
White Paper: https://docs.boringdao.com/
Other Info:
https://www.rootdata.com/Projects/detail/BoringDAO?k=MTMwMg%3D%3D