BoringDAO (BOR)

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## Basics

*"At its core, BoringDAO is a fully decentralized multi-chain asset bridge driven by DAO. It has the capacity to connect digital assets across any smart-contract enabled blockchain platforms. In addition to bridging networks, BoringDAO offers staking services in a range of assets such as BTC, LTC and $BOR."*

## Token

### Token Allocation

* From their docs (3-2021):

*"Maximum Supply: 200,000 (fixed)*

1. *30% for Mint Mining: BOR is mined with native crypto asset minting fee and rewarded to those who participate in minting.*
2. *30% for Boring Farm: BOR is generated with Ethereum blocks and rewarded to those who participate in oToken & BOR liquidity & pledge farming.*
3. *19% for Infrastructure: 1% for initial BOR liquidity; 3% for initial BTC Tunnel pledge; 15% reserved;*
4. *11% for early contributors: 10% for private round(20%/24% without lock and 80%/76% linear daily unlocking in 12 months); 1% for public round without lock*
5. *10% for core developers: linear daily unlocking in 24 months"*

## Technology

* Whitepaper can be found here (2020).
* Code can be viewed here.

### How it works

#### Tunnels

* From their website (3-5-2021):

1. *"Operating by the DAO-based community*
2. *Freely creating new tunnels through pledging*
3. *70% minting fee is allocated to tunnel operators*
4. *The total value of pledged tokens is proportional to the maximum "wrapping" limit of each tunnel.*
5. *Each oToken is backed by 100%+ assets*
6. *Asset Layer: 100% original crypto assets*
7. *Contract Layer: 25% - 150% $ETH, $BOR, $DAI, etc. over collateral*
8. *Application Layer: Several decentralized insurances"*

* From their docs (3-2021):

*"In a simple overview, each oBTC is backed by 100% BTC and 25% ERC-20 tokens (such as BOR, ETH, DAI etc). At the same time, BoringDAO also use different insurances to protect those BTC, like COVER & Nsure.*

*The BTC layer is protected by P2SH multi-signature, and there are over-pledge on ETH layer (they will only be liquidated when BTC are lost in some black swan event). In other words, each oBTC has three layers of protection (multi-signature + over-pledge + insurance).*

*We also use OP-Return (a cool native function of Bitcoin) to help users connect their BTC & ETH address which means that we do not use any centralized server in the minting process of oBTC."*

### Liquidity Mining

#### Mint Mining

* From their website (3-5-2021):

*"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."*

#### Boring Farm

* From their website (3-5-2021):

*"Boring Farm is the mechanism which users can use oToken, $BOR LP Token, oToken LP Token, and Tunnel Pledge Token to farm $BOR. 30% of $BOR will be distributed through Boring Farm."*

### Interoperability

* Began building a multi-chain asset bridge for Avalanche (15-4-2021).
* From the Oasis blog (22-4-2021):

*"Through this collaboration ROSE will gain multi-chain support through BoringDAO’s multi-chain bridge, allowing ROSE to be easily transferred across networks like Ethereum, BSC, Avalanche, Polkadot and more.*

*BoringDAO plans to develop a native, two way “tunnel” with the Oasis and Bitcoin Network."*

## Audits

* Bug bounty program can be found [insert here].

## Team, Funding, Partnerships, etc.

### Team

* Full team can be found here (3-2021).
* Enki Yan; founder

### Funding

* 'Investment partners' that are mentioned on the website are (3-5-2021):

DeFiance Capital, Haskey, SNZ, Youbi Capital, Snap Fingers and others.

### Partners

* Mentioned (12-7-2021) as a partner on the website of DFI.Money (YFII)

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