Read the original proposal on Discourse

TL;DR

• Proposal to whitelist BOR
• Default co-investment limit (20k)
• A proposal by BoringDAO community, Contact us: info@boringdao.com

Bor token Contract address: 0x3c9d6c1c73b31c837832c72e04d3152f051fc1a9 Project Website: https://www.boringdao.com/

Voting Instructions

Vote FOR to whitelist BOR Vote AGAINST to deny whitelist status to BOR

Discussion

BoringDAO is a decentralized bridge that connects all blockchain assets, we offer users a safe way to maximize their utilization rate of crypto assets. Simply said, we allow users to bridge over their crypto assets onto the Ethereum ecosystem using a “wrapped” token method. Compared to other similar solutions in the market (wBTC, renBTC), our solution is significantly more permissionless, decentralised and thus safer to the user.

Features

1. Safe: Multi-signature and BOR Tunnels provide a double guarantee of assets.
2. Fast: oToken can be minted/redeemed within several minutes.
3. Permissionless: User friendly, anyone can freely use BoringDAO protocol.
4. One-click: Non-ERC20 token can be easily converted to oToken with just one click.
5. Decentralised: BoringDAO runs in a fully decentralized way.
6. DAO governance: The community members are the real controllers of BoringDAO.
7. Boring tunnel mechanism (“wrapped token mechanism”)
8. For each blockchain asset, there will be an exclusive minting tunnel operated in the form of DAO and performing bi-directional mapping between blockchain assets and tokens.

Each oToken (eg oBTC) is backed by 100%+ assets and thus very safe:

• Asset layer: 100% original crypto asset (eg. BTC)
• Contract Layer: 25% - 150% $ETH, $BOR, $DAI, etc. over collateral
• Application Layer: Insurance protocol ( Eg. Cover)

Tokenomics

BOR is the governance token & utility token of the BoringDAO ecosystem. BOR tokens are currently used (1) as collateral to secure the boring tunnel, and (2) as governance voting.

Total supply: 200,000 BOR. BOR tokens are designed to be fairly distributed to the community members over time (60% of supply) through Mint mining and BoringFarm.

Community and Communication

BoringDAO started in August 2020. Since launching, we have been very fortunate. Our community growth has been rapid and we very quickly found ourselves deeply entrenched in the DeFi community.

You can find our presence in every major DeFi vertical, such as money market, DEXs, asset management, insurance. We have recently expanded beyond Ethereum, having cross deployed our protocol in BSC, and OKex chain. Currently, BOR token is traded in CEXs such as Huobi and Gate.io.

The Boring community which is so called ⽆聊社区 are active on Telegram, WeChat, Weibo, Discord, and forum . The BoringDAO team is a distributed and community-based team with about 10 core team members, mainly based in Taipei, Beijing, Shanghai and Cambridge. We originate from BTC miners and various yield farming communities, and we trust Bitcoin and DeFi can change the world with no doubt.

TVL: USD 96m oBTC: 771 minted. oLTC: 23500 minted. Twitter: 6200 followers.

Available Audits

PeckShield has completed the BoringDAO smart contracts audit.

Market and Trading Data

BoringDAO’s price at the time of writing is $975.66. It’s all-time high was $975.66 (Mar 29, 2021), and its all-time low was $92.43 (Nov 16, 2020). There are 83,349 tokens in circulation, of a 200,000 maximum supply. The current market capitalization is $81,334,920. The BOR token is available on major exchanges, including Huobi Global, Gate.io and MXC. The 24-hour spot vol umes range from $2,672,537 (Huobi Global) to $36,628 (Gate.io).