BoringDAO update: BORING Live price, price chart, news and markets

The BORING price update as of now is $0.0002006. In the previous 24 hours, its trading volume was $4,064, and its value has decreased by -34.96%. As of now, BORING's live market cap is $358,167, and it is ranked as the #1780 on the Coincu. BORING has a circulating supply of 1,785,884,865 and a maximum supply of 1,785,884,865.

Introducing BoringDAO: Expanding the DeFi Market with Interoperability

In the realm of DeFi projects on Blockchains with smart contracts, certain assets like BTC, LTC, and DASH, which constitute a significant portion of the cryptocurrency market capitalization, often face limited interoperability. However, BoringDAO has emerged as a solution to this problem, unlocking new opportunities for the industry and allowing the DeFi market to extend beyond token assets. Serving as a decentralized bridge between Ethereum and other Blockchains, BoringDAO enables non-ERC20 Coins & Tokens to interact with the Ethereum Blockchain through wrapping.

Key Features of BoringDAO: Empowering Users with Mint Mining

Mint Mining: Rewarding Users for Non-ERC20 Wrapping

Mint Mining is a rewarding mechanism offered by BoringDAO, where users receive BOR tokens for wrapping their non-ERC20 assets into oToken (explained in the working mechanism section above). For instance, users can transfer Bitcoin to oBTC and earn BOR tokens as a reward.

Boring Farm: Farming BOR Tokens for Greater Rewards

Boring Farm is another key feature of BoringDAO that enables users to farm BOR tokens using oToken, BOR LP Token, oToken LP Token, and Tunnel Pledge Token. This mechanism will distribute 30% of the BOR tokens through Boring Farm.

DAO (Decentralized Autonomous Organization): Overseeing BoringDAO Operations

In BoringDAO, a DAO serves as the governing organization, allowing BOR token holders to access a dedicated management suite for overseeing the operations of BoringDAO.

Highlights of BoringDAO: Ensuring Security and Proportional Compensation

• BoringDAO includes reputable Nodes in the community as custodians, who are required to stake BOR tokens to ensure security and safeguard the bToken issued by Minted.
• The management of stored assets in BoringDAO is implemented through multi-signature technology, enhancing security.
• The minting process of BoringDAO's bToken requires excessive collateral (200%). In the event of a similar incident to the one in March 2020, BoringDAO can compensate holders proportionally.
• While the BoringDAO system is well-designed, an insurance fund managed and controlled by the community will receive 50% of the Redemption Commission, providing additional coverage.

Roadmap: The Future of BoringDAO

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