BoringDAO (BORING) price has declined today.
The price of BoringDAO (BORING) is $0.002733304563 today with a 24-hour trading volume of $185,798. This represents a -0.31450573031905726% price decline in the last 24 hours and a 2.225575407071154% price increase in the past 7 days. With a circulating supply of 1 Billion BORING, BoringDAO is valued at a market cap of $2,834,290.
What is BoringDAO?
BoringDAO is a decentralized bridge that connects all blockchain assets onto a single platform.
Non-ERC20 tokens can be converted into ERC20-compatible bTokens for usage on DeFi applications on Ethereum.
BoringDAO aims to bring a higher level of security through a double pledge mechanism as well as to provide more incentives for participating users.
What are BORING tokens?
Currently, BORING tokens are used to redeem the original assets used to mint the bTokens. Upon redemption of the original asset, a 0.2% redemption commission will be charged, and could only be paid using BORING tokens.
BORING can also be pledged to build a tunnel to support other crypto assets, where pledgers become partial owners of the tunnel to earn minting and burning fees.
How does BoringDAO work?
BoringDAO uses DAOs or “tunnels” to convert assets from other blockchains into the ERC-20 standard. The first tunnel would be made for Bitcoin, called oBTC. For each asset, an exclusive minting tunnel would be created in the form of a DAO, to allow for bi-directional conversion from the original asset into the ERC-20 version and vice versa.
To open a tunnel, users have to pledge at least 500 BORING tokens. Each blockchain asset can only have one existing tunnel. After a tunnel has been created, it will need to be activated by the BoringDAO community where tokens need to be pledged to meet the minimum deposit requirement for tunnel activation. The pledge requirement needs to be met within 48 hours after the initial tunnel creation.
If the activation requirement is met, the tunnel would go live after a tunnel-creation countdown. Once the tunnel is activated, the tunnel creator’s pledge portion will directly be included in the pledge pool.
To further increase the safety of users’ funds, 50% of the tunnel’s redemption commission is placed into a locked insurance pool. The pool is community-owned and can only be used for claims settlement once a community proposal has been met and the referendum is completed. To know more about the mechanics of BoringDAO, you may refer to their documentation or whitepaper.
How do I get BORING tokens?
You can obtain APY tokens by purchasing them from decentralized exchanges such as Sushiswap or Uniswap.
Additionally, there are two other ways of earning BORING - mint mining and using the Boring Farm.
Through mint mining, users who mint bTokens will have to pay a 0.2% commission fee, but they will receive 0.4% BORING rewards based on the minted amount.
On the other hand, the Boring Farm allows users to pledge the bTokens that they have minted in order to farm even more BORING tokens. Pledgers will receive a Pledge Provider (PP) token which can also be staked to get more BOR.
In general, bTokens, PP tokens and liquidity provider (LP) tokens for both bTokens and BORING can be used to generate yield in BORING. 30% of the total supply of BORING would be distributed through the Boring Farm.
Where can you buy BoringDAO?
BORING tokens can be traded on centralized crypto exchanges and decentralized exchanges. The most popular exchange to buy and trade BoringDAO is BingX, where the most active trading pair BORING/USDT has a trading volume of $130,340.71 in the last 24 hours. Other popular options include OKX and PancakeSwap (v2).
What is the daily trading volume of BoringDAO (BORING)?
The trading volume of BoringDAO (BORING) is $185,798.30 in the last 24 hours, representing a 6.98% increase from one day ago and signalling a recent rise in market activity.
What is the all-time high for BoringDAO (BORING)?
The highest price paid for BoringDAO (BORING) is $0.148861, which was recorded on Nov 23, 2021 (about 1 year). Comparatively, the current price is -98.2% lower than the all-time high price.
What is the all-time low for BoringDAO (BORING)?
The lowest price paid for BoringDAO (BORING) is $0.002212200493, which was recorded on Dec 30, 2022 (30 days). Comparatively, the current price is 23.7% higher than the all-time low price.
What is the market cap of BoringDAO (BORING)?
Market capitalization of BoringDAO (BORING) is $2,834,290 and is ranked #1443 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of BORING tokens (1 Billion tokens are tradable on the market today).
What is the fully diluted valuation of BoringDAO (BORING)?
The fully diluted valuation (FDV) of BoringDAO (BORING) is $5,466,609. This is a statistical representation of the maximum market cap, assuming the maximum number of 2 Billion BORING tokens are in circulation today. Depending on how the emission schedule of BORING tokens are designed, it might take multiple years before FDV is realized.
How does the price performance of BoringDAO compare against its peers?
With a price increase of 2.23% in the last 7 days, BoringDAO (BORING) is outperforming the global cryptocurrency market which is up 1.97%, while outperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 1.53%.
What is the market sentiment of BoringDAO today?
There are no votes on BoringDAO (BORING) today. Be the first to vote and share this with your community.
How to add BoringDAO (BORING) to MetaMask?
Adding BoringDAO (BORING) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import BORING as a token. You can copy BORING’s contract address (0xbc19712feb3a26080ebf6f2f7849b417fdd792ca) and import it manually, or add BORING to MetaMask with one click on CoinGecko.
Add BORING to MetaMask.
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