🚀 TeleportDAO: Bridging Bitcoin with EVM Chains 🌉
🚀 Let's dive into key features and potential of #TST in this captivating thread! 🧵👇
1️⃣ Introduction and Overview: TeleportDAO is a trust-minimized and secure interoperability protocol that bridges Bitcoin with EVM chains and Bitcoin Layer 2 solutions. It enables secure cross-chain applications, allowing EVM users to access Bitcoin assets like Bitcoin, BRC-20 tokens, RUNEs (Bitcoin tokens), and Ordinals (Bitcoin NFTs). Unlike many validator-based bridges, TeleportDAO uses light-client verification for efficiency and security. Notably, two dApps—TeleSwap and TeleOrdinal—demonstrate its functionality.
2️⃣ Technology and Features: TeleportDAO acts as a light-client bridge, connecting Bitcoin to EVM chains. It facilitates secure data transfer between blockchains, ensuring trustless communication. The protocol’s key features include seamless cross-chain compatibility, efficient light-client verification, and support for Bitcoin bridging.
3️⃣ Whitepaper Analysis: TeleportDAO’s whitepaper outlines its interoperability approach, emphasizing light-client verification. It details the role of TST in governance decisions and as collateral for Lockers. The whitepaper discusses the transition from native tokens to TST as sole collateral. It highlights TeleportDAO’s focus on secure cross-chain applications and provides insights into TeleSwap and TeleOrdinal dApps.
4️⃣ Use Case:
• Governance Decisions: TST holders influence TeleSwap and TeleOrdinal protocols, making decisions on fund allocation, proposals, chain support, and fees.
• Collateral for Lockers: Lockers use TST as collateral, enhancing protocol security. Eventually, only TST will be accepted as collateral.
5️⃣ Team and Leadership: TeleportDAO’s core team includes:
• Mahyar Daneshpajooh (Co-Founder): Leading the project.
• Ali Saheli (Co-Founder): Contributing to its vision.
• Arthur Yao XU (Investment Manager): Managing strategic partnerships.
6️⃣ Partnerships: TeleportDAO collaborates with various projects and networks to enhance cross-chain connectivity. It get funding from Quantstamp, Gatelabs, Coinlist and many more.
7️⃣ Security and Audits: TeleportDAO’s security relies on light-client verification, reducing attack vectors. It is Audited by Quantstamp.
8️⃣ Tokenomics:
• Total Supply: 1000 million TST (max supply).
• Circulating Supply: 180 million TST.
• Burned Tokens: 5.6 million TST.
• Pooled TST: 656,035.
• Tax Structure: 5% buy tax, 1.7% sell tax.
9️⃣ Exchanges: TeleportDAO is available on various exchanges, Users can trade it on platforms like Bybit, KuCoin, Gate.io, Bitget, Coinlist, PancakeSwap v2.
🔟 Conclusion: TeleportDAO continues to advance its interoperability goals, fostering cross-chain innovation. TeleportDAO plays a vital role in connecting Bitcoin and EVM chains, enabling a more interconnected crypto ecosystem.
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