TeleportDAO (TST)

TeleportDAO is a trustless and universal bridge protocol that provides an infrastructure for developers to build cross-chain applications.

TeleportDAO Ecosystem Reward Program: https://coinlist.co/teleportdao-program

Seed funding: $2.5M

Whitepaper

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What is TeleportDAO

TeleportDAO is a trustless bridge that connects Bitcoin to EVM chains. It is a light-client bridge that moves data between chains and is live between Bitcoin and Polygon. This enables dApps on Polygon to access the data of the Bitcoin network. Two dApps have been built on top of the TeleportDAO bridge: TeleSwap and TeleOrdinal. TeleOrdinal is a pioneering, trustless marketplace for Ordinals (Bitcoin NFTs). It stands out as the first marketplace to enable Ordinals auction participation and stablecoin bidding, all powered by the TeleportDAO bridge.

• Innovative Auction System: TeleOrdinal introduces an auction feature, letting buyers place bids on Ordinals - a significant shift from the conventional buy-it-now approach.
• Stablecoin Payments: With TeleOrdinal, users can buy Ordinals using stablecoins, a landmark development since Ordinals have been traditionally bought only with Bitcoin.
• Trustless Transactions: Thanks to the TeleportDAO bridge, TeleOrdinal ensures a safe, non-custodial trading environment, eliminating the need for intermediaries.

TeleSwap is a trustless cross-chain liquidity protocol that enables bridging and trading BTC with the highest security and decentralization.

• Trustless Wrapping: Users can seamlessly wrap and unwrap their Bitcoin on Polygon. TeleBTC, a wrapped BTC on Polygon, can be easily converted back to Bitcoin. This feature is unique as it doesn't depend on centralized custodians; instead, it relies on trustless custodians who have financial incentives to operate transparently.
• Direct Swaps: TeleSwap supports direct exchanges between Bitcoin and any ERC-20 tokens without middlemen.
• User-Friendly Experience: With just a single transaction, users can cover all fees using the native token of their residing blockchain.