TeleportDAO (TST)

TeleportDAO is a crypto asset bridge designed to connect Bitcoin and its Layer 2 scaling solutions with other EVM networks, including Ethereum, Arbitrum, Polygon, BCS, and Optimism.

The TeleportDAO bridge stands out with its unique validation model, which unlike the other validator-based crypto bridges, utilizes a Relay smart contract that validates transactions and relayers, which provide information to the Relay contract.

When users try to transfer their assets using the bridge, node runners deliver information to the Relay smart contract that validates whether the user hasn’t broken the rules and conditions of the source chain. This approach allows the Teleport DAO to avoid exploits related to node runners’ hacks, while maintaining the same level of decentralization as other bridges.

Despite the validation process being powered by a Relay smart contract, the protocol still requires involvement of node runners to transfer the users’ on-chain data so the smart contract can validate this information. 

On top of the TeleportDAO have been built several dApps, including:

• TeleSwap: cross-chain DEX that supports BTC and BRC-20 standard tokens swaps and asset transfers across Bitcoin, Ethereum, Polygon, and BNB chain networks;
• TeleOrdinal: a decentralized, cross-chain marketplace for Bitcoin (Ordinals) NFTs that allows users to purchase Bitcoin NFTs with ERC-20 tokens.

Token utility: At the heart of the platform’s governance and rewarding mechanism lies its native $TST token. It is primarily used for rewarding relayers and granting access to decentralized voting within the TeleportDAO.

Since October 2023, the platform has conducted two phases of incentivized programs on CoinList, where over $5.9M was traded in Bitcoin and over $630K worth of Ordinals NFTs were traded. 

On April 11th, 2024, Teleport DAO  announced a public sale on the same platform - CoinList. During this sale, it aims to raise over $7.125M, allocating 7% of the total supply. 

The $TST token from TeleportDAO was officially listed on June 27, 2024, following its successful token sale on CoinList, which ran from April 11 to April 18. This marks a key milestone in the project’s roadmap as it expands access to its ecosystem.

Taking into consideration the increased attention to Teleport DAO and the information mentioned above, the CoinLaunch team has completely analyzed the project and identified major pros and cons of participating in the project’s ICO:

Teleport DAO’s Token Sale Pros:

• Innovative product concept and utility; 
• Above the average Social Media Marketing and Growth Marketing performance;
• Token Sale on CoinList;
• Public security audit from the tier 1 company (Quantstamp).

Teleport DAO’s Token Sale Cons:

• High annual token inflation rate of around 34.2%;
• A huge portion of Ecosystem tokens unlocked at TGE; 
• Weak Marketing infrastructure, PR and Influencer marketing performance;
• Inexperienced team, 
• Lack of tier 1 funds supporting the project;
• Lack of transparency in tokenomics: According to the tokenomics, only 7% was allocated for sale, while the actual amount of tokens, including additional allocation, is 9.5%.