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 the involvement of node runners to transfer the users’ on-chain data so the smart contract can validate this information. 

On top of the TeleportDAO has 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.

Taking into consideration the increased attention to Teleport DAO and the information mentioned above, the CoinLaunch team has analyzed the project to identify the major pros and cons of participating in its 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:

• Relatively high Initial MC/ FDV ratio (17.275%);
• Relatively high initial FDV this market segment; 
• 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%.