TeleportDAO logo

TeleportDAO (TST)

Past
Total Raise: $9,625,000
Date: 16 Mar - 17 Apr

TeleportDAO is a light-client bridge designed to connect Bitcoin and its L2 networks with EVM chains in a more secure way. 

To validate cross-chain transactions, Teleport DAO utilizes relayers that transfer users’ on-chain data to the smart contract that validates cross-chain transactions. It is powered by the native $TST token, which is used for rewarding relayers and voting on DAO proposals within the platform.

The company has garnered support from a decent network of funds, such as CoinList, Quantstamp, and others, who invested over $2.5M into the project in 2023.

Now, in 2024, it is raising an additional $7.13M via the ICO round on CoinList, aiming to achieve a total raise of over $9.63M.

❗️ ❗️ ❗ IMPORTANT:

Please note that all information, including our ratings and reviews, is presented purely for educational purposes. CoinLaunch isn't a financial advisor and doesn't intend for the information to be perceived as investment advice or recommendations. Our project evaluation methodology encompasses 89+ distinct variables/metrics, refined over time through the team's rich 7-year experience.

TeleportDAO Overview

Ticker: TST
Country: Canada
Industry: Blockchain Service
Founded: 2022
Whitelist: No
Blockchain Network: Bitcoin, Ethereum, Polygon, Arbitrum, Binance Smart Chain.
KYC: Yes
Bounty: Yes
MVP: Yes
Type: ICO, Equity
Security Audit: Yes

TeleportDAO Review

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%.

TeleportDAO Token Economy

Total Raise: $9,625,000
Total Supply: 1,000,000,000
Private/Pre-sale: 85,500,000 (8.55%)
Public Sale: 70,000,000 (7%)
Fully Diluted Valuation (FDV): $75,000,000
Initial Circulation Supply: $70,000,000 (93.33% of FDV)

TeleportDAO Token Sale (ICO & IDO) Rounds

ICO: 11 Apr - 17 Apr

Price: $0.075
Tokens for sale: 95,000,000
Raise: $7,125,000
Lock-Up: 20% unlocks after a 75 day period, remaining 80% vesting ...
Launchpad: CoinList
Seed: 16 Mar - 17 Mar

Price: $0.029
Tokens for sale: 85,500,000
Raise: $2,500,000
Lock-Up: 20% unlock in 75 days after ICO and 80% remaining upon 6 ...

TeleportDAO Token Release Schedule

TeleportDAO Token Release Schedule

TeleportDAO Funds and Backers
(3/6)

Submit
Gate Labs
Gate Labs
Score:
3 numbers of
investment
Read More
Quantstamp Logo
Quantstamp
Score:
2 numbers of
investment
Read More
SNZ Holding logo
SNZ Holding
Score:
2 numbers of
investment
Read More
View All

TeleportDAO Marketing Activity

Search Engine Optimization
Social Media & Community Management
PR & Traffic
Marketing Infrastructure
Influencer Marketing
Growth Marketing
Last Update:  15 Apr 2024 Upgrade

TeleportDAO News

TeleportDAO Roadmap

Q2 2024

Integrate TeleSwap with two main bitcoin wallets 

Q3 2024

Expand Bitcoin bridge to 5 Bitcoin L2s (add BoB, B^2, Merlin, CKB)

Q4 2024

Increase TeleSwap capacity using re-staking

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