Teleport System Token (TST) is the utility token for TeleportDAO. TST is an ERC-20 token, primarily used within the TeleportDAO ecosystem.
TeleportDAO is a trustless bridge that connects Bitcoin to EVM chains and Bitcoin layer 2s. This setup allows developers to create secure and decentralized cross-chain applications for Bitcoin.
TeleportDAO uses light-client verification to verify Bitcoin data on other chains without relying on third parties. The network of Relayer nodes submits Bitcoin block headers on target chains, which are then verified against Bitcoin's consensus rules. Two main applications powered by this bridge are TeleSwap and TeleOrdinal.
- TeleSwap: A decentralized protocol for bridging Bitcoin and Bitcoin tokens (like BRC-20s) to other chains. It lets users trade Bitcoin assets for ERC-20s and bring their Bitcoin assets to other chains by wrapping them into decentralized wrapped assets.
- TeleOrdinal: A cross-chain marketplace for Bitcoin NFTs (Ordinals), allowing users to buy and sell Ordinals with stablecoins without needing to trust sellers.
