TeleportDAO is a secure, and capital-efficient infrastructure that connects blockchains together. Using TeleportDAO, users can move any asset or data (token, NFT, contract calls, etc.) from one blockchain (called source chain) to another blockchain (called target chain). TeleportDAO does this in a trustless and instant manner and it works between any programmable and non-programmable blockchains.
TeleportDAO token is called TDT. TDT is a governance token that is also used to incentivize TeleportDAO participants. Moreover, TDT can be staked by the users so that they are enabled to use the instant feature of the platform.
TeleportDAO uses Relay for its bridge, which is the most secure solution to blockchain interoperability as it does not rely on third parties. Instead, all the cross-chain data is verified by smart contracts. To deploy TeleportDAO smart contracts, the target chain needs to be programmable, however, the source chain can be programmable or non-programmable. TeleportDAO adjusts to different blockchains with different consensus mechanisms and different speeds.
Transferring assets from one blockchain to another is often a time taking process. This can introduce some risks for cross-chain users. For example, it can impose a big loss for users who need to exchange their assets on another blockchain immediately. TeleportDAO introduces Teleportation mechanism which enables users to perform the cross-chain settlement instantly.
Two dApps have already been built on top of the TeleportDAO infrastructure: cross-chain transfer and cross-chain exchange.
