Teleport is a bridge between Bitcoin and EVM chains such as Polygon and BNB Chain. The aim of the project is to enable Bitcoin transfers and trades of Bitcoin Ordinals, Inscriptions, and other NFTs to be traded on several Ethereum Virtual Machine ( EVM ) chains to be traded in stablecoins, as well.
The project is partnered with Coinlist, one of the most popular ICO platforms that has initiated several launchpads. The presence of Coinlist in the project is a proof of credibility for many people. Though the project is not popular in Crypto community on Twitter yet, I think the promotions by Coinlist can bring the hype on it pretty soon.
TeleSwap is the platform where you can farm TST coins by providing liquidity.
First, you need to visit TELE BTC Farming page. Over there, you will see the notification that you need to bridge some Bitcoin from Bitcoin Mainnet to Polygon or BNB chains. If you choose to bridge the coins to BNB chain, you can get up to 125% APR for your stake. On the other than, the Farming APY from Polygon is around 97% as of writing. Thus, for the new stakers, BNB chain is more profitable as the fees are almost the same for both chain while bridging BTC from the mainnet.
When you bridge, you will pay for some fees from Bitcoin to BNB chain networks.
For every $1 you bridge, you receive 1 point for the event. Besides, for every $10 bridging activities of your referral’s, you get 1 more points in Coinlist's event
Basically, this is a great opportunity to be a part of a Decentralized Exchange that will work for Bitcoin as well as an NFT platform that enables you trade Bitcoin NFTs and Inscriptions.
The APR may drop over time but farming cheap TST is a great advantage.
As you see, the initial plan of the token IDO price is around $0.04 and if the project becomes popular, the coin may easily hit $1 or more depending on the utility of the token and the hype they can create.
There is a huge intention of people to trade on Bitcoin and, even though Bitcoin is not a perfect chain for these operations, the hype determines the valuation and trends in crypto. I do not want to miss it, I believe it is worth spending some time and money on a promising project that works between Bitcoin Mainnet and EVM chains.
Also, if possible, I want to try my luck with the upcoming IDO on WePad platform.
The tokenomics of the coin looks promising, as well. There will be a pretty low circulating supply and the initial marketcap can easily go 5x with the launch.
Though 25% for the team might be a bit high, the majority of the tokens will be allocated to bring a community and create a robust platform that generates income and value for Bitcoin.
As Gate is one of the investors, we can expect Gate listing in the very beginning. In terms of Coinlist's involvement, I cannot be sure but if it jumps into it, the price may rise pretty high. I am bullish on this project with a solid product 🔥
What do you think about Teleport project and TST coin?
Share your thoughts below 👇
Hive On ✌🏼
