Teleport System Token Price

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.

Teleport System Token (TST) works as part of TeleportDAO, a trustless bridge connecting Bitcoin to EVM (Ethereum Virtual Machine) chains and Bitcoin layer 2s. This allows developers to create secure and decentralized cross-chain applications for Bitcoin.

The bridge uses light-client verification. This means it can verify Bitcoin data on other chains without needing to trust third parties. It relies on a decentralized network of Relayer nodes. These nodes submit Bitcoin block headers to target chains, which are then verified against Bitcoin’s consensus rules.

TeleportDAO was founded in February 2022 by Mahyar Daneshpajooh and Ali Saheli. The token sale for TST was held on CoinList from April 11 to April 18, 2024, where they raised funds to further develop the platform.

TeleportDAO has a detailed roadmap:

• Q2 2024: Integration of TeleSwap with two major Bitcoin wallets.
• Q3 2024: Expansion of the Bitcoin bridge to five Bitcoin Layer 2 solutions.
• Q4 2024: Increase TeleSwap capacity using restaking.

Here are the main use cases for TST:

1. Governance: You use TST to participate in decentralized governance within the TeleportDAO. This means you can vote on important decisions and proposals that affect the development and direction of the project.
2. Rewards: TST is used to reward relayers. Relayers are nodes in the network that submit Bitcoin block headers to target chains, helping verify and finalize these headers against Bitcoin's consensus rules.
3. Transaction Fees: You use TST to pay for transaction fees within the TeleportDAO ecosystem. This includes fees for using applications like TeleSwap and TeleOrdinal.
4. Incentives: The token incentivizes users to participate in the network, such as providing liquidity or engaging in staking activities.
5. Access to Services: TST gives you access to various services within the ecosystem, such as trading Bitcoin assets on TeleSwap or buying and selling Bitcoin NFTs on TeleOrdinal​.
6. Trade TST on KuCoin: Trade Teleport System Token against other cryptos on the KuCoin Spot Market to profit from changing market conditions, but only after you DYOR. Buy, sell, or HODL $TST based on your investment goals and risk tolerance.

TST has a total supply of 1 billion tokens. The Teleport System Token's initial allocation is as follows:

• Ecosystem: 50.91% for ongoing development and incentives.
• Team: 25% allocated to the founding team.
• Investors: 8.55% for early backers.
• Community Sale: 7% for distribution among early adopters.
• Company Operations: 5% for operational costs.
• CoinList Reward Program: 3.01% for incentivizing early users.
• Advisors: 0.53% for strategic guidance.

TST Vesting Schedule

• Ecosystem funds unlock over three years.
• Team and investor tokens unlock after a 6-month cliff, with the remainder vesting over the following year.
• Community sale and reward program tokens partially unlock at the token generation event (TGE) with the rest vesting over six months​.