TeleportDAO is a light client bridge that is the most secure, decentralized, and capital-efficient bridge. Unlike most bridges that are using an additional layer to connect chains (which adds a huge vulnerability to the protocol), TeleportDAO connects blockchains directly together.
TeleportDAO leverages relay, which is a secure, decentralized, and universal blockchain interoperability solution. In this solution, parties called Relayers submit data from the source chain on the target chain. Then the Relay contract validates the submitted data. Therefore, all the cross-chain data validations are done by smart contracts which give us blockchain-level security (the highest level of security).
TeleportDAO token has three main use cases:
- 1.TDT is the governance token of TeleportDAO.
- 2.The Relay fee can be paid in TDT which has a discount.
- 3.TDT can be locked to perform instant cross-chain settlement in TeleSwap (a cross-chain settlement protocol built on top of TeleportDAO).
Anyone can become a Relayer in TeleportDAO by running the Relayer script. Relayers move the necessary data from the source chain to the target chain. In return, they receive a reward from the protocol.