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All about $BORING

Background​

Before we take a deep dive on the $BORING, the token powering SuperBoring. Let's give a quick reminder of the main SuperBoring contracts:

  • SuperBoring.sol : the main smart contract acting as the core contract of SuperBoring.
  • TOREX.sol: TOREX stands for T(WAP) OR(acle) EX(change), the smart contract engine used to make sure that the funds accumulated (in-tokens) on the main SuperBoring contract are continuously and efficiently swapped for the destination asset (called *out-tokens). You can think of the TOREX as the LP contract for each pair of in-tokens and out-tokens at SuperBoring.
  • SleepPod.sol: A per-user contract that holds a user's $BORING. Staking, unlocking, and the AI Assistant all operate against the Sleep Pod balance.
TOREXes are directional

Each TOREX is directional, meaning that it can only Dollar-Cost-Average in one direction. For example, the pair ETHx-DAIx has a different deployed TOREX than the pair DAIx-ETHx.

In addition to these contracts, the BORING token is a core part of the SuperBoring ecosystem. It is used to incentivize traders to stake their $BORING tokens to TOREXes, and in return, they receive a share of the fees generated by the TOREXes.

Tokenomics​

Token Details​

The $BORING token is a utility token that is used to stake on different DCA markets (TOREXes) to earn a portion of the revenue generated by that market.

PropertyDetails
Token NameSuperBoring
TickerBORING
BlockchainMultichain
Fixed Initial Supply100,000,000
Launch date/timeJul-02-2024 11:20 AM UTC
BORING Token Contract (Ethereum Mainnet)0x0Bc4dF77353ae96f31bC82bC2536bb23B2009919
BORING Token Contract (Bridged to Base)0x2112b92A4f6496B7b2f10850857FfA270464d054
BORING Token Contract (Bridged to Optimism)0xd9bfb8A24c8E1889787Ea0f99D77C952a82Bfe50
Bridging $BORING from Arbitrum

Moving $BORING off of Arbitrum currently requires a two-step bridge: from Arbitrum to Ethereum mainnet, and then from Ethereum to your destination chain. Bridging between the other supported networks works directly. A faster direct path for Arbitrum is in the works.

Token Allocations​

  • Community (75%) — emitted to users over time via the quadratic emission formula. This is the pool that rewards DCA activity and staking on TOREXes.
  • Project (20%) — reserved for the team, contributors, and ongoing protocol development. This allocation is not instantly available: it is subject to the same vesting schedule as the rest of the supply, so it unlocks gradually over time rather than all at once.
  • Liquidity Bootstrap (5%) — seeds the initial on-chain markets (e.g. $BORING/SUP, $BORING/WETH) so users can acquire $BORING outside of emissions.

Sleep Pods​

A Sleep Pod is a per-user, on-chain vault that holds your $BORING. It is automatically created the first time you start earning $BORING from a DCA position, and from that point onward it is the only place where your $BORING lives while it is being used inside SuperBoring.

A Sleep Pod is what gives you access to the protocol's core mechanics:

  • Staking — only $BORING held in your Sleep Pod can be staked on TOREXes to earn a share of trading fees.
  • AI Assistant — the AI Assistant (experimental) feature is paid for in $BORING burned out of the Sleep Pod.
  • Unlocking — moving $BORING out of the Sleep Pod (to a regular wallet) goes through the unlock flow described below.

Getting $BORING into your Sleep Pod​

There are two ways to acquire $BORING:

  1. Earn it from DCA — when you run a DCA position on Base, $BORING emissions are streamed directly into your Sleep Pod. No action needed on your part.
  2. Buy it on Uniswap — you can purchase $BORING from the $BORING/SUP or $BORING/WETH pools on Base.

$BORING bought on Uniswap lands in your regular wallet. To use it inside SuperBoring (stake, AI Assistant), you must deposit it into your Sleep Pod. This is a plain ERC-20 transfer — no special smart contract calls are required. The SuperBoring UI offers two ways to do this:

  • Send $BORING from your connected wallet via the deposit form, or
  • Copy your Sleep Pod's deposit address and send $BORING to it from anywhere.
Why is it called a "Sleep Pod"?

$BORING that sits in a Sleep Pod is "sleeping" — it is held safely and can be staked or spent inside SuperBoring, but it cannot be freely transferred out until it goes through the unlock process. This protects long-term emissions from being instantly dumped on the market.

Sleep Pod Unlocking Rules​

To move $BORING from your Sleep Pod back into a regular wallet (i.e. to make it freely transferable), you must unlock it. There are two unlock paths, both of which apply a tax that goes to the protocol treasury (taxRecipient).

1. Instant unlock​

You receive a portion of the amount immediately in your wallet; the rest is sent to the treasury as a penalty.

  • Penalty: instantUnlockPenaltyBP = 8000 → 80% is taxed.
  • You receive 20% of the amount you chose to unlock, instantly.

2. Vested unlock​

You pick an unlock period between minUnlockPeriod and maxUnlockPeriod. The contract spawns a BoringFontaine streaming contract that pays you continuously over the chosen period. The longer you vest, the larger the share you keep.

The unlock percentage follows a square-root curve:

unlockedPct=minPct+(100%−minPct)×periodmaxPeriodunlockedPct = minPct + (100\% - minPct) \times \sqrt{\frac{period}{maxPeriod}}

Where minPct = vestUnlockMinPercentageBP = 3000 → 30%, and maxPeriod = 360 days.

Parameters​

ParameterValueMeaning
instantUnlockPenaltyBP8000 (80%)Tax applied when you unlock instantly.
vestUnlockMinPercentageBP3000 (30%)The floor used in the vested-unlock sqrt curve.
minUnlockPeriod7 daysShortest allowed vested-unlock period.
maxUnlockPeriod360 daysPeriod at which a vested unlock returns 100% of the amount.
earlyEndPeriod7 daysWindow before the end of a vest in which terminateUnlock() becomes callable (stops the stream early and forwards the remainder).
taxRecipienttreasury.superboring.ethReceives all unlock penalties / vesting taxes.

Example: how much do I get for different vesting periods?​

For a 1,000 $BORING unlock with the parameters above:

PeriodFormulaUnlocked %You receiveTax to treasury
Instant (0)flat 20%20.0%200 $BORING immediately800 $BORING
7 days30% + 70% × √(7/360)≈ 39.8%≈ 398 $BORING streamed over 7d≈ 602 $BORING
30 days30% + 70% × √(30/360)≈ 50.2%≈ 502 $BORING streamed over 30d≈ 498 $BORING
90 days30% + 70% × √(90/360)≈ 65.0%≈ 650 $BORING streamed over 90d≈ 350 $BORING
180 days30% + 70% × √(180/360)≈ 79.5%≈ 795 $BORING streamed over 180d≈ 205 $BORING
360 days30% + 70% × √(360/360)100.0%1000 $BORING streamed over 360d0
Streaming via BoringFontaine

A vested unlock does not "drip" your tokens out as a series of claims — it creates a dedicated BoringFontaine contract that streams $BORING to your recipient address in real time using Superfluid. You see the balance increase second-by-second. Anyone can call terminateUnlock() in the final earlyEndPeriod window to close the stream and forward the remaining balance to the recipient.

About the $BORING Staking Mechanisms​

The Fee structure​

Each TOREX charges a small fee on the in-tokens it processes:

  • Total fee: 0.5% of the in-token volume.
  • Where it goes: the entire fee is redistributed to $BORING stakers of that TOREX, proportionally to the amount of $BORING each staker has on it.
Frontend Fee has been removed

Previously, a portion of the 0.5% fee was kept by the interface operator (the "frontend" / distributor that the user came through) — this was called the Frontend Fee. The frontend fee, along with the entire distribution-fee module (DistributionFeeManager, DistributorFeeCollector, DistributionFeeDIP), has been removed as of SuperBoring contracts v2.0.0. The full fee now goes to TOREX stakers. Interface operators continue to earn through the referral program.

So how do you choose which TOREX to stake your $BORING tokens in? This is where the BORING quadratic emission formula comes into play.

Quadratic Emission Formula​

This part may be a bit complicated but hang in there! Here is all that you need to know:

What is a Distribution Pool?

A Distribution Pool is a primitive of the Superfluid Protocol and a special feature of Super Tokens. It allows us to stream a token to a group of recipients in a scalable way. To learn more about it, please refer to the Superfluid Protocol Documentation.

  • Distribution Pools have what we call "member units" (=shares). According to the number of shares a TOREX has in a Pool, the TOREX will receive a proportional amount of $BORING emissions.
  • The quadratic emission formula is used to calculate the number of shares a TOREX has in a Pool based on the amount of $BORING staked on that TOREX. The formula is as follows:

torexShares=(∑i∈stakersstakedAmount(i))2torexShares=\left( \sum_{i \in stakers} \sqrt{stakedAmount(i)} \right)^2

Example:​

  • Let's say that there are 2 TOREXes ETHx-DAIx and DAIx-ETHx.
  • Alice stakes 100 $BORING tokens in the ETHx-DAIx TOREX and 25 $BORING tokens in the DAIx-ETHx TOREX.
  • Bob stakes 9 $BORING tokens in the ETHx-DAIx TOREX and 36 $BORING tokens in the DAIx-ETHx TOREX.
  • The TOREX shares in the Distribution Pool will be calculated as follows:
    • For the ETHx-DAIx TOREX: torexShares=(100+9)2=132=169torexShares = ( \sqrt{100} + \sqrt{9} )^2 = 13^2 = 169, of which:
      • Alice will get 100/(100+9)∗169=155100/(100+9) * 169= 155 shares
      • Bob will get 9/(100+9)∗169=139/(100+9) * 169= 13 shares
    • For the DAIx-ETHx TOREX: torexShares=(25+36)2=112=121torexShares = ( \sqrt{25} + \sqrt{36} )^2 = 11^2 = 121, of which:
      • Alice will get 25/(25+36)∗121=4925/(25+36) * 121= 49 shares
      • Bob will get 36/(25+36)∗121=7136/(25+36) * 121= 71 shares
  • The TOREXes will then receive a proportional amount of $BORING emissions based on their shares in the Pool. In this case, the DAIx-ETHx TOREX will receive less emissions than the ETHx-DAIx TOREX.

Emission Schedule​

Community emissions follow a deadline-based schedule. Instead of targeting a fixed emission rate, the contract continuously rebalances the emission rate so that the remaining community supply linearly drains to zero at a configured emissionEndTime.

  • The current emissionEndTime is set to 2 years from TGE via govQEUpdateEmissionEndTime.
  • The per-block emission rate adjusts automatically as balances change: emissionRate=balanceLeft⋅q2qqSum⋅timeRemainingemissionRate = \frac{balanceLeft \cdot q^2}{qqSum \cdot timeRemaining}.
  • After the end time, no further community emissions are produced.