Boring Tokens

Boring Tokens combine the liquidity of stablecoins with the returns of passive, diversified equity investments. Like stablecoins, they are pegged to the US dollar and can be transferred freely. Unlike stablecoins, they rebase to track the performance of the MSCI World Index and are backed by iShares ETFs.

PEGGED TO USD FREELY TRANSFERABLE INDEX TRACKING ETF BACKED

Boring Tokens combine the liquidity of stablecoins with the returns of passive, diversified equity investments.

Like stablecoins, they are pegged to the US dollar and can be transferred freely. Unlike stablecoins, they rebase to track the performance of the MSCI World Index and are backed by iShares ETFs.

While stablecoins lose value to inflation,

Boring Tokens earn a full market return.

	Stablecoins	Boring Tokens
PEGGED TO USD
FREELY TRANSFERABLE
RETURN	ZERO	FULL MARKET
BACKING	US TREASURIES	ETFs

* By full market return we mean the return of the MSCI World Index, net of fees. This return is achieved through rebasing. ** Stablecoins are typically backed by a mix of US treasuries, bank deposits and money market funds. Their returns are kept by stablecoins issuers.

Boring Tokens can be used as an alternative to stablecoins to build wealth over time.

PEGGED TO USD

Boring Tokens are pegged to the US dollar. They can be used to pay for goods or services, settle debts, or make gifts - with the assurance that one Boring Token will always be equal to one US dollar.

1 BORING TOKEN = 1 USD

INDEX TRACKING

While the value of each Boring Token is fixed, their number increases and decreases with the performance of the MSCI World Index. This mechanism is built into the Tokens’ smart contract and adjusts balances across all wallets, automatically, in real time.

This mechanism is called rebasing.

It allows the Tokens to track the performance of the Index while maintaining their pegs.

EXAMPLE

If the MSCI World Index increases by 5%, the number of Boring Tokens in your wallet also increases by 5%. If you had 100 Boring Tokens, you now have 105.

Meanwhile, the value of each Boring Token remains the same at one US dollar. The total value of your Boring Tokens therefore increased from 100 to 105 US dollars - or 5%, like the MSCI World Index.

The MSCI World Index is a broad, global equity index composed of 1,396 large and mid cap stocks from across 23 developed countries, together representing 85% of the total market capitalisation of each country covered. For indicative purposes, over the past 10 years, the Index delivered an average annual return of 10.66%.

1,396

Large and
mid cap stocks

23

Developed
countries

85%

Total
market cap

average annual return
2015 - Present

10.66%

Boring Tokens are the
most boring investment
available on the
blockchain and a good
idea for most.

For more details on how Boring Tokens fit within a conservative wealth management strategy:

White paper > Economic analysis

ETF BACKED

Proceeds from the sale of Boring Tokens are invested in exchange-traded funds (ETFs) tracking the MSCI World Index - as hedge and security. The ETFs are EU-regulated undertakings for collective investment in transferable securities (UCITS), managed by iShares.

Importantly, the ETFs are not held by the Tokens' issuer but by an independent trust company licensed by the Bermuda Monetary Authority (BMA). For transparency, the trustee reports its holdings monthly.

For more details on how investments are protected:

White paper > Legal structure TRUST report - March 2025

FREELY TRANSFERABLE

Compatible with most wallets

Boring Tokens are freely transferable ERC-20 tokens. They are compatible with any wallet supporting that standard, including :

Metamask

Ledger

Trust

EXODUS

Trezor

Coinbase

no whitelisting required

Boring Tokens can be transferred to or from any address.

As such, they offer a permissionless, peer-to-peer alternative to traditional, centralized payment systems. They do not rely on any intermediary and can be used at scale.

Exceptions apply

1. We need to verify your identity if you wish to purchase or redeem Boring Tokens directly from us.
2. We may restrict transfers to certain addresses associated with fraudulent or criminal activity.
3. We may restrict transfers from certain addresses if ordered to do so by a court of competent jurisdiction.

Fast, low cost transfers
with arbitrum

Boring Tokens are originally issued on Ethereum. A dedicated bridge allows them to be converted into Arbitrum Tokens and back, while preserving all of their features. Compared to Ethereum, Arbitrum provides faster processing times and lower transaction costs.

Ethereum	About 10 seconds	1 to 10 US dollars
Arbitrum	Less than a second	1 to 10 US cents

full DeFi compatibility
with non rebasing tokens

Some DeFi applications - such as lending platforms, decentralized exchanges, and privacy protocols - may not fully support Boring Tokens’ rebasing feature.

To ensure full compatibility, dedicated swap contracts on Ethereum and Arbitrum allow Boring Tokens to be converted into non-rebasing Tokens and back.

Non-rebasing Boring Tokens still track the performance of the MSCI World Index. However, instead of adjusting the number of Tokens, the value of each Token fluctuates directly with the performance of the Index. As a result, non-rebasing Boring Tokens are not pegged to the US dollar.

Boring Tokens ultimately come in 4 versions, each freely convertible into one another to suit your preferences.

BORING	Ethereum	Secure + Decentralised	Rebasing	Pegged to USD
aBORING	Arbitrum	Fast + Low cost	Rebasing	Pegged to USD
nBORING	Ethereum	Secure + Decentralised	Non rebasing	DeFi compatible
anBORING	Arbitrum	Fast + Low cost	Non rebasing	DeFi compatible

All contracts’ source codes are publicly available and verified on Etherscan.
For more details on how they work:

White paper > Technical Features