Bifrost  DeFi - dapp.expert
Bifrost
Category: DeFi Blockchain: Polcadot Language: English, Chinese Platform: Web

Bifrost is an effective and simple way to increase funds

Bifrost is a multifunctional, scalable, non-custodial LSD parachain built on Polkadot. This platform provides standardized, high-yield, secure, and reliable assets that generate income for Web3 through XCM, implementing the vision of cross-chain usage of any LSD on any chain.

Table of Contents:

Key Principles of Bifrost

The Bifrost project is a platform within the Polkadot ecosystem, aiming to simplify and enhance staking processes and liquidity provision while minimizing delays in nominations. With support from the Web3 Foundation and participation in the Substrate Builder's Program, Bifrost offers a unique opportunity to convert PoS tokens into vTokens, allowing users to earn from both staking and liquidity provision. This includes the ability to convert KSM into vKSM and DOT into vDOT. Bifrost users can benefit from various features, including risk hedging, staking rewards, and increased liquidity.

As a DeFi protocol, Bifrost aims to address the following issues in PoS ecosystems:

  • The paradox between staking rewards and DeFi income;
  • The balance between staking/liquid tokens and the security of PoS chains;
  • Staking rewards in cross-chain scenarios.

For users, the main advantages include risk hedging during staking lockup, while DeFi projects can attract users and increase token liquidity. Additionally, Bifrost offers solutions for transactions between different parachains and staking rewards.

Features of Bifrost

It's worth noting the special advantages of the platform that users enjoy using.

Feature Description
Liquid Staking By creating vTokens on Bifrost, i.e., participating in staking through Bifrost, you retain control over your core staking assets during the lockup period.
Automated Staking Management All Bifrost staking protocols operate within the Bifrost parachain pallets, providing staking rewards every 24 hours without centralization risk.
Reduced Unstaking Period The Bifrost SLP program helps users to quickly realize the possibility of redeeming their assets by synchronizing the staking amount in real-time with the redemption volume at the protocol level as a queue. Theoretically, this speeds up the redemption process.
Additional Staking Rewards + DeFi Income Bifrost delegates staking on behalf of users, selecting a set of validators and redistributing rewards, thus offering more profitable options. Owning vTokens enables participation in scenarios with higher yields.

Currently, the network is active in 7 countries with the participation of 1176 nodes, totaling more than 5 million minutes of operation. The peak activity demonstrated the presence of 890 simultaneously online nodes. In 2020, Bifrost launched a new campaign, Asgard CC2, which added new features such as cross-chain transfer to EOS and validator testing. CC2 participants can receive up to 15,000 BNC tokens as a reward.

Bifrost, the foundational protocol in the Polkadot DeFi ecosystem, aims to become a key infrastructure for staked assets, providing liquidity.

The project launched the vToken derivative for staking and PLO in Polkadot, attracting investments of $2.15 million from institutions such as NGC, SNZ, DFG, CMS. vToken offers transaction optimization in various scenarios, including DeFi, DApp, DEX, CEX, and allows expanding the capabilities of staked assets, such as staking and PLO, through vToken, as well as implementing risk hedging and using vToken as collateral for lending.

Dapp Bifrost
Bifrost dapps
Dapps Bifrost

Bifrost is an effective and simple way to increase funds Statistics

Users
24 hr: 0
0%
Total: 0
(2400 days)
ATH: 0
(May 25, 2024)
Volume
24 hr: 0
0%
Total: 0
(2400 days)
ATH: 0
(May 25, 2024)
Transactions
24 hr: 0
0%
Total: 0
(2400 days)
ATH: 0
(May 25, 2024)
0

Reaction to the article

Reviews (0)