Hey, guys! I am really amazed by the potential of BitFrost in their capabilities when it comes to staking! They are currently participating in the KSM auction right now, and it would be amazing to see them receive a slot auction.
**What is Bifrost?**
Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for pledged assets to provide liquidity. Bifrost launched derivatives vToken for Staking and Polkadot Parachain Slot (Crowdloan). It has obtained $2.15M in fund-raising from NGC, SNZ, DFG, CMS and other institutions and Web3 Foundation Grant. It is also a member of the Substrate Builders Program and Web3 Bootcamp.
vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, CEX, and realize the transfer channel of pledge rights such as staking and Crowdloan through vToken, realize the risk hedging of pledge assets, and expand scenarios such as vToken as collateral for lending, its staking reward part of the interest can be offset to achieve low-interest loans.
The Bifrost project was created to solve staking problems. Its mission and vision is to provide liquidity for as many staking assets on the chain as possible (Staking, Collateral, PLO, cross-chain locking…) and become more Connectors between chains. The project first uses the staking scenario as an entry point to provide liquidity by issuing asset derivatives. After continuous iterative research and development, it will adapt to all scenarios involving pledged assets on the chain in the future. The Bifrost project has obtained the Web3 Foundation Grant and is a member of the Substrate Builders Program. It is one of the 15 core members of the Web3 Bootcamp incubator. It has obtained the Web3 Foundation and Wanxiang Blockchain Laboratory in technology, product, capital, legal affairs, and ecological Comprehensive support in cooperation and other fields.
**Why should you use Bifrost?**
Bifrost uses secure and decentralized asset cross-chain technology to ensure the security of pledged assets and release liquidity through vToken derivatives. By standardizing the interest generation, settlement, and rights retention of pledged assets, it can provide liquidity for all kinds of pledged assets.
Could you guys possibly imagine the amount of possibilities BitFrost could bring to DeFi in the future?
For more information regarding BitFrost: