Introduction

In Bifrost’s bid for the first Kusama Parachains, 142,430.92 KSM of support was accumulated, of which 136,816.20 KSM was contributed from the integrated SALP: vsKSM Mint Drop.

vsKSM Mint Drop uses the creation of multi-signature addresses on the Kusama relay chain to complete proxy contributions and Derivatives generation, with 5% set aside for Liquidity.

All users who completed contributions through this channel received vsKSM & vsBond-Bifrost as Liquidity Derivatives and will soon be able to capture the first pledged Liquidity using the “Lightning Redeem” feature.

What is Lightning Redeem？

Lightning Redeem is the first Liquidity release scenario for users participating in the Bifrost vsKSM Mint Drop. Users with vsKSM & vsBond-Bifrost can Redeem KSM at a fixed 10% discount via the bifrost.app-vCrowldoan-Redeem module, for a total of 5614.72 KSM (136,816.20 KSM * 5%) on a first-come, first-served redeem. At the same time, the user’s vsKSM + vsBond-Bifrost will be destroyed.

Liquidity Redemption Rules

The Lighting Redeem Pool will release 30 KSM in the first TBD block every 7200 blocks (approximately 24 hours) for a total of 180 days.

Development

Bifrost Dapp & Dashboard

• Swap No Trade to Short status

• Support for KUSD & KAR display

• vCrowdlaon Redeem Module Adjustments

• 0.9.4 Related content walk check

• Listing activity popup window add countdowe

• Optimize the experience of contributing in progress

• Dapp support for ERC20 version vETH

• Add liquidity pool share ranking in bootstrap activity

• Dapp mobile walkthrough

• salp redeem module api docking

• Wallet page asset parallel chain cross-chain development

• Adaptation of existing pages and components on cell phones, opening of mobile header and menu

• bifrost version upgrade to v0.9.11

• SALP and polkadot relay chain interfacing technical discussion meeting

• Completed v0.9.11 version upgrade, review related code

• Fix a slow block out issue on Bifrost mainnet

• Test & Release & Upgrade Bifrost v0.9.4

• Deploy Bifrost collator Europe, North America nodes

• Generate & test Bifrost v0.9.6

• Update SALP confirmation service

• Wallet page transfer cross-link bug fix

• bootstrap activity development support

• node multi-node support

• veth page component development, web3 login support

• kusama new auction support, cross-chain api update

• banner optimization & countdown bug & modal content addition

• Cross-chain testing & bug fixing

• Asset module optimization

• Performance optimization

• Refactoring toast message alerts

• xtokens adjustments

• Fix/access to new transaction records

• Karura cross in settlement path wrongly displayed as

• Fix BNC cross-chain

• Fix bnc Modal bug + add banner

• Fix the compilation error caused by bifrost.js

• Fix some bugs in listing

• vesting test

Bifrost Node

• Asgard reboot, update, the corresponding relaychain using 0.9.10 and above will have stopped out of the block, currently using the 0.9.8 kusama

• Relaychain 0.9.10 update

• Bifrost testnet v0.9.3 and v0.9.4 testing

• Fix bifrost subql sync issue

• KUSD script testing on-chain testing

• New feature in mining module: rewards below early bird are no longer returned to charger

• Potential problem with mining module force-retire-pool fixed

• Mining module annotation refactoring

• Mining module adds dual language readme

• asgard genesis export bug fix

• salp-services service update

• Test chain confirmation service update

• v0.9.4 Audit code follow up

• bifrost salp confirmation service upgrade

• Track the issue of bifrost-v0.9.4 mainnet upgrade without block, synchronize with official information

• Follow up salp to confirm service stopped syncing

• bifrost-v0.9.4 wasm generation & testing & docker image generation

• Bifrost client adds System Api support

• Data monitoring platform synchronization session

• Emergency fix: disable pallet_xcm::execute()

• Update & test v0.9.4 version

• Integration test for v0.9.10 and some xcm call refact

• Upgrade polkadot to v0.9.11 and trace the xcm compatibility issues

• Bridge solution investigation

• Bridge integration with Erc20 Token from Snowfork

• Finish the poc demonstration about data monitoring platform

• Integration test support for v0.9.11 and some xcm call refact/fix

• Trace the xcm compatibility issues

• ChainBridge solution investigation

• Add Salp-lite for the upcoming polkadot auction

• Seperate repo for data monitoring platform & Readme improvement

• democracy Create mining testing

• Zenlink dex module functional testing

• Bifrost open source repository documentation

• 0.9.4 Product upgrade meeting

• Centralized SALP documentation

• Bifrost.js upgrade xcm compatibility update upgrade

• CI/CD: Fixing benchmarking files for bifrost

• SALP-DOT: liquidity-mining support for Polkadot: DOT (via Instance)

• SALP-DOT: vsbond-auction support for Polkadot: DOT (via Instance)

• SALP-DOT: development script, for proxy multi-signature accounts crowdloan: attribute

• SALP-DOT: SALP validation service modification, for Polkadot support

• FIX: fix liquidity-mining and vsbond-auction compilation issues due to v0.9.11 upgrade

• Add identity

• bifrost-service interface update for kusama new auction

• Modified, docked and synchronized transaction history interface

• Centralized SALP contribute query api docking

• bifrost testnet v0.9.6 test, update

Ecosystem

Bifrost Dapp

• On October 12, Bifrost Mainnet was upgraded to v0.9.2. This upgrade mainly includes the Swap module online and kUSD transfer function. In addition, the Zenlink native Token ZLK issuance function (not Transfer) is also supported. https://forum.bifrost.finance/t/8-referendum-proposal-enable-swap-module-and-kusd-transfer/1434

• On October 15, Bifrost opened Referendum Proposal №11, which would enable BNC transfers 350+ addresses on the chain have already voted. In addition, Bootstrap will be opened before the democratic opening of BNC transfers, as an advance build-up of liquidity for BNC/kUSD.

• On October 21, the Bifrost community opened the transfer referendum successfully, and BNC, as the first cross-chain bootstrap project of Boca ecology, opened the AMM transaction of BNC/kUSD and Liquidity incentive of BNC/kUSD LP at 12:30 pm in UTC that night, and the total rewards of 200k BNC & 25k KAR will continue to be incentivized for 3 months. A total of 200k BNC & 25k KAR will be awarded for 3 months.

SALP Collaboration

• On September 24, Bifrost and Parallel Heiko, the Canary network, entered into a partnership, and Parallel Heiko has passed the SALP referendum proposal and executed successfully on the chain. Through the SALP protocol, users will be able to mint vsKSM Derivatives for Farming. vsKSM will be able to easily trade between KSM and other assets.

• On October 14, Bifrost SALP second batch Kusama slot bid data review article was sent out, Calamari, Basilisk, Altair, Kintsugi and Parallel all bid for slots through SALP. Also, all 5 bids were successful in getting the second batch of Kusama Parachains.

• Bifrost SALP Online airdrop has been released on October 17, 3000 kUSD airdrop rewards have been released, domestic participating partners can check the rewards in the Polkawallet wallet. Winners list: https://bit.ly/2XYHTSE

• On October 23rd, Bifrost SALP entered into a partnership with Picasso, the Composable Finance pioneer network. Through the SALP protocol, users will be able to mint vsKSM Derivatives for Farming. Once Picasso wins the auction, vsKSM will be able to easily trade between KSM and other assets.

Marketing Activities

• On September 25, Polkadot & friends Meetup held by Polkaworld in Chengdu, Bifrost Council Member Tyrone was invited to participate in this discussion and explained the current project planning and progress of Bifrost on how DeFi will continue to achieve re-expansion under Web3.0.

• On October 18, BML LIVE №109 — Bifrost BNC & Karura DEX, How to Ignite the First XCM Cross-Chain Application, featured Bifrost Technical Committee member Lurpis on the BML Telegram live. During this period, the SALP module, which is the core of Bifrost’s liquidity business for slot bidding, has accumulated approximately $54,712,944 in derivative minting since it went live.

• On October 19, Bifrost made a guest appearance at Acala Discord Community Call, where Bifrost council member Tyrone gave a presentation on Bifrost SALP data aggregation, Bootstrap, Liquidity Mining and other related activities, as well as Bifrost’s future development plans.

• On October 20, Polkaworld hosted a community event series, Ask Me Anything: Everything about Bifrost Liquidity Bootstrap. Held at the Polkaworld Telegram Community ~ Lurpis said: Bifrost and Karura’s Bootstrap collaboration is the first application of parachains to be combined across chains via XCM. In the future, the combination of DeFi between parachains will usher in more ways to play with each other.

• On October 21, Bifrost was invited to participate in Acala Live #3: Karura Goes Live BNC and simultaneously kick off the liquidity incentive program. The livestream focused on a range of community issues such as decentralized listing, product planning and cross-chain interoperability between the two parachains, recap: https://bit.ly/3b7spPS

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 Substrate Builder’s Program and Web3.0 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.

Learn more about Bifrost

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