Foreword

Bifrost has successfully started the official bidding phase of Kusama, has received 13,265.1137 KSM support, and temporarily ranks fourth among the parachains participating in the bidding. Bifrost parachain auctions can be supported through two methods: vsKSM Mint Drop and Crowdloan. At least 11 BNC rewards can be obtained for every 1 KSM minted or locked. Currently, the channels that support Bifrost’s parachain auction are:

• Decentralized: Fearless, Nutbox,

• Centralized: Kraken, OKEx, Gate, MXC,

More channels are being launched as scheduled…

Development

Bifrost Node & Runtime

• Release version v0.8.0, register Kusama Parachain Genesis block

• Audit Genesis block

• Complete all api docking of the Swap module, and wait for the test data to work normally after the new pool is established

• Storybook development of components under the liquidity page of the Swap module

• Fix and optimize Dapp bug caused by new chain upgrade

• Complete Bancor module code writing and unit testing

• SALP module adds official Crowdloan reward calculation

• Swap module interface with front-end docking

• Write SALP query reward documents

• Implement pallet-salp

• Support reading genesis_config data from json

• Upgrade polkadot-fork to polkadot-v0.9.4

• Dealing with problematic genesis_config data

• Cross-chain testing and related repairs, integrated into Asgard runtime

• Salp supplements the partilally withdraw interface and contribution traversal

• Establish salp branch and synchronize related code updates

• Bifrost runtime added vesting module

• Verify Parachain Block Produce

• Statistical analysis of data

vsKSM Mint Drop

• Test before the official opening

• New balance display in the account floating layer on the official website of the event page

• Add the coming soon status and show the reservation amount

• Added TGE ratio reminder to the event page

• 3rd party channel status update on event page

• The minimum minting limit is adjusted to 0.1 KSM

• Make an appointment in advance for the user to open the head state modification

• Create and audit multi-signature accounts

Ecosystem

• On June 7, Lurpis, co-founder of Bifrost, explained Bifrost’s slot bidding strategy and advantages at the community of hellobtc Polkadot Ecology Gala. As a KSM holder, how to participate in the ecological project slot auction is the best choice to get the maximum incentive? Details: https://mp.weixin.qq.com/s/z0c1-XzIQ1OwWNfkBQ9tqQ

• On June 8, the blockchain community CryptoDiffer hosted an AMA on Bifrost slot bidding in the Telegram community. Bifrost Product Manager Tyrone answered user questions about Bifrost Kusama slot bidding and strategy.

• On June 9, Bifrost and MathWallet formally entered into a strategic partnership. MathWallet, as an early evangelist of polkadot ecology, has now supported the Bifrost Kusama parachain slot auction. In the future, both parties will combine derivatives liquidity and various DeFi applications to jointly promote the healthy and sustainable development of Polkadot and Bifrost ecology.

• With the announcement of the Kusama slot auction time, all platforms that support Crowdloan have successively opened auction channels. Users who log in to the platform can vote for KSM for the supported Polkadot ecological project. Currently, the CEX cooperating with Bifrost includes OKEx and Kraken, all All KSMs voted on the platform will eventually be summarized on Polkadot’s official Crowdloan.

• On June 10, Bifrost held the online launch of Kusama Slot Auction. QinWen, Head of Web3 Foundation China, Cao Yin, Managing Director of Digital Renaissance Foundation and Bifrost eco-partners talked about WASM, slot bidding and Polkadot eco-partnership. The session had 39,059 views, 4,453 viewers and 7,537 comments. Details: https://www.odaily.com/topic/718

• This week, Bifrost officially announced the parachain bidding rules, rewards and strategies. The total reward is 3,000,000 Mainnet Token BNC, the hard cap reward is 250,000 KSM, the reward ratio is 1 KSM: 11+ BNC, the unlocking period is TGE 50%, and the remaining part will be released linearly within 48 weeks.

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 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.

Learn more about Bifrost

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