18,000 BNCs, Bifrost Asgard CC3 Incentive Testnet Campaign starts soon!
Bifrost will officially launch the new version of the Incentive Testnet Asgard CC3 on September 24th at 12:00 p.m (UTC+8). The campaign consist out of three parts:
• EOS Cross-Chain pickup
• Voucher Token (vKSM, vDOT) Exchange
Total pool of 18,000 BNCs.
To facilitate event participation, Bifrost will open the event in batches. The first to open is for Validator, which will increase from 50 seats to 500 seats in the CC3 Testnet with floating seat adjustments. Specific Testnet and BNC Incentive details are below.
Validator Block Contest
Total rewards: 9,000 BNCs
How to participate: run a Bifrost node, become a validator and produce blocks. Reward is based on blocks produced.
Reward List (updated when the event opens):
Floating Seats: Validator seats will start at 30 and will be filled based on the number of people waiting in the waiting list. For every more than 10 validators, 60% of the seats will be added from the waiting list in the next round, until the maximum number of seats is 500.
The election process will be conducted every three hours (1800 blocks) according to the NPoS Consensus Rules, based on ASG (Test Token, available via Telegram Faucet) staking and number of nominations to determine the winner or loser.
For example, if node A, B, and C produce 10, 20, and 30 blocks respectively during the Testnet period, then node A will receive 1,500 BNC reward formula: 10/ (10+20+30) * 9000 = 1500.
In addition, we will open up the EOS Jungle Testnet and Bifrost two-way cross-chain functionality in the CC3 Testnet Network. At the same time, the Bifrost DApp will be used in CC3 to complete the two-way cross-chain of EOS and bring a “new experience”.
EOS Jungle Testnet account creation and EOS Test Token pickup remains the same as in the CC2 Testnet, see the Bifrost Wiki for account and pickup procedures:
vToken (Voucher Token) exchanges have been added to the CC3 campaign for vKSM and vDOT exchanges. vEOS exchanges will not count towards the reward.
The Reward calculation rules will continue the rules in CC2, and the BNC rewards for this module will be shared according to the vKSM and vDOT balances. Test token KSM and DOT will be able to receive it in Telegram Faucet only when the incentive is turned on.
To avoid distracting testing efforts, the EOS two-way cross-chain incentive and vToken exchange incentive will open on September 30 and October 10 respectively. Please stay tuned for further announcements on specific participatio.
What is Bifrost ?
Bifrost is the DeFi project for PoS tokens, that include staking and liquidity both. It allows to get vToken for operations and delivering liqidity, plus you got staking rewards all the time your DOT, KSM,EOS or other token blocked by the smart-contract. You get reward from the Day 1 of nomination, without locking periods and can change your, for example, vKSM for KSM any time. BNC is the native token of Bifrost.
vToken can optimize transactions in multiple scenarios such as DeFi, Dapp, DEX, etc. When vToken is used as a collateral for lending, its staking income can offset part of the interest and realize low-interest borrowing.
With vToken you can hedge the risk of locked positions, DeFi & Staking double rewards and leverage Staking and other application scenarios.