A parachain designed for staking liquidity

What is Bifrost?

Bifrost is a parachain designed to liberate Staking’s liquidity. It is hoped that Staking will make the cross-chain more colorful and interesting. Bifrost users can exchange PoS currency through the transfer bridge to vToken at any time. This results in Staking benefits and liquidity, optimizing PoS asset trading while preserving user governance and increasing the decentralization of the original chain.

As more and more public chains adopt the PoS consensus model, the Staking ratio and the number of nodes in the public chain have become important indicators for maintaining their security. The centralized and simple way to build a pool of funds to help users obtain Staking benefits, not only depriving users of the right to participate in governance will inevitably lead to the centralization of the original chain, increase security risks, how to lower the Staking threshold in a decentralized manner, provide Staking liquidity, and do not damage the governance structure of the original chain is Bifrost’s dedication solved problem.

Smart contracts are a viable option, but solving problems in the public chain of a support contract is not enough to provide sufficient liquidity for Staking. Fortunately, Polkadot has open sourced its development framework Substrate, which is the perfect breakthrough for smart contracts. Due to the limitations, Bifrost developed a parachain based on Substrate that is scalable and robust, and hopes to provide Staking mobility for 80% of PoS public chains.

What are the features of vToken?

1. Staking liquidity

vToken is a cross-chain asset issued by users based on Bifrost. With vToken, you can get staking income (anti-inflation). vToken can trade freely in different chains, mortgage lending, pay dapp, and sell at any time. Back to the original chain assets, no need to wait for UnStaking to release the time.

2. Low threshold participation in Staking

vToken is obtained through various channels such as redemption, DEX, wallet, dapp, and airdrop. Holding vToken means participating in the original chain Staking, obtaining revenue and retaining governance rights.

3. Original chain governance

The original chain assets converted into vToken are locked in Bifrost’s transfer bridge, and the staking proxy node takes the weight of the votes to perform the staking of the original chain nodes. Users can participate in the original chain management through BNC voting.

4. Developer ++

Ecology based on Bifrost’s wallet, mining pool, dapp, DeFi and other assets will obtain Staking gain from the bottom. For example, when vToken is used as collateral for borrowing, its Staking income can offset part of the interest and realize low-interest loans.

What are the participants in Bifrost?

1. Cross-chain user

Cross-chain PoS assets, obtain Staking income by holding vToken, redeem original assets and Staking income at any time, and participate in BNC mining and Polkadot parachain ecology.

2. Voting users

Use BNC to participate in the dequeue node, synchronization node, and Stake proxy node voting, and provide decision for the asset Staking to select the original chain target node, and obtain the node voting reward and bear the node drop or penalty.

3. Validator Node

The total number of votes is 30 nodes (tentative), which is responsible for the accounting processing of the full-chain user transactions and packing out the blocks, and obtains 10% of the user’s voting income.

4. Synchronization Node

Use BNC to participate in the dequeue node, synchronization node, and stake proxy node voting, and provide decision for the asset Staking to select the original chain target node, and obtain the node voting reward and bear the node drop or penalty.

5. Stake Proxy Node

It satisfies the condition of the block node, builds the node in the original chain of multiple PoS targets, and is responsible for accepting the stake proxy of the transfer bridge asset. It is a multi-chain professional node with strong comprehensive strength such as various mine pools, wallets and dapp.

6. vToken DEX

Providing liquidity for vToken, matching staking with un-staking users, Staking users earn un-staking to redeem users’ discounted earnings.

7. Development community

Based on the Bifrost layer 1, developers can develop applications such as wallets, mining pools, dapp, and DeFi to meet the original business demands and get staking gain.

Bifrost Roadmap

Bifrost is expected to release POC-1 for public testing from the end of October to mid-November.

2019 Q4

Test Network POC-1 & POC-2
Transfer bridge light node
Basic runtime module
Wallet
Blockchain explorer
Node monitoring station

2020 Q1

Test network POC-3 & POC-4
Single chain interoperable transfer bridge
BNC Economic System
vToken DEX online
Launch Mainnet

2020 Q2

Multi-chain interoperable transfer bridge
Developing ecological incentives
vToken open platform
Developer Tools & SDK
Access Polkadot Relay Network

2020 Q3

Carry multiple DeFi and derivatives
Provide liquidity for more assets
Create Bifrost DAO

Github https://github.com/bifrost-codes
Telegram https://t.me/bifrost_network
Medium https://medium.com/@bifrost_network
Facebook https://www.facebook.com/BifrostNetwork
Twitter https://twitter.com/bifrost_network

--

--

--

Bifrost is DeFi project for PoS tokens, that include staking and liquidity both. You can get vToken for operations + staking reward from the Day 1 of nomination.

Recommended from Medium

Introducing funded Omni Layer transactions or “how exchanges can save money”

FODL Weekly Market Update

Auto Swing-Trade with Grid Trading Bot!

Voting for Latium on Huobi — HADAX

Fiat Currency Vs. Cryptocurrency

Bifrost’s Event Season Officially Opened, Weekly Report 28

ABOUT PATRON DOGE…

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Bifrost Finance

Bifrost Finance

Bifrost Finance is a parachain designed for staking’s liquidity

More from Medium

Web3Go x Bifrost: Staking Dashboard to Track and Simulate Staking Schema in Bifrost Collator

How to Navigate the Aleph Zero Staking Menu

Crab and Moonriver are Now Connected: Token is Available as xcCRAB on Moonriver

Gauntlet and Acala Extend Partnership for Polkadot Launch