Bifrost Finance is honored to announce that Kraken, the largest cryptocurrency exchange by euro trading volumes, will support Bifrost’s Kusama parachain crowdloan — enabling Bifrost to appeal to a much broader range of blockchain contributors around the world. Kraken’s clients will be able to directly contribute to the Bifrost crowdloan, without having to leave the exchange.
As one of the Polkadot ecosystem’s earliest projects, Bifrost will participate in the first Kusama parachain auction.
Before Parity officially announces the official start of the Kusama slot auction, more than 7 days will be reserved for Kusama holders to complete the unstake in advance of the first slot auction. At that time, Kusama holders, including Kraken clients, will be able to participate and receive distributed rewards through Kraken. Outside of Kraken, Kusama holders can also support Bifrost’s crowdloan through the Bifrost vsKSM Mint Drop.
What is Bifrost?
Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for staked 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 stake rights such as staking and Crowdloan through vToken, realize the risk hedging of stake 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.