Bifrost Launches the Rainbow Boost Program: the first Raindrop Airdrops are coming soon!

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Bifrost — One Stake, Endless Opportunities.

3 min readMay 12, 2022

Introduction

We believe that Readable, Writable, and Ownable are the main features of Web3. Among them, “Ownable” is the most subversive feature compared with Web2.

In the Web3 ecosystem, holding a private key can give you direct access to your assets. The address is anonymous (well, we should say pseudonymous), so protocols and algorithms do not need to know who you are to provide financial, collective, or social services.

As Web3 continues its development, the addresses gradually become the user’s identity in the Web3 ecosystem, recording everything that involves a specific profile, from transactions sent to airdrop’s eligibility.

To give more value to this mechanism and award the most active and loyal users, Bifrost has launched the Rainbow Boost On-Chain Incentive Program. It will record and tag specific actions executed on the Bifrost chain from users’ addresses to accumulate their added value and provide a reference for the so-called Address Loyalty On-chain Identity (DID) Data to build a better community consensus.

Rainbow Boost & Raindrop

The Rainbow Boost is a system for tagging, crediting, and incentivizing the behavior of users on the Bifrost chain. Meeting certain behaviors during the Rainbow Boost program will award the addresses with a so-called Raindrop. The more active, loyal, and engaged a user is, the highest the Raindrop reward will be: This means that more privileges will be granted to the Bifrost community.

Bifrost will offer Token, NFT airdrop, whitelist priority, bonus, and other incentives to the top Raindrop holders, according to a schedule found on our social channels. Bifrost plans to use Raindrop as the value base of on-chain data for future cooperation with on-chain identity (DID) projects.

The long-term value of Raindrop

The core spirit of this blockchain is decentralization. It is openly fighting the monopoly interests, the exploitative economies, and the closed shareholder equity system in which we are currently living.

We want to give ownership of the network to our users, who take an active role in developing the network through fair rules based on verifiable on-chain behavior.

The more deeply involved users are in the network, the more value they tend to create for the network itself.

Bifrost is a decentralized protocol. Therefore, our Raindrop can also be recognized as a fair way to quantify the encouraged on-chain behaviors. Now, users who consistently generate value onchain, will earn more Raindrops and, in fact, more equities. This dynamic will eventually be reflected in the right to be part of the Bifrost Governance, meaning that our protocol will award those who are willing to provide long-term value as its owners.

The First Rainbow Boost

The first Rainbow Boost will be launched on May 16 at 10 am HKT. As time flies, this marks the first anniversary of the first Kusama Crowdloans, which took place last year.

Bifrost will be conducting a Raindrop airdrop for all the addresses who actively participated in the Kusama Crowdloans, funding one of the five-parachain projects: Karura, Moonriver, Shiden, Khala, and Bifrost.

On the airdrop list, all the addresses completed the Karura BNC Bootstrap as one of the first to support BNC transactions. A snapshot of these data has been done, collecting 21,365 addresses.

Details of the airdrop can be found in the Bifrost Dapp.

Along with its Staking Liquidity Protocol (SLP) & the first Rainbow Boost launch, Bifrost will also launch a vKSM minting incentive. During the Rainbow Boost, our platform will elaborate a marketing strategy with Karura, Moonriver, Shiden, and Khala to reward the first Raindrop holders with KAR, MOVR, SDN, PHA, and BNC Token.

More rules will be announced soon.

What is Bifrost

Bifrost is a Web3 derivatives protocol that provides decentralized cross-chain liquidity for staked assets. Leveraging the cross-chain message (XCM) can provide cross-chain liquid staking services for multiple chains.

Bifrost has raised over USD 2M from top-tier venture capital firms by NGC, SNZ, DFG, CMS, and other institutions. In addition to being an early receiver of a Web3 Foundation Grant, Bifrost is also a member of the Substrate Builders Program and the Web3 Bootcamp.