Bifrost Mint Drop Ends with three Rounds Minted Successful, Weekly Report 44

Bifrost Finance
Mar 2 · 3 min read

Development

  • xToken cross-chain module access and testing
  • Interfacing with Zenlink Rococo local test network testing
  • Integration with vtoken mint incentive module
  • Integrating orml-tokens module
  • Write and test flexible fee module
  • bifrost-subql development
  • subql complete transaction log and vtoken apy
  • Optimized telegram faucet bot, used the official utility.batch to do batch processing of transfers, and added logic for multiple seeds to be used in rotation
  • Dapp data access
  • Separate language pack component
  • polkadot.js type upgrade and bugfix
  • Mint Drop added 1inch, SakeSwap, DODO entry
  • Replace vETH price acquisition with Uniswap Mid Price
  • Fix the problem of time difference between server time and user’s local time

Ecosystem

  • With the growing community, Bifrost has launched a series of videos Bifrost 101 on February 22nd to introduce all Bifrost lovers to the origins of Bifrost, what is vToken and Slash risk control security. In the first video, Why Bifrost, we will introduce why we use Bifrost and what problems Bifrost solves. Video details: Why Bifrost
  • The second round of Bifrost Mint Drop was opened on February 20. Compared to the first round of minting, the second round of minting successfully minted 5,000 vETH in only 12 hours, with 141 participating mint addresses, and the total cumulative total at the end of the second round of Mint Drop was 12,787.18494804
  • The third round of Mint Drop was opened at 2pm on February 26th(UTC+8), and the minting volume exceeded 60% within 10 minutes, reaching 3,000 ETH, and successfully minted 5,000 ETH within 28 hours, with a total minting volume of 17,788 ETH on the vETH chain and a locked position of 25 million USD.
  • The second article in Bifrost’s risk control series was released, analyzing the node production costs of PoW and PoS, which leads to the Staking and Slash mechanisms of ETH 2.0 and Polkadot. You can learn about Bifrost’s risk control measures to prevent Token and vToken from being subject to the Slash penalty mechanism, resulting in the loss of Staking principal, Details.
  • On February 20, 5,184 ETH multi-signature Deposit Staking processes prior to February 18, 2021 were made public, and subsequent Deposit operation records will be updated in the Bifrost Wiki. link to the Bifrost Wiki vETH minting history page: https://wiki.bifrost.finance/zh/public/veth-deposit-history.html
  • At 7pm on the 26th, Bifrost co-founder Lurpis was invited to join the AMA hosted by Blocklike to talk about the limitations and breakthroughs of liquidity in the DeFi. He expressed his views on DeFi, liquidity and Bifrost’s recent developments.

What is Bifrost?

Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for pledged assets to provide liquidity. It has launched a derivative vToken for Staking and Polkadot Parachain Slot (PLO). 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 PLO 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.