Bifrost November Monthly Report

Technological Developments

  • Fixed the problems of vMOVR caused by the XCM encoding adjustments of Moonriver staking functions
  • Restricted user deposits before farming pools start
  • Optimized vFil staking functions in SLP module
  • Removed foreign asset from Bifrost Asset types
  • Upgraded dependencies of srtool-actions、ssh-agent、smallvec、env_logger
  • Implemented transfer_to and transfer_back function for vBNC in SLP module
  • Added some more checks and restrictions in vBNC functions of SLP module

Product

  • Bifrost Kusama and Bifrost Polkadot completed the opening of HRMP channels with Moonriver and Moonbeam respectively, and registered BNC and GLMR as cross-chain assets. Users can use bifrost.app to experience asset crossing and other operations.
  • Bifrost launched the first batch of parachain liquidity derivatives vMOVR and vGLMR. Based on the Bifrost ⇔ Moonriver, Bifrost ⇔ Moonbeam HRMP channels, users can use the Bifrost Dapp to transfer MOVR and GLMR to Bifrost and mint vMOVR and vGLMR liquidity derivatives while participating in mining, and the compound income they can obtain will be higher than the original chain staking income.
    vMOVR minting entrance: https://bifrost.app/vstaking/vMOVR
    vGLMR minting entrance: https://bifrost.app/vstaking/vGLMR
  • In November, Bifrost TVL totaled $54,132,207. Among them, the vKSM minted amounted to 237,050 KSM, and the vDOT minted amount exceeded 140,000 DOT.
  • Encrypt wallet multi-chain plug-in integrated wallet has supported Bifrost Kusama and Bifrost Polkadot. Users can easily complete Token recharge, transfer, purchase, history query or jump to Bifrost Dapp and other functions in the wallet.
  • Bifrost developers are conducting research and building XCM-based vToken cross-chain interoperability use cases. vMOVR, vGLMR, vKSM, vDOT, etc. are expected to realize the functions of remote calls initiated from the contract side, including cross-chain casting, redemption, exchange, and liquidation Wait. This use case is expected to be deployed between December 2022 and January 2023.

Operations

  • On November 1st, in conjunction with the third round of Kusama Crowdloan unlocking, Bifrost opened the vsToken redemption channel for contributors to the previous SALP support projects Picasso, Bitcountry and Quartz. Participating users can redeem the combination of vsKSM & vsBond for KSM, and then Participate in vKSM minting to enjoy staking + farming benefits.
  • From November 2nd to November 8th, Bifrost launched three LP farming pools, BNC-USDT, vDOT-DOT, vsDOT-vDOT. The three farming pools are long-term farming pools. Users can switch to the Polkadot network in bifrost.app and participate after adding liquidity.
  • On November 16, Bifrost Kusama and Integritee announced the opening of the HRMP channel between the two parties, and TEER token can enter the Bifrost Kusama network.
  • On November 21, after opening the HRMP channel with Moonbeam, Bifrost can transfer BNC to Moonbeam to become xcBNC, and GLMR can transfer to Bifrost Polkadot and mint it as vGLMR derivative assets. Currently, there are 134,142 and 1,517 GLMR and MOVR staked through Bifrost liquidity respectively.
  • On November 23, Bifrost participated in the Polkadot Community Call. Tyrone introduced the use cases of Bifrost and Moonbeam through XCM and some new developments in technology development.
  • On November 28th, Bifrost admin Thomas and growth manager Christian arrived in Lisbon to participate in the Polkadot Sub0 conference. On behalf of Bifrost, they better discussed XCM v3, OpenGov, Polkadot Fellowship and explored more possibilities of Polkadot with the participants.

--

--

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