Bifrost SALP Supports Polkadot Crowdloan for Unique Network!

In March 2022, Bifrost announced its support for Unique Network crowdloan on Polkadot. Unique Network is a scalable blockchain for composable NFTs and advanced economies on the Polkadot and Kusama ecosystems.

During this Polkadot crowdloan event, Bifrost will help Unique Network to give crowdloan participants access to liquid derivatives of staked $DOT (for example, vsDOT). This in turn will give extremely competitive opportunities to Bifrost users to participate in the Polkadot Crowdloan and contribute to the development of a Unique Network in the ecosystem.

Bifrost's mission is to inject liquidity to each of the assets locked between multiple chains and build a liquidity bridge across multiple, diverse chains.

Unique Network is the NFT Chain for the Polkadot Network. Unique Network is a scalable blockchain for programmable NFTs with advanced features.

Built with Substrate as a parachain on Polkadot Network, Unique unlocks unlimited potential for next-generation NFTs, truly advancing the NFTs beyond collectibles.

In November 2021, Unique Network’s canary network Quartz won a parachain slot on the Kusama network. Quartz has been live on Kusama and their minting and block explorer solutions are live as well and are heavily used by their community. Bifrost SALP also helped Quartz in its successful bid for Kusama Crowdloan!

Bifrost’s unique advantage lies in its capability to mint fully decentralized liquid derivatives — like vsKSM — on the Kusama Parachain.

The support for the Unique Network crowdloan event will introduce Bifrost's unique Slot Auction Liquidity Protocol (SALP) to the Unique community, encouraging more users to participate in their crowdloan and fundraising process.

Bifrost uses a combination of Polkadot and Kusama Parachain multi-signatures to support their SALP technology. This gives users an opportunity to maximize their capital utilization during the 96-week crowdloan lock-up period, and better manage their risk appetite when supporting different projects.

Unique Network and Bifrost will assist each other with technical support in the crowdloan docking process, and promote each other’s brands across both our community channels.

The integration is now in the first phase, but a final version will be released soon once Bifrost fully becomes a Polkadot Parachain. The multisig will be represented by onchain logic under the Bifrost SALP pallet, which will be the same as the Bifrost SALP mechanism on Kusama.

Learn more about how SALP will evolve to full decentralization.

Bifrost SALP for the Unique Network Crowdloan will be launched on March 14th, 2022, and developers and users are welcome to contribute DOT for Unique Network at that time.

Contribution: https://bifrost.app/vcrowdloan?tab=dot

Unique Network Crowdloan Rules

Unique Network has also announced additional bonuses for community activities.

For The Whitelist

  • You are a Chelobrick or a Substrapunk Holder
  • Participation in the Quartz Crowdloan or Unique Token Sale
  • Receiving the Polkadot Ambassador NFT from Unique Network
  • 5% Bonus Rewards

For the Creators

  • Participation in the MinFest
  • Sharing your collection
  • 5% Bonus Rewards

For Every Contributor

  • Receiving a referral link upon contribution
  • Sharing your link for referral bonuses
  • 5% bonus rewards as a referee and a referrer

Bifrost Contributor

  • Investors who contribute DOT to Unique Network via Bifrost SALP will receive a bonus of 0.04 BNC per DOT

Bonus Rewards — Super Supporters Program

Unique Network has also announced an additional bonus for large DOT contributions

  1. 10,000 DOT or more in contributions will be rewarded with an extra 15% reward in UNQ Tokens
  2. 100,000 DOT or more in contributions will be rewarded with an extra 30% reward in UNQ Tokens

Read All About Crowdloan Bonuses and Rewards

About Unique Network

Unique Network is an infrastructure for the next generation of NFTs. The first NFT chain for Kusama and Polkadot, Unique Network offers developers independence from high network transaction fees, dense upgrades, and siloed NFTs. The Unique Network team has partnered with numerous NFT projects in order to deepen the integrations needed to expand NFT use cases and usability, like Art Curator Grid, XP Network, UN-Habitat, and SupraOracles. Unique Network was responsible for Polkadot’s first NFTs, Substrapunks.

About Bifrost

Bifrost is the leading DeFi basic protocol living on the Polkadot ecosystem. Our mission is to become the go-to infrastructure to provide liquidity on staked assets. We’ve launched two flagship derivatives — vToken for staking, and Polkadot Parachain slot (Crowdloan).

The vToken is able to optimize transactions in multiple decentralized applications such as DeFi protocols and exchanges (dApp, DEXes, CEXes), and realize the value transfer from stake rights such as staking. Using Crowdloan through vToken also hedges risk from staked assets.

The vToken can also expand liquidity when used as a collateral for lending, as its staking reward becomes part of the interest and can be offset to achieve low-interest loans.

Bifrost raised $2.15M from top-tier venture capital firms of the likes of NGC, SNZ, DFG, CMS, the Web3 Foundation Grant, and other institutions. It’s also a member of the Substrate Builders Program and Web3 Bootcamp.

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