Bifrost SALP Supports Listen Kusama Crowdloan
In May 2022, Bifrost announced its support for the Listen Crowdloan on Kusama. Listen is a voice chat app based on Polkadot’s underlying blockchain technology. The core is group DAO, cross-chain economy, and voice round table. They are currently optimizing some complex functions of the App and voice chat.
In this integration, Bifrost will cooperate with Listen to help their Crowdloan participants access liquid derivatives of staked KSM, creating innovative solutions for users participating in the Kusama Crowdloan and competitive opportunities under the multichain development pattern.
Listen is committed to creating a SOCIALFI application based on the concept of Web3 in the Polkadot ecosystem through the built-in DAO Co-Building, management, and Live voice room in the WEB3 development, DAO self-asset management, and other functions for the future of DAO Empowerment.
Listen’s own CryptoDuck NFT collection will go live in a recently updated roadmap, providing a forward-looking feature for the DAO organization to release and manage its own NFT next.
We will open up more possibilities for the Polkadot community as we move forward through Listen.
Bifrost’s advantage is to mint fully decentralized liquid derivatives based on the Kusama Parachain. Support for the Listen Crowdloan will help Bifrost unlock a new opportunity with the Listen community to introduce the Slot Auction Liquidity Protocol (SALP) and encourage more users to participate in the Listen Crowdloan.
Bifrost uses a combination of Polkadot multi-signature + Kusama Parachain for the SALP. This innovative Crowdloan liquidity solution will allow users to increase capital utilization during the 48-week Crowdloan lock-up period and make choices about their risk appetite. Listen will assist Bifrost, provide technical support in the Crowdloan docking process, and promote the long-term cooperation between Bifrost and Listen.
The integration is in the first phase, and a final version will be released once Bifrost onboards as a Polkadot Parachain. The multisig will be represented by the onchain logic under the Bifrost SALP pallet, the same as the Bifrost SALP mechanism on Kusama. Learn more about how SALP will evolve to full decentralization.
Bifrost SALP now supports Listen Crowdloan. We welcome developers and users to contribute Listen Crowdloan and use the derivatives assets.
Contribute to Listen Crowdloan:
https://bifrost.app/vcrowdloan?tab=ksm
Listen Network Crowdloan Rules
Funds raised: 20, 000 KSM Reward: 1 KSM : 5,000 LT Reward pool: 100 million LT
● 30% of LT will be available when transfers are enabled.
● 70% of rewards will be linearly released within 48 weeks.
Early investors: Early investors will receive 60 million LT, locked for 1 year and released linearly.
**Contributors:**Contributors from Crowdloans will receive 100 million LT, 30% will unlock immediately, and 70% will be linearly vesting for 48 weeks.
R&D team: 500 million LT, locked for 2 years and released linearly.
Founding team: 500 million LT, locked for 3 years and released linearly.
Initial circulation: 30 million, circulation after one month: 75.55 million.
About Listen
Listen is a voice social software based on decentralized storage and blockchain technology data. A group is a DAO is our slogan.
Listen as a voice of social software different from other communication tools. Podcasting software is also additional. The social support acquaintances, including voice, images, text, and video, such as social practices, and social group in a stranger, use a similar round table in the form of BBS. The group manager can invite several guests. They also have the speaking right and join hands to Listen and talk to the rest of the room. At the same time can use the LT token to buy the speaking time. Almost all purchases will accumulate in the space below. Listen creates a unique experience that is different from a Feed stream. In a community of strangers, celebrities engage in voice discussions and audience interactions around topics.
About Bifrost
Bifrost is a Web3 derivatives protocol that provides decentralized cross-chain liquidity for staked assets. Leveraging the cross-consensus message (XCM) can provide cross-chain liquid staking services for multiple chains.
Bifrost’s mission is to provide standardized cross-chain interest-bearing derivatives for Polkadot relay chains, parachains, and heterogeneous chains bridged with Polkadot. Furthermore, by aggregating over 80% of PoS consensus chains’ staking liquidity through cross-chain derivatives, our protocol lowers users’ staking threshold, increases the multi-chain staking ratio, and improves the application of the ecosystem interest base by creating a three-way positive cycle for the StakeFi ecosystem by empowering users, multi-chains, and ecosystem applications.
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.
Website | GitHub | Telegram | Medium| Twitter | Discord | Forum
