Bifrost SALP Supports the Ajuna Kusama Crowdloan
In May 2022, Bifrost announced its support for the Ajuna Network Crowdloan on Kusama. The Ajuna Network provides developers with a software development kit to simplify integrating blockchain assets into games developed with Unity and Unreal Engine. In addition, it enables entire game engines to be hosted in powerful, trusted execution environments linked to Polkadot/Kusama blockchains. For gamers, Ajuna Network will make decentralized games more responsive, graphically rich, and immersive. In addition, it will empower them to own their in-game assets, protect and control their functionality, and have a voice in the future of the games they love.
In this integration, Bifrost will cooperate with Ajuna Network 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.
Bifrost’s advantage is to mint fully decentralized liquid derivatives based on the Kusama parachain. By supporting the Ajuna Network Crowdloan, Bifrost will get the opportunity to introduce the Slot Auction Liquidity Protocol (SALP) to the Ajuna community and encourage more users to participate in the Ajuna 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. Ajuna Network will assist Bifrost, provide technical support during the crowdloan docking process, and promote long-term cooperation between Bifrost and Ajuna Network.
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 the Ajuna Crowdloan and welcomes developers and users to contribute to the Ajuna Crowdloan and use the derivatives assets.
Contribute to the Ajuna Crowdloan:
https://bifrost.app/vcrowdloan?tab=ksm
Ajuna Network Crowdloan
Supporters of Ajuna’s crowdloan will get rewards in BAJU, Ajuna’s primary utility token on Kusama. Gamers and developers will require BAJU to launch games and access network services on Ajuna’s Kusama parachain. Backers will receive a minimum of 110 BAJU for every KSM they stake. 10% of the total BAJU allocation, which equates to 5,000,000 tokens, is allocated to crowdloan rewards. All reward tokens will be distributed in the event of a winning bid, which means that if the crowdloan cap of 35,000 KSM is not reached, each backer could receive significantly more rewards than the minimum. In addition, backers can benefit from Ajuna’s early bird and referral bonus programs and receive exclusive NFT rewards. For full details, see this post.
About Ajuna Network
Ajuna Network is a Swiss-based decentralized gaming platform bringing blockchain gaming into the mainstream by integrating GameFi functionality with the world’s leading development engines, Unreal and Unity. Built on Substrate, Ajuna leverages the full potential of the Polkadot ecosystem to provide developers with a modular toolbox to add fully-featured GameFi functionality into their games easily. Ajuna’s ultimate goal is to create real value for gamers and developers by providing a fully interoperable, decentralized ecosystem for games and virtual goods.
What is 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.
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