Review | Bifrost Collator Public Beta Ends, Coming Soon to Mainnet BNC Staking
In order to realize the decentralization of the collator operation, Bifrost will open the access of the Collator and launch the BNC staking module of the mainnet. Before that, we have launched the public beta of Collator. The public beta began on February 24 and ended on March 11. The safety and stability of the collator have been fully tested.
Collator data review
With the completion of the Bifrost Collator public beta, we have completed a series of data statistics, including collator, delegator, and BNC (Testnet) faucet collection. By counting the data, we can observe the security and stability of node operation and block production.
Many Stacking providers, including but not limited to HashQuark, InfStones, Staking Facilities and Wetez, participated in the public beta. The data results are published as follows.
During the collator public beta from February 24 to March 11, 63 Collators were successfully created. With the release of the number of active collators at different stages, registered Collators have been successfully elected as nodes, and new registered Collators have been added to the waiting list. As of 10 am on March 11 (UTC), the number of active Collators has reached 64, and there are 8 Collators on the waiting list.
Collator LSVT obtains, 32590.70 BNC (Testnet) at most. In terms of revenue, Collator HashQuark07 achieved an annualized revenue of up to 45.76% during the public beta period. For delegator, a total of 7047 addresses participated in BNC (Testnet) Staking, with total staking of 641377.11 BNC (Testnet).
Collator public beta reward distribution
During the public beta of Collator, Bifrost’s prize pool is, 20000 BNC (Mainnet), of which 40% is divided by Collator participating and 60% by delegator participating in the public beta. The specific division of the prize pool is determined according to the number of BNC (Testnet) obtained through the following events during the public beta:
- Collator: Active collator’s block reward, active collator’s own bonding
- Delegator: Delegated active collator
Input ! rank < BNC address > in Bifrost faucet, then you can query the expected rewards of BNC participating in the ranking.
The 20,000 BNC (Mainnet) reward for the Collator public beta is expected to be completed by Bifrost by March 15. It will be sent directly to the winning user’s participating Bifrost Collator address. No manual claim is required. Join the Bifrost Discord or Telegram to be the first to know about distribution announcements.
Bifrost Discord：https://discord.gg/fqY6DMNy3k
Bifrost Telegram：https://t.me/bifrost_finance
The Collator public beta is aimed at testing the security and stability of the nodes and blocks, preparing for the opening of Collator registration and decentralization of the block collection process. Bifrost will also go live with the mainnet Collator in the near future, opening the mainnet BNC Staking!
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 can 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 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 like NGC, SNZ, DFG, CMS, the Web3 Foundation Grant, and other institutions. It’s also a member of the Substrate Builders Program and Web3 Bootcamp.
Learn more about Bifrost or join our incredible community of over 100,000 members strong!
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