Deep Integration of Bifrost and Zenlink products, first liquidity derivative mining for slot auctions on the horizon
We are pleased to announce that Zenlink SlotVault, the “PLO as Mining” class of machine gun pools created by Zenlink, will be deeply integrated with SALP, Bifrost’s slot auction derivative solution, to provide the first liquid derivative for slot auctions mining product. By staking KSM/DOT on the Zenlink SlotVault DApp to participate in the Bifrost crowdsale, users will not only receive a variety of benefits including parachain tokens, but also unlock the liquidity of the KSM/DOT locked in the auction, maximising the benefits of the crowdloan!
SlotVault is a machine gun pool product created by Zenlink in conjunction with the Polkadot Slot Auction. The platform aggregates many parachain auction projects and other polkadot ecological projects, encourages cooperation between projects, forms a crowd lending support system, thus increasing the success rate of parachain slot auctions, and provides multiple token incentives for users to participate in the PLO process, bringing a “PLO as mining” experience. It also provides multiple token incentives for users to participate in PLO, bringing a “PLO is mining” experience.
The SALP protocol is the first slot bidding derivative protocol proposed by Bifrost, with the SALP protocol, Bifrost will unlock the liquidity of locked KSM/DOT in slot bidding by generating derivatives vsToken (vsKSM/vsDOT) and vsBond. SALP unlocks the liquidity of KSM/DOT in slot bidding by The Polkadot Cross-Chain Protocol XCMP creates derivatives completely decentrally, allowing users to participate in crowd-lending with security, trustless barriers, and unlocked liquidity, thus reducing opportunity costs.
SlotVault + SALP
Specifically, Zenlink SlotVault will add an entry point for all parachain projects that are live on the platform to participate in their crowdfunding through SALP, which will support all partner project owners in issuing crowdfunding stake derivatives vsKSM+vsBond, providing users with more flexible stake options, once Bifrost becomes an official parachain.
At the same time, the Zenlink DEX Module will be deployed on the Bifrost parachain and the vKSM/KSM trading pairs will be available on Zenlink as soon as possible, making it easy for users to complete the Contribute-Swap process in one stop.
The combination of Zenlink SlotVault and Bifrost SALP will also give birth to an innovative mining method that combines PLO mining with SALP derivatives mining, providing multiple benefits to users.
Zenlink is committed to building a new generation cross-chain DEX network. By integrating the Zenlink DEX Module, Zenlink can enable parachains to access DEX capabilities and share liquidity with other parachains quickly; Zenlink DEX aggregator can link all DEX DApps on Polkadot. Users can not only complete the exchange easily and quickly but also enjoy a low slippage transaction experience. ZLK, Zenlink native token, provides a fair and transparent governance mechanism and reasonable value capture methods, which can be used to motivate ecosystem users to participate in network development for a long time.
Zenlink is an important member of the Polkadot ecosystem and is sponsored by the Web3 Foundation. For now, two grants have been delivered successfully. Furthermore, Zenlink has also completed the prototype verification of cross-chain assets trading between Polkadot parachains at 2020–12–12 04:00:00 UTC, which means that the first cross-chain dex user case on Polkadot has been verified successfully based on Zenlink DEX Module and Assets Module.
What is Bifrost?
Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for staked assets to provide liquidity. Bifrost launched derivatives vToken for Staking and Polkadot Parachain Slot (Crowdloan). It has obtained $2.15M in fund-raising from NGC, SNZ, DFG, CMS and other institutions and Web3 Foundation Grant. It is also a member of Substrate Builders Program and Web3 Bootcamp.
vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, CEX, and realize the transfer channel of stake rights such as staking and Crowdloan through vToken, realize the risk hedging of stake assets, and expand scenarios such as vToken as collateral for lending, its staking reward part of the interest can be offset to achieve low-interest loans.