Kusama Crowdloan’s first liquidity release scenario vsKSM/KSM Trading is coming
Since the launch of the Bifrost SALP module, vsKSM has supported 8 projects in the Kusama Parachain auction, of which Bifrost, Basilisk, Kintsugi BTC, Picasso, Parallel Heiko, and Altair have closed Crowdloan and successfully won slots. Quartz and Country Pioneer are in the running and can participate in vsKSM minting via the bifrost.app
According to Bifrost’s Parachain data, vsKSM has accumulated 135,533.1816 vsKSM in total minting and reached a TVL of approximately $60 million.
Bifrost has partnered with the Zenlink team to adopt and integrate the Zenlink DEX module. As a result, the assets supported by Bifrost will also be open for Swap Pair in dex.zenlink.pro.
Substrate, as a composable blockchain development framework, brings great convenience to the ecology. Bifrost has reached in-depth cooperation with the Zenlink team, adopted and integrated the Zenlink DEX module. Therefore, the assets supported by Bifrost will also open Swap Pair in dex.zenlink.pro
The vsKSM-KSM Bootstrap will end on the 6th of November at 11 AM UTC (Bifrost block height 704,500). At that time, the vsKSM-KSM will be open for redemption, and vsKSM holders can realize the liquidity release of the Kusama slot bid via https://dex.zenlink.pro/#/swap.
Also, being a liquidity provider, you will be rewarded with a generous $ZLK & $BNC, please see https://forum.bifrost.finance/t/topic/1509
vsKSM Lightning Redemption Open
What is Lighting Redeem?
Lighting Redeem is the first Liquidity release scenario for users participating in the Bifrost vsKSM Mint Drop. Users with vsKSM & vsBond-Bifrost can Redeem KSM at a fixed 10% discount via the bifrost.app-vCrowldoan-Redeem module, for a total of 5614.72 KSM (136,816.20 KSM*5%) on a first-come, first-served basis. At the same time, the user’s vsKSM + vsBond-Bifrost will be destroyed.
Liquidity Exchange Rules
The Lighting Redeem Pool will be opened at 1 PM UTC on November 6th (Bifrost block height 704,500) and will release 30 KSM to the Redeem Pool every 7,200 blocks (approximately 24 hours) for vsKSM => One-way exchange of KSM’s liquidity will be released for 180 days in total.
NOTE: The pool is only open to users with vsKSM+vsBond (BNC).
vsKSM Farming Season
The Bifrost community was enthusiastic, as bifrost.app opened up the Kintsugi BTC and Parallel Heiko’s Early-bird Farming event for Kusama’s second batch of slots for bidding.
This time, we will open up 6 vsKSM Early-bird Farming Pools from Basilisk, Bifrost, Picasso, Bit.Country, Quartz by Unique and Altair, as follows.
Farming Pools will be opened in the order shown in the table, at a rate of 1,850 blocks (approximately 8 hours). The first Basilisk Farming Pool will be launched on the 6th of November at 1 PM UTC (Bifrost block height 704,500). Please, stay tuned.
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 the 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.
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