Monthly Report | Surf’s Up is going on, Bifrost TVL breaks $110,000,000

Development

Bifrost v0.10.0

• Launched BNC 2.0 related Pallet
• Upgraded Polkadot 1.6 dependency
• Upgraded XCM derived address rules
• Removed bounty & tips pallet

Dapp 1.9.0

• Added feature to hide swap pools with low liquidity
• Added user address redemption limit display & public queue display

Omni LS 1.0.4

• Supported vMANTA minting on Manta Pacific

Products

In May 2024, the total TVL for Bifrost reached $114,915,405, marking a modest progress over the last month.

• The total vDOT minted (TVS) this month was 9,139,611.
• The TVS of $vMANTA exceeded 3,825,436, with the total locked value (TVL) surpassing $6.9M, reflecting a monthly growth of 386%.

Governance Update

• Bifrost announced specific details of the Fellowship Program, aiming to open applications for Fellowship members and expand the decentralization of OpenGov governance. By introducing multi-track professionals into the Fellowship, Bifrost referendums will receive multifaceted professional advice to support the long-term development of the protocol. Read the full document here.

vToken Usecases

• Bifrost is promoting the registration of vGLMR, vFIL, and vMANTA assets on the Astar network to enrich the supported networks of various vTokens in omni.ls. Proposal discussions are currently underway.

Wallet Integration

• Bifrost has completed integration with Polkadot’s multi-signature wallet, Mimir. Users can visit the Mimir App, create a multi-signature account, select the Bifrost network, and perform any operation using their multi-signature address. Follow the tutorial here.

Marketing

Campaigns and Events

• Bifrost launched a week-long event on the Airlyft platform to promote using multi-signature wallets to mint vDOT. Users who complete the specific tasks will have a chance to share a reward of 400 $BNC.
• The Bifrost team attended the largest cryptocurrency event in southern Italy, sharing with the audience the best ways of liquid staking in the Polkadot ecosystem.
• Bifrost Council member Tyrone was invited to participate in a Twitter Space event organized by Odaily, sharing how to mint vMANTA on Manta Pacific and discussing more use cases for vMANTA.

Partnership

• Bifrost joined the Manta Surf’s Up event, providing more use cases for vMANTA within the Manta Pacific ecosystem, offering users more choices to capture value.