Proposal | Bifrost Kusama to transfer BNC across chains to Bifrost Polkadot

Since BNC is the common native token of Bifrost Kusama and Bifrost Polkadot, Bifrost assets will complete cross-chain interoperability through the Bifrost Kusama <> Bifrost Polkadot bridge in the next few months. The bridge is currently under construction, and BNC is the native token of the parachains, for the normal operation of the Bifrost Polkadot parachain, BNC is now transferred from Bifrost Kusama to Bifrost Polkadot in advance in a cross-chain manner.

Cross-chain to Bifrost Polkadot assets (total 14,601,000 BNC):

Polkadot Slot Auction Rewards:

  • Address: fohNDbDBG4jNBseQav9tcmoeuWjhZuH9CD5oCaSkkHy11FL
  • Balance: 11,000,000 BNC
  • Cross-chain: 11,000,000 BNC
  • New setting (minimum precision): 0

Collator Reserved Rewards:

  • Address: c3xCFsLRpqtDU4PoPRGS8eRvYmiCXbEuCzrGexnBe8pusLb
  • Balance: 3,200,000 BNC
  • Cross-chain: 1,600,000 BNC
  • New setting (minimum precision): 1,600,000,000,000,000,000 (reserve)

Foundation:

  • Address: dmTEFZ77m7WtJmd7PY6pMh111uTtW9jpwfwasTGsWKUGp5M
  • Balance: 2,730,167.4088572195 BNC
  • Cross-chain: 2,000,000 BNC
  • Fix total supply (minimum precision): 2,126,751 (free)
  • New setting (minimum precision): 730,167,408,859,346,216 (free)

Polkadot Sudo Reserve:

  • Address: cjAZA391BNi2S1Je7PNGHiX4UoJh3SbknQSDQ7qh3g4Aa9H
  • Balance: 1,042.69 BNC
  • Cross-chain: 1,000 BNC
  • New setting (minimum precision): 42,690,000,000,000 (free)

Cross-chain bridge address (controlled by code, no private key)

  • Address: djSk4JfeBVmDA6T4yuTZajjZGmn9h8hcSH1NE6mGE4UdFv3
  • New setting (minimum precision): 14,601,000,000,000,000,000 (reserve)
  • let treasury_derivative_account_id = bifrost_kusama_runtime::Utility::derivative_account_id(treasury_account.clone(), 42);

Cross-chain transfer steps:

  1. Bifrost Polkadot maps 80M BNC to the cross-chain bridge address (reserve status)
  2. Bifrost Kusama will initiate a proposal
  • Polkadot Slot Auction Rewards: 11,000,000 BNC balance.set_balance to 0 BNC
  • Collator Reserved Rewards: 3,200,000 BNC balance.set_balance to 1,600,000 BNC (reserve state)
  • Foundation: 2,730,167.4088572195 BNC balance.set_balance to 730,167.4088572195 BNC (free status)
  • Polkadot Sudo Reserve: 1,042.69 BNC balance.set_balance to 42.69 BNC (free state)
  • Cross-chain Bridge Reserve: 0 BNC balance.set_balance to 14,601,000 BNC (reserve state)

3. Bifrost Polkadot transfers the corresponding BNC from the cross-chain bridge address to the corresponding address (total 14,601,000 BNC)

4. When the Bifrost Kusama <> Bifrost Polkadot transfer bridge pallet goes live, the cross-chain bridge address reserve state amount will be changed to the free state through balance.forceUnreserve

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Bifrost Finance

Bifrost Finance

Bifrost Finance is a parachain designed for staking’s liquidity