Reward Climbs to 200%, Bifrost Launches Parachain Auction Sprint Program

Bifrost Finance
Jun 29 · 4 min read

Parachains are dedicated blockchains connected to and protected by Polkadot or Kusama relay chains. Parachains will benefit from the security, scalability and interoperability of this multi-chain architecture. With the implementation of parachain on Kusama, the promise of blockchain to become the infrastructure of Web3.0 is one step closer to reality.

After the first two slot auctions, Kusama has 3 of the first 5 parachain slots left. The auction has entered a fierce stage. So far, Bifrost has obtained 3,834 addresses from 10 countries, with a total of 24,592.2447 KSM contribution, of which 826.4564 KSM is reserved for Bifrost SALP’s first round of liquid asset reserves.

In order to accelerate the launch of the Bifrost parachain, enable BNC transfers, and open up the bonding liquidity of the subsequent Kusama parachain bidding project parties as soon as possible, Bifrost decided to double the parachain auction rewards. The detailed rules are as follows:

Limited time for double rewards

Total reward: 3,000,000 BNC
Limited time reward ratio: 1 KSM: 22+ BNC
Unlocking period: TGE 50%, the remaining part will be released linearly within 48 weeks

What about returns?

It can be seen that the APY of incentives is expected to grow several times higher than the APY of Staking as the market cap of Bifrost increases.

Additional benefits for Kanaria bird owners-NFT collectibles

If you vote for Bifrost Crowdloan at least 10 KSM (excluding centralized channels), and own or obtain a Kanaria bird NFT in the future, you will be able to use the Kanaria bird to claim a Bifrost Kanaira exclusive equipment with high rarity in RMRK (The same bird cannot be claimed a second time). For more details, please refer to: https://kanaria.rmrk.app/?ref=bifrost

How to deal with KSM market fluctuations?

Auction participation channels

1. Bifrost official participation channel: vsKSM Mint Drop

The vsKSM Mint Drop participation page integrates Bifrost’s original parachain bonding liquidity protocol SALP. Participate in voting to obtain vsKSM and vsBond derivatives, which can be used to unlock liquidity during the bonding period.

Participating address: https://ksm.vtoken.io/

Check the minting tutorial here: https://www.youtube.com/watch?v=O1CTi9G2S60

2. Kusama official parachain Crowdloan

Bifrost will create Bifrost-Kusama-Crowdloan before 2021–6–15, and users can participate directly through the Kusama relay chain.

Participating address: https://polkadot.js.org/apps/#/parachains/crowdloan

3. Multi-participation channels

Bifrost has already reached Crowdloan support channel cooperation with many project parties, wallets and decentralized exchanges.

Decentralized wallet: Bifrost cooperated with Fareless Wallet, Math Wallet, etc. to support Bifrost parachain auctions on the mobile side.

Centralized exchange: Kraken / OKex / Kucoin / MXC / Gate will support Bifrost Parachain Crowdloan.

vsKSM Mint Drop has aggregated all participating channels: https://ksm.vtoken.io/

What is Bifrost?

vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, CEX, and realize the transfer channel of pledge rights such as staking and Crowdloan through vToken, realize the risk hedging of pledge 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.

Learn more about Bifrost

Bifrost —  DeFi for PoS. Staking and Liquidity.

Bifrost - DeFi for PoS. Staking and liquidity. Get your vToken + staking reward.

Bifrost —  DeFi for PoS. Staking and Liquidity.

Bifrost is DeFi project for PoS tokens, that include staking and liquidity both. You can get vToken for operations + staking reward from the Day 1 of nomination.

Bifrost Finance

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Bifrost Finance is a parachain designed for staking’s liquidity

Bifrost —  DeFi for PoS. Staking and Liquidity.

Bifrost is DeFi project for PoS tokens, that include staking and liquidity both. You can get vToken for operations + staking reward from the Day 1 of nomination.