SakeSwap teams up with Bifrost, a Polkadot ecosystem DeFi protocol, to bring vETH into BSC ecosystem
SakeSwap is pleased to have Bifrost, a Polkadot ecosystem DeFi protocol, as our partner.
SakeSwap provides bridge support for Bifrost to connect Ethereum with BSC ecosystem. Users from Bifrost community can transfer their vETH which is the Staking derivative of ETH 2.0 to BSC through the SakeSwap bridge solution, and get involved in the BSC DeFi ecosystem.
SakeSwap is successfully deployed on BSC testnet. And it is planned to migrate to BSC within one week. SakeSwap will be the only AMM DEX with Slippage Capture feature on BSC.
What is Bifrost?
Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for pledged assets to provide liquidity. It has launched a derivative vToken for Staking and Polkadot Parachain Slot (PLO). 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 pledge rights such as staking and PLO 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.