The SALP function has been gradually launched, and the minting volume has exceeded 7600 KSM | Weekly Report 69

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Bifrost — One Stake, Endless Opportunities.

3 min readSep 23, 2021

Introduction

The SALP function is gradually being launched. It was upgraded through Runtime v0.9.0 in the referendum on 9/13, and SALP’s vsKSM & vsBond casting function was turned on. At the same time, Zenlink Slot Vault has also successfully connected to SALP, and the Zenlink Slot Vault uses SALP for slot bidding. Participating in Basilisk (closed), Calamari (closed) Altair and Kintsugi, not only can get slot auction rewards and corresponding derivatives vsKSM, vsBond, but also ZLK as an additional incentive. Acquired So far, more than 7,600 KSM have participated in the slot auction through SALP. With the improvement of SALP’s farming and trading functions, more assets will be derived through SALP.

Development

Bifrost Node & Runtime

Runtime released and upgraded v0.8.5 & v0.9.0 version
Securities Confirmation Service Compilation & Deployment
Liquidity mining code review
Deploy a Staging pre-production environment
Synchronize and improve documents
Salp rpc interface improvement of contribution status
Review the restructuring of flexible fees
Modify the salp process, including fund editing and batch refunds
Modify the ci&image process (#304) *The dependency of Zenlink has been forked.
Fix problems found during testing/code review
Synchronize with snowfork team and integrate with snowbridge
Support kUSD, BNC and Karura cross-chain asset interoperability
Fixed Kusama relay chain’s big gap between Finalized and Best blocks causing problems
Stress test salp-confirm-service signature competition & duplicate signature issues
Optimize the network bandwidth of each Bifrost node

Bifrost Dapp & Dashboard

Dapp & Dashboard add vesting_start_at logic
Add unlock vested amount
Settlement pop-up style optimization
Optimisation of browser-side storage of transaction records
Optimized link style
Language pack independence
Toast, Modal, Popover components optimization
Dashborad type debugging & upgrade
SALP API Service interfacing
SALP test case fixes
Farming module UI update & API interfacing & Type support
Bifrost.js update to v0.9.0
Polkadot dependency update
PolkaWallet support for KSM cross-chain transfers
vsbond-auction pending order, withdrawal test

Ecosystem

On September 13, the article SALP: Derivatives Opens a New Era of Parachain Auctions was published. The article deeply analyzed the operating principles and mechanisms of SALP, and at the same time analyzed vsKSM and vsBond based on SALP Crowdloan. Currently, SALP is online and is supporting the Kusama parachain auction of Altair and Kintsugi. Voting channel: https://bifrost.app/vcrowdloan
On September 16, the Bifrost slot liquidity agreement SALP was officially launched. On the day of the launch, it simultaneously supported Basilisk, Altair and Kintsugi slot auctions. Users who vote and stake for the above four projects through SALP will correspond to the casting derivatives vsKSM and vsBond, unlocking the liquidity of the staking.
On 17 September, Bifrost and Kintsugi (Interlay) announced a partnership to use SALP to facilitate Kintsugi’s second round of Kusama slot bidding, with Kintsugi (Interlay) registering Bifrost SALP to unlock slot bidding liquidity.
On 17 September, the Bifrost SALP protocol was integrated with the Zenlink SlotVault Dapp to provide users with the option to unlock liquidity in their crowdsourced stakes. Users can vote for Altair and Kintsugi crowdsourced loans through the ‘Advanced mode’ option in Zenlink SlotVault. This mode, integrated with SALP, casts vsKSM and vsBond derivatives (1 KSM = 1 vsKSM + 1 vsBond) to unlock staked liquidity while voting.

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 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.

Learn more about Bifrost