The multisig test has reached the final stage, and vETH will generate staking reward, Weekly Report 35

The vETH Mint Drop for ETH 2.0 staking derivatives has been officially launched for two weeks. At present, the total airdrop is 19,321 BNC, and the remaining 80,678.7232 BNC is pending. According to the current vETH minting amount, every 100 vETH minting amount can get about 49 BNC rewards per day. As of today, the amount of ETH 2.0 staked on the entire network is approximately 1,415,105 ETH. According to the ETH 2.0 staking rate calculation, ETH participating in staking can obtain an annualized yield of about 13.2% with low risk.

The deployment and testing of the multisig Deposit process has been completed this week, and the decentralized staking of ETH that will be minted has reached the final stage. The ETH 2.0 staking operation completed through multisig will be completed today to provide vETH holders with about staking At the same time, vETH minting is compatible with more wallet protocols and decentralized transaction scenarios to provide a more convenient vETH minting channel.

Development

  • Flexible transaction fee module
  • Update subxt patch is compatible with the latest substrate
  • vToken mint incentive module test completed
  • Voting bid market module development

(1) Limit number of bids
(2) Bidding order cancellation
(3) After the user reduces the vToken, the insufficient amount is forcibly deducted from the minimum ROI transaction order
(4) If supply is added to vToken in the current ERA, the forced deduction transaction order can be automatically restored

  • Code review TokenSwap module
  • Synchronize Substrate & cumulus development progress
  • Optimize Bifrost code structure
  • PLO Liquidity UI/UX Design
  • MintDrop development

(1) Support WalletConnect protocol
(2) Research on upgradeable contract scheme
(3) Automatic exchange rate modulation mechanism configuration
(4) Unit test writing
(5) Multisig and BLS threshold signature integration
(6) Multisig Deposit process deployment and testing

Ecosystem

  • On December 9th, Lichang and Bifrost held the 86th community AMA “How to Get Staking Rewards Without Locking In ETH 2.0” to share the introduction of Bifrost and the recent Bifrost coin mining activities.
  • On December 10th, Bifrost product manager Tryone was invited to participate in the Hoo Telegram community AMA Speaking. At the meeting, he shared a series of topics such as Bifrost Staking liquidity and vETH MintDrop with followers. AMA Recap:
    https://medium.com/@Hoo_exchange/hoo-bifrost-telegram-ama-recap-d974be74553b
  • On December 10th, Bifrost participated in the DeFi Fever Resource Docking Summit hosted by Blocklike and shared Bifrost’s latest developments and cooperation needs.
  • On December 11, “Golden Theory of Relativity”, interpreting Polkadot’s cross-chain milestone-slot auction, during the meeting, we will discuss with Polkadot’s other ecological partners Acala, Phala, Stafi on whether Polkadot’s cross-chain milestone can be Opened smoothly.
  • Bifrost WiKi updates a series of AMA content such as Chain Tea House, DeFi Go, Planet Daily, and Golden Decoding. The reward distribution records and activity records during the event can be found on the Bifrost Wiki. Review the details:
    https://wiki.bifrost.finance/en/news/ama-25.html
    https://wiki.bifrost.finance/en/news/ama-26.html
    https://wiki.bifrost.finance/en/news/ama-27.html
    https://wiki.bifrost.finance/zh/events/finished/event-23.html
  • From December 19th to 20th, Bifrost will attend the Hangzhou Substrate Hackathon hosted by DoraHacks to jointly explore potential projects and teams to find future stars!

What is Bifrost ?

Bifrost is a Polkadot Ecosystem DeFi infrastructure protocol that aims to become an infrastructure for providing Staking liquidity, and currently offers a derivative vToken for Staking and Polkadot Lease Offering (PLO). It is also a member of the Substrate Builders Program and Web3 Bootcamp. vToken can optimise transactions in multiple scenarios such as DeFi, DApp, DEX and CEX.

vToken can optimise transactions in multiple scenarios such as DeFi, DApp, DEX and CEX. vToken can be used to realise the transfer channel of governance right such as Staking and PLO to hedge the risk of Staking assets. In extended scenarios such as when vToken is used as collateral for lending, the staking proceeds can offset part of the interest and realise low-interest lending.

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