vETH Multisig Deposits History

vETH minting refers to the process in which users invest an amount of ETH to participate in Ethereum2.0 staking and obtain the corresponding vETH. After the token is minted, users can sell vETH at any time to get liquidity using a DEX. More information can be found here: vETH Minting.

vETH will be divided into four stages to achieve complete decentralization. It is currently in the second stage of development. The ETH invested by users will be put directly into the official Ethereum 2.0 deposit contract to complete the staking operation. This operation process is transparent and open, but the smart contract call process is more complicated. Contracts are called on four levels:

The batch deposit contract is upgradeable, and a layer of the proxy contracts encapsulates it. There is a ‘worker account’ in the batch deposit contract, which can be replaced by a multi-signature operation, specifically used to store deposit parameters on the chain. The workers role is currently played by Bifrost. After the worker fills in the parameters, they can initiate another transaction that triggers the deposit; after multiple partners have signed and approved it, the ETH invested by the users will be deposited into the Ethereum 2.0 official staking deposit contract.

The parameters filled in by Bifrost are currently provided by InfStones and Ankr, respectively, and are checked and confirmed by InfStones and Ankr before multi-signature approval. After each multi-signature operation is completed, the deposit transaction information will be publicly available in the community, allowing users to check their corresponding transaction information through Etherscan. Via this information, the actual staking income can be queried and calculated. Before the Bifrost mainnet goes live, staking proceeds will be issued in the form of ERC20-vETH. And after the Bifrost mainnet goes live, all ERC20-vETH will be mapped to the Bifrost mainnet, and the subsequent staking income will be reflected in the token price adjustment formula, see Bifrost whitepaper.

Multi-signature participants

The current parameter configuration is that any 3 of the 5 participants sign the deposit operation will take effect.

Multi-signature platform:

MintDrop contract:

vETH minting history

(last updated on 2021–02–18, the total deposit amount is 162 x 32 = 5184 ETH)

1 deposit (InfStones’s first test)

9 deposits (InfStones)

10 deposits (InfStones)

27 deposits (InfStones)

1 deposit (first test by Ankr)

14 deposits (Ankr)

50 deposits (InfStones)

50 deposits (InfStones)

Subsequent Deposit operation records will be updated in the Wiki.

Wiki link:

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.



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.

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