Introducing the BIFROST Ecosystem Kickstart Initiative
The BIFROST Incentivized Testnet (BIT) came to a successful end last month and we would like to thank all our participants for their active contribution and continued support which allowed us to construct a realistic test environment. Through the various cases presented during the BIT, we were able to effectively improve the stability of the system and prepare for our mainnet. Now, we would like to introduce the Ecosystem Kickstart Initiative, a new measure to facilitate the BIFROST ecosystem.
One of our main goals is to support various decentralized services for their quick and easy entry into the BIFROST ecosystem. The Ecosystem Kickstart Initiative is the first step to achieving this goal. Through this new program, we will not only provide the necessary tools and environment for developing decentralized services but also reward the efforts of those participating in our ecosystem. Any service can become the Uniswap, PancakeSwap, Compound, or Axie Infinity of the BIFROST Network. Join us today!
What are DApps?
DApps (Decentralized Applications) refer to services that operate through smart contracts on blockchains. They provide various services to their blockchains and help enrich their respective ecosystems. The increase in the number and activity of DApps leads to an increase in the inflow of users as well as liquidity into blockchains as observed in the cases such as Optimism and Arbitrum. Ultimately, DApps vitalize blockchains and contribute to creating a healthier ecosystem.
About the BIFROST Network
As the BIFROST Network is a permissionless EVM-compatible layer-one blockchain utilizing Substrate technology focused on enabling interoperability between blockchains, it provides the ultimate environment to build multichain DApps. For instance, the network allows one to purchase a BSC-based NFT using USDT on Ethereum.
BFC is the native token of the BIFROST Network which is a generalized message-passing system that is well-suited for all types of cross-chain applications. By design, it can operate with native tokens that inherit the security of the underlying network. The network allows developers to easily build cross-chain applications, such as a cross-chain DEX service using native assets.
The BIFROST Mainnet will provide all the necessary tools and documentation to support new DApps on the network. The following services will be supported.
- Advanced bridge infrastructure
- Natively support multiple chains with various assets: support for BTC, ETH, AVAX, BNB, and more
- Automatic asset return in cross-chain transfer
- Price Oracle: a reliable, proprietary oracle exclusive for BIFROST
- BIFROST Explorer: block scanner for BIFROST Network
- Biport: multichain wallet with MetaMask compatibility
- Access to BiFi, BiFi-X, ChainRunner, Owly
- BMall: NFT Marketplace
If in need of additional support, please make sure to reach out to us via our official Discord and our team will happily assist you.
Evaluation and Reward Distribution
Onboarded DApps will be evaluated based on their performance. Final scores will be calculated at the end of the program and each DApp will receive rewards according to the score ranking. Overall performance will be scored according to the following criteria.
- Number of transactions incurred (testnet and mainnet)
- Ease of use
- Contribution to the blockchain ecosystem
As you can see, early participants are likely to have an upper hand in terms of transactions. Deploying a DApp on the testnet is also a good way to test the service’s potential performance on the mainnet. However, DApps creating transactions with any malicious intention will be disqualified.
A total reward of $100,000 has been allocated for this program. We encourage your participation as it’s not a winner-take-all system! Details about rewards and the scoring system will be revealed in the coming week.
Start date: 5 December 2022
End date: 15 March 2023
Please apply via this link.
We look forward to receiving applications from DApp developers. The opportunity to become a member of a promising new ecosystem awaits. Join us to become the BIFROST superstar!