Imbue Partners With Bifrost
In June 2022, Bifrost announced its support for the Imbue Crowdloan on Kusama. Imbue Network is a decentralized crowdfunding DAO built on the Polkadot blockchain platform. It is an idea incubator open to the entire world that allows anyone from any walk of life and any endeavour to submit and vote on ideas worth funding from the communities that believe in them the most.
In this integration, Bifrost will cooperate with Imbue to help their Crowdloan participants access liquid derivatives of staked KSM, creating innovative solutions for users participating in the Kusama Crowdloan and competitive opportunities under the multichain development pattern.
Imbue brings real-world impact to people’s lives, dismantling the popular criticism that web 3.0 lacks utility. By leveraging the power of the Polkadot ecosystem and the Substrate Framework, anyone can initiate a proposal along with how much funding they feel they need. Initiators then define deliverables as milestones and split up the total amount of funding between their milestones (e.g., 10% for the first milestone, 30% for the second milestone, 40% for the third milestone, etc.).
Bifrost’s advantage is to mint fully decentralized liquid derivatives based on the Kusama Parachain. Support for the Imbue Crowdloan will help Bifrost unlock a new opportunity with the Imbue community to introduce the Slot Auction Liquidity Protocol (SALP) and encourage more users to participate in the Imbue Crowdloan.
Bifrost uses a combination of Polkadot multi-signature + Kusama Parachain for the SALP. This innovative Crowdloan liquidity solution will allow users to increase capital utilization during the 48-week Crowdloan lock-up period and make choices about their risk appetite. Imbue will assist Bifrost, provide technical support in the Crowdloan docking process, and promote the long-term cooperation between Bifrost and Imbue.
The integration is in the first phase, and a final version will be released once Bifrost onboards as a Polkadot Parachain. The multisig will be represented by the onchain logic under the Bifrost SALP pallet, the same as the Bifrost SALP mechanism on Kusama. Learn more about how SALP will evolve to full decentralization.
Bifrost SALP now supports Imbue Crowdloan. We welcome developers and users to contribute to Imbue Crowdloan and use the derivatives assets.
Contribute to Imbue Crowdloan: https://bifrost.app/vcrowdloan?tab=ksm
Imbue Network Crowdloan Rules
Reward: 1 KSM : 50 IMBU
Main reward: Whitelist to the $IMBU presale
Hard cap: 15,000 KSM
Your sale price/vesting/lock period is determined by how much you contribute to the crowdloan.
More details on the sale can be found here
About Imbue Network
Imbue Network is a decentralized crowdfunding DAO built on the Polkadot blockchain platform. It is an idea incubator open to the entire world that allows anyone from any walk of life and any endeavour to submit and vote on ideas worth funding from the communities that believe in them the most.
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