Bifrost Now Supports the Nodle Crowdloan
Bifrost SALP (Slot Auction Liquidity Protocol) now supports the Nodle Crowdloan with the first-ever $vsDOT Farming!
| The crowdloan is live at https://bifrost.app/vcrowdloan!
We are pleased to announce that Bifrost, the Polkadot Ecological DeFi basic protocol is now supporting the Nodle Crowdloan. Bifrost is committed to providing liquidity to locked assets between multiple chains and establishing a liquidity bridge between heterogeneous chains.
During the Nodle Crowdloan event, Bifrost will cooperate with Nodle to help crowdloan participants access liquid derivatives of staked $DOT, creating innovative solutions for users participating in the Nodle Crowdloan and competitive opportunities under the multi-chain development pattern.
Bifrost’s advantage is to mint fully decentralized liquid derivatives based on the Kusama Parachain, and provide rich derivatives use cases for contributors participating in the Nodle crowdloan, including derivative farming, liquidity mining, swaps, and cross-chain token swaps. Bifrost is introducing the Slot Auction Liquidity Protocol (SALP) to encourage more users to participate in the Nodle crowdloan.
Bifrost uses a combination of Polkadot multi-signature + Kusama Parachain for the SALP, to provide a more complete experience for the Nodle crowdloan. This innovative crowdloan liquidity solution will give users the opportunity to increase capital utilization during the 96-week crowdloan lock-up period.
Bifrost SALP for the Nodle Crowdloan has already launched on https://bifrost.app/vcrowdloan.
SALP mining on Nodle Crowdloan
Bifrost is supporting the Nodle Crowdloan with a 9-day duration, 20,000 BNC Farming pool which started on December 16th. All contributors though SALP will be able to deposit vsDOT & vsBond-Nodle into the pool and join BNC farming. Bifrost will announce more details soon.
Bifrost is the Polkadot Ecological DeFi basic protocol, and is committed to becoming an infrastructure for pledged 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 the Substrate Builders Program and Web3 Bootcamp.
vTokens can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, CEX, and realize the transfer channel of pledge rights such as staking and Crowdloan through vTokens, realize the risk hedging of pledge assets, and expand scenarios such as vTokens as collateral for lending, its staking reward part of the interest can be offset to achieve low-interest loans.
Learn more about Bifrost: https://bifrost.finance/
About Nodle Network
Nodle is a decentralized IoT (Internet of Things) network on Polkadot providing secure, low-cost connectivity, and data liquidity to connect billions of IoT devices worldwide. The Nodle network is powered by millions of Bluetooth-enabled smartphones that earn Nodle Cash (NODL). Nodle’s powerful IoT stack allows multiple uses including connecting and securing physical assets, tracking lost or valuable items, capturing sensor data, and authenticating security certificates. Nodle provides insights for consumer electronics manufacturers, enterprises, smart cities, the finance industry and more. Since its creation in 2017, Nodle has become one of the world’s largest wireless networks by number of base stations. Join #TheCitizenNetwork by downloading the Nodle Cash app for iOS or Android.