Bifrost and Moonriver new opportunities to earn! Step by step guide for GLMR and MOVR Liquid Staking, Minting and Farming on Bifrost!
Bifrost chose Moonbeam to leverage its underlying Parachain infrastructure and cross-chain integration to gain quick market access.
Moonbeam’s Ethereum-compatible smart contract functionality allows Bifrost to use familiar Ethereal tools, enabling swift market entry.
Bi-directional XCM transfers between Moonriver and Bifrost are open. With this connection, Bifrost provides something special for Moonbeam and Moonriver networks. Bifrost Announced the Liquid Staking Solutions for GLMR and MOVR Tokens.
As a part of Bifrost’s ongoing mission to provide interoperable cross-chain liquidity staking, a new product offering enabled by XCM integration with Moonbeam.
Now Bifrost users are able to stake their GLMR or MOVR and receive vGLMR and vMOVR as part of Bifrost’s SLP while also maintaining access to the liquidity of their staked position.
- Don’t need to think about validators. Bifrost’s algorithm chooses the best validators and provide the highest rewards.
- Short unbonding period
Liquid staking tokens vMOVR and vGLMR (vTokens):
- You can sell the vTokens and still receive staking rewards
- Provide liquidity using vTokens (the feature will be available on 27th November, 2022). There is no APR yet, but it’s expected to be more than 15% in the longterm.
- The total APY is up to 30%+
Join Bifrost vStaking now and the highest APY possible at the beginning of the program!
In the following video, you can see how to stake vMOVR tokens. Lets mint some vMOVR & vGLMR
The Staking Liquidity Protocol (SLP) allows Bifrost to solve the paradox between staking rewards and DeFi yields, the balance between token staking/circulating and security of PoS chains, and staking rewards in cross-chain scenarios. The tokens you provide in liquid staking simultaneously provide security for the network and can be used in the DeFi instruments and receive the DeFi yields, so YOU GET DOUBLE rewards!
Bifrost’s SLP enables: seamless liquidity release leads to high liquidity utilization, higher user rewards, and optimal utilization of staking assets in Proof-of-Stake blockchains.
Through the SLP, Bifrost activates and improves capital utilization and consensus security, promoting the staking governance token activity. vMOVR and vGLMR are the first parachain project derivative assets supported by the Bifrost SLP protocol and will experience the above SLP benefits.
The new integration to Moonbeam and Moonriver facilitates DeFi growth and enables Bifrost to expand its services, becoming a hub for cross-chain liquidity services.
Join the Moonbeam and Moonriver liquid staking on the Bifrost app https://bifrost.app/
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