Bifrost question-and-answer blitz Recap. What other news and upcoming plans does the Bifrost team have?

That means it’s time for a question-and-answer blitz! Four questions and four answers for our community! The questions will be answered by Tyrone Pan, Product Manager of Bifrost.

Tyrone Pan | Bifrost
Bifrost is a Substrate DeFi protocol focusing on building the cross-chain staking senarios and provide liquid-staking service for multichains. It generates staking derivatives for any blockchains, and its competitive advantage it has include cross-chain liquid-staking, derivative minting, liquidity accumulating in on spot on Bifrost parachain. And its special functions include remotely governance, intantly redeemption on the staking derivatives.

Tyrone Pan | Bifrost
Bifrost is currently supporting liquid-staking derivative minting for Moonriver, Moonbeam, Kusama, Polkadot, Ethereum and Bifrost itselfs. So holding the staking derivatives makes you have more chances jump into the yield of farming and cross-chain DeFi protocol to engaging with swap, borrwing and lending protocols, and leveraging senarios.

Tyrone Pan | Bifrost
Besides vToken can be utilized in farming, you can also participate in original chain’s governance by using vToken, which means vToken will be the voucher of original chain’s governance. Moreover, Bifrost will be easily integrate with EVM competible chains soon, which means users can engage with smart contract protocols efforlessly.

Tyrone Pan | Bifrost
We are recently focusing on building the XCM use cases between Dotsama parachain, EVM compatible parachain, and the EVM protocols. We are developing around XCM cross-chain governance by using the parachain native token derivative, which means leaving the governance feature for staking derivatives. On top of it, we are also creating remotely XCM function calling for cross-chain swap, liquidation, derivative minting, and interactions with any smart contract.

Thanks a lot for coming, Tyrone!

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