SHORT ABOUT: BIFROST NETWORK
So, if you are definitely confused who is who in Polkadot network rapidly growing ecosystem — have a look at our short cards.
What is Bifrost: Bifrost is the DeFi project for PoS tokens, that include staking and liquidity both. Bifrost is a Polkadot Parachain candidate. It was granted by Web3 Foundation and also is a member of the Substrate Builder Program.
What can be used for: Bifrost users can exchange stacked assets (f.e. DOT or KSM) through the transfer bridge to vToken (i.e. vDOT, vKSM) to get Staking Reward and Liquidity. After the Bifrost mainnet is officially launched, the first phase will open KSM, DOT staking and vKSM and vDOT exchange. The exchange of ETH, EOS, IOST and vToken (vETH, vEOS, vIOST) will also be opened in the future.
With vToken user can hedge the risk of locked positions, DeFi & Staking double rewards and leverage Staking and other application scenarios.
vToken can be purchased directly from wallets, exchanges (CEX & DEX). In addition, users can swap vTokens by downloading the Bifrost Dapp after the official launch of the Bifrost mainnet
What problem solves:
- lower the Staking threshold in a decentralized manner,
- provide Staking liquidity without damaging of the original chain governance structure.
Native token: BNC.
BNC mainly played an active role in staking rewards and handling fees, deposits for voting rights bidding, and governance tools. Total supply: 80,000,000. Now can be earned only with activity rewards (see below).
Evolution stage: Asgard CC2 testnet (with test token ASG) ended on August 21th. New testnet version planned to be launched at September 21th.
How to buy BNC?
BNc is not listed on any exchange yet. Exchange listing is planned after Bifrost mainnet launch. Mainnet will be launched in Q4 2020.
What about privat sale?
Bifrost private sales 2 is onging. To be informed stay tuned to official channels.
Incentives and rewards: Asgard CC2 event ended on 21th of August, rewards for participants can be found here: https://rewards.bifrost.finance/
Asgard CC3 will be announced.
Beside this Bifrost launched “Long Term Contribution” program, that includes bug hunting, code and blog contributings, local community building and Wiki translations. Rewards are up to 500 BNC.