Zenlink SlotVault Deeply Integrated with Bifrost SALP to Provide First Liquidity Derivatives Mining Product for PLO
We are pleased to announce that Zenlink SlotVault, the “PLO as Mining” smart pool product built by Zenlink, will be deeply integrated with SALP, the Bifrost’s slot bidding derivatives solution, to provide the first liquidity derivatives mining product for PLO(Parachain Lease Offerings).
This means that by pledging KSM/DOT on the Zenlink SlotVault DApp to participate in the Bifrost crowdloan, users will not only receive multiple benefits including their native tokens, but also free up the liquidity of the KSM/DOT that is locked up for bidding, thus maximizing the benefits of crowdloan!
SlotVault: SlotVault is a smart pool product built by Zenlink for Polkadot PLO. The platform aggregates many parachain projects that plan to bid for slots and other Polkadot eco-projects, encourages cooperation between projects and forms a crowdloan supporter system to improve the success rate of parachain slot bidding, and provides users with multiple token incentives in the process of participating in PLO, bringing the “PLO as mining” experience.
SALP: SALP (Slot Auction Liquidity Protocol) is a major innovation for Bifrost, with the SALP protocol, Bifrost will unlock the liquidity of locked KSM/DOT in Polkadot slot auctions by generating derivatives vsToken (vsKSM/vsDOT) and vsBond. SALP creates derivatives completely decentralized through XCMP, allowing users to participate in crowdloan with security, no trust barriers, and released liquidity, thus reducing opportunity costs.
Specifically, Zenlink SlotVault will add an access portal for all parachain projects that go live on the platform to participate in their crowdloan through SALP once Bifrost officially becomes a parachain. SALP will support the issuance of crowdloan pledge derivatives vsKSM+vsBond by all partnered project parties, providing users with more flexible pledge options.
At the same time, Zenlink DEX Module will also be deployed to Bifrost parachain, and the vKSM/KSM trading pairs will be available on Zenlink at the first time, so that users can complete the Contribute-Swap (crowd loan pledge-trade) process in one stop.
It is worth mentioning that the combination of Zenlink SlotVault and Bifrost SALP will also give birth to an innovative mining method that integrates PLO mining and SALP derivatives mining, providing multiple benefits for users.
What is Bifrost?
Bifrost is the Polkadot Ecological DeFi basic protocol. It 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 Substrate Builders Program and Web3 Bootcamp.
vToken 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 vToken, realize the risk hedging of pledge assets, and expand scenarios such as vToken as collateral for lending, its staking reward part of the interest can be offset to achieve low-interest loans.
What is Zenlink?
Zenlink is committed to building a new generation cross-chain DEX network. By integrating the Zenlink DEX Module, Zenlink can enable parachains to access DEX capabilities and share liquidity with other parachains quickly; Zenlink DEX aggregator can link all DEX DApps on Polkadot. Users can not only complete the exchange easily and quickly but also enjoy a low slippage transaction experience. ZLK, Zenlink native token, provides a fair and transparent governance mechanism and reasonable value capture methods, which can be used to motivate ecosystem users to participate in network development for a long time.
Zenlink is an important member of the Polkadot ecosystem and is sponsored by the Web3 Foundation. For now, two grants have been delivered successfully. Furthermore, Zenlink has also completed the prototype verification of cross-chain assets trading between Polkadot parachains at 2020–12–12 04:00:00 UTC, which means that the first cross-chain dex user case on Polkadot has been verified successfully based on Zenlink DEX Module and Assets Module.
Learn more about Zenlink
📍 — Website | Twitter| Github | Telegram EN | Telegram CN | Announcements Channel
📚 — Whitepaper
