The carnival of the bull market shatters all rational emotions. As the Bitcoin bubble gradually diminishes, investors gradually return to the field of ecological value.
On May 18th, Kusama successfully deployed Parachain Shell, and the Polkadot parachain slot auction became more and more popular. For this highlight, the market has already accumulated extremely high expectations. More and more high-quality projects are emerging, constantly approaching the vision of Wanchain Interconnection.
As the underlying DeFi protocol of the Polkadot ecosystem, Bifrost has made full preparations for the Kusama slot auction and is ready to go. On June 10th, Bifrost and Odaily held a live broadcast event of "DeFi New Paradigm - Bifrost Kusama Parachain Auction Conference", detailing the rules of the auction and the ideal model for project development.
secondary titlehttps://play.yunxi.tv/pages/23cb4b3c1227463089278f0058e97385#/】
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Bifrost is committed to becoming a liquidity-providing infrastructure for pledged assets, and launched a derivative vToken for Staking and Polkadot parachain slots. Users can exchange PoS currency into Bifrost vToken through the Bifrost protocol. Each PoS token will correspond to a different vToken, and only need to hold vToken to obtain Staking income.
With Bifrost's Staking liquidity solution, users can obtain liquidity release tokens while obtaining Staking benefits. Liquidity release tokens can be traded, transferred, and participate in various DeFi activities. Liquidity tokens can be redeemed in equal proportion to native assets, and they can also continuously obtain Staking income.
On the one hand, it solves the conflict between DeFi and Staking income, and on the other hand, it also greatly reduces the threshold for participation in PoS network Staking, killing two birds with one stone. Bifrost officially stated that the future application direction will focus on three directions: staking without lock-up, lowering the threshold of staking, and increasing staking revenue.
With the Kusama slot auction approaching, Bifrost's SLP business and SALP business have been explored step by step and entered the stage of implementation. Bifrost has already done a full test before connecting to the Kusama relay chain, and the process of formal parachain slot auction should be officially started.
In this Bifrost Kusama slot auction, the casting of vsKSM will be launched for the first time. The KSM that participates in the vsKSM casting will be used in the Bifrost Kusama parachain slot auction. Users will receive vsKSM that releases liquidity and generous BNC slot auction rewards .
This press conference will invite the Bifrost team to tell you about Bifrost's detailed bidding rules, as well as the bidding reward mechanism and the future development route of Bifrost, so as to provide more technical foundation for the DeFi ecosystem.
As an infrastructure that provides liquidity for pledged assets, Bifrost has a wide range of usage scenarios. With the improvement and launch of Bifrost SALP, more project parties and token holders will participate in the Polkadot parachain slot auction through Bifrost. We also look forward to the further development of the market, let us wait and see.
