🌈What is Bifrost
Bifrost is a modular, scalable, non-custodial omnichain liquid staking parachain based on Polkadot. It provides standardized, high-yield, safe, and reliable underlying interest-bearing assets for Web3 through XCM, and is realizing the omnichain vision of using any LST on any chain.
The easiest way to understand Bifrost is to see it as a derivative issuer that provides liquidity for all pledged assets, issuing corresponding shadow assets during the bonding period of the original assets. At the same time, the shadow asset is a fungible Token that can be circulated in different DEXs, pools, protocols and across chains.
As a DeFi protocol, Bifrost is aiming to solve the following issues in PoS ecosystems:
According to the questions above, Bifrost's solution vToken (liquid staking voucher Token) enables users to convert their PoS tokens into vTokens in order to obtain staking liquidity and staking rewards synchronously, without barriers in cross-chain scenarios.
Why Bifrost?
Liquid-Staking
Mint vToken on Bifrost (equals stake through Bifrost), you can control your underlying staking assets during the locked period.
Automatic Staking Management
Bifrost Staking protocols run under the Bifrost parachain pallets, earning staking rewards every era, without centralized risks.
Reduced Unstaking Period
Bifrost SLP helps users to realize the possibility of early redemption by matching the real-time staking quantity with the redemption quantity at the protocol layer in the form of a queue. Theoretically, it can achieve faster redemption.
Extra Staking Returns + DeFi Yields
Bifrost offers delegate staking for users by selecting a set of validators and rebalancing the rewards to give more profitable solutions. By holding vTokens, you will have chances to head into a world of yield scenarios.
Last updated
