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PoS must have a built-in Slash mechanism

The current public chain design can be roughly divided into PoW (Proof of Work) and PoS (Proof of Stake), and the PoW+PoS hybrid consensus is a combination of the two. The typical public chains that adopt PoW consensus are Bitcoin and Ethereum 1.0. Usual public chains that adopt PoS consensus are Ethereum 2.0 and Polkadot. In public chains that adopt PoW consensus, there are few node penalty mechanisms (Slash) designed, and public chains that adopt PoS will inevitably develop various Slash rules embedded. This is because the PoW public chain nodes (miners) have to pay the cost of computing power…


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vETH minting refers to the process in which users invest an amount of ETH to participate in Ethereum2.0 staking and obtain the corresponding vETH. After the token is minted, users can sell vETH at any time to get liquidity using a DEX. More information can be found here: vETH Minting.

vETH will be divided into four stages to achieve complete decentralization. It is currently in the second stage of development. The ETH invested by users will be put directly into the official Ethereum 2.0 deposit contract to complete the staking operation. This operation process is transparent and open, but the…


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Development

  • Build Rococo v1 locally and integrate and test with Zenlink cross-chain module
  • Iterate and upgrade Bifrost.js
  • Reboot with Rococo v1 and resubmit Proposal
  • Asgard CC4 relay chain and Collator node build
  • Update PLO Liquidity Grant proposal
  • Mint Drop 2 testing and deployment online

Ecosystem

  • Bifrost’s Mint Drop 2 launched on February 8, 2021 at 2pm (UTC+8) with a total of 500,000 BNC. Check the event tutorial.
  • On February 3, Bifrost Product Manager Tryone was invited to participate in an online AMA hosted by DFG Club to talk the topic of Enjoy Polkadot endless imagination. During the Polkadot auction session,he stated that…

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Q1: Why we need vETH?

Since the process of Ethereum 1.0 ETH entering the 2.0 deposit contract is one-way, it is impossible to go back at this stage. After ETH 2.0 enters the Phase 1, that part of funds pledged in ETH 2.0 may be redeemed, but this process may take more than 1 year. Mint vETH can obtain both ETH 2.0 staking reward and other leveraged income, while releasing the liquidity of pledged ETH, it hedges risks for pledged ETH.

Q2: What can I get from vETH Mint Drop?

Currently, in 2nd vETH Mint Drop, you can participate in vETH minting during the event and share BNC rewards. Rules detail In addition, participating…


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Personal Computer

Step one: Visit the Bifrost 2nd Mint Drop event at https://vtoken.io/drop and make sure you understand the rules of this event.


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Bifrost will open the second Mint Drop at 14:00 on February 8, 2021 UTC+8, with a total of 500,000 BNC. This Mintdrop will be divided into three rounds of airdrops, with 5,000 ETH minted per round and a total limit of 15,000 ETH, with a deadline of 72 hours per round. If all the vETH in a round is minted, the round will end. Suppose the vETH limit is not minted at the end of 72 hours. …


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Development

  • Submit and test the rococo-v1.1 parachain
  • PLO Liquidity Grant
  • Review code and upgrade Tokenmint incentive module
  • Mint Drop data docking, page walkthrough and testing
  • Asgard CC4 testnet implementation plan
  • vETH liquidation warning robot
  • Add pallet index configuration, remove part of pallet
  • Optimize the bifrost construct_runtime module

Ecosystem


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On January 28, 2021, we are very excited to announce that Bifrost already reached new round of angel financing, this is the the second round of financing after the seed round with 600,000 USD in September, 2020. This round of investment institutions include: CMS Holding, Altonomy, Sevenx, Zonff Partners, PAKA, Timestop Capital, InCuba Alpha, Oasis Capital, Kernel Capital and Loopring co-founders Jay Zhou and Steve Guo and other individual investors. Seed round investment institutions SNZ Holding and DFG continue to make additional investment.

After Bifrost completed the round of financing, Bifrost experienced rapid development, accumulating community, advancing products, in-depth cooperation…


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Latest News

On January 26, the Polkadot ecological basic protocol Bifrost and the heterogeneous cross-chain project Darwinia reached a strategic cooperation. Darwinia’s decentralized cross-chain bridge will facilitate the efficient multi-chain circulation of Bifrost’s derivative asset vToken.

Bifrost’s goal is to provide liquidity for staking assets by issuing derivatives. Since Bifrost is part of Polkadot ecosystem, the derivative asset vToken generated by Bifrost can be circulated among Polkadot parachains. However, the wider circulation of vToken needs to rely on heterogeneous cross-chain protocols.

Darwinia is a heterogeneous cross-chain bridge protocol that connects Polkadot and other public chains. As the “Golden Gate Bridge” for the…


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Bifrost is ready to connect to the Rococo v1 parachain. Currently, it has completed cross-chain module docking with Zenlink, and plans to conduct cross-chain messaging and cross-chain asset transactions with Zenlink after the official access to the Rococo v1 relay chain.

Bifrost and Loopring reached a strategy to jointly expand the liquidity construction of vToken in Layer 2. At present, the first phase of Loopring protocol vETH liquidity mining has ended on January 21. The vETH/ETH liquidity pool increased from $83,520 to $909,970 with 1,089% increased, providing 66.64% APR of vETH/ETH liquidity, allowing vETH to initially have liquidity in the…

Bifrost Finance

Bifrost Finance is a parachain designed for staking’s liquidity

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