Bifrost 2022 April Monthly Report

Bifrost Finance
4 min readMay 6, 2022



Bifrost runtime v0.9.32

  • Launch vsToken Conversion, which supports bi-directional swap between vsKSM and vsBond
  • Add Asset registry to register external assets
  • Upgrade Polkadot dependencies to v0.9.17
  • Support Moonriver cross-chain assets MOVR and xcBNC

Bifrost runtime v0.9.40

  • Added vToken Minting module to support vKSM minting and destroying from users
  • Added SLP module to manage KSM staking funds
  • Updated Polkadot dependencies to 0.9.18

Dapp 1.2.1

  • Add MOVR asset display
  • Support cross-chain operation between assets and Moonriver


  • FIL <=> Bifrost cross-chain scheme research
  • Technical realization scheme research of vMOVR
  • Launch Polkadot slot auction activity page development
  • vETH interest settlement optimization
  • Farming 2.0 development(In process)
  • Rainbow boost activity function development(In process)


  • The development of Bifrost SLP protocol has been completed, and vKSM is undergoing the final internal test, which will be launched in early May.
  • SALP 2.0 has been developed and the function which supports the mutual conversion between vsToken and vsBond will be launched in early May.
  • Bifrost Polkadot Crowdloan auction page has launched. At present, a total of 374,159 DOT has been raised, achieving the set soft top goal.
  • The Bifrost Polkadot Crowdloan The Last Winner event was successfully held, and five addresses won a total of 30,000 + BNC awards


Online Event

On April 14, Polkaworld held a Chinese sharing on Twitter Space on Web3 world vision, roles and future trends. Lurpis, a member of Bifrost Technical Committee, and other Polkadot builders talked about the future of Web3 from the perspective of cross-chain and decentralization.

On April 20, OKX Blockdream Ventures invited Bifrost Head of Strategy Tibo to participate in the community AMA and share the progress of Bifrost Crowdloan, BNC staking and the upcoming upgraded version of SALP 2.0.

On April 28, Tyrone, a member of Bifrost parliament, was invited to participate in the annual online conference Polka Defiance. Tyrone will have a round table discussion with Polkadex’s Deepansh and Mangata’s Gleb on the method of using Dotama assets in DEFI applications.

On April 29, the 7th Community call of Bifrost was launched. Tyrone summarized the latest progress of the team’s work on the launch of SALP 2.0, xcBNC on Moonriver and SLP.

Polkadot Crowdloan

On April 7, the appointment of Polkadot Crowdloan was officially opened. Users only need to fill in the email address and Polkadot address on the Bifrost Crowdloan activity page. The appointment lasted 15 days from April 7 to April 22.

On April 22, Bifrost Polkadot Crowdloan was officially launched. At present, it has exceeded 300000 DOT soft top. More than 400 addresses voted. A total of 5 lucky people received 33000 + BNC in The Last Winner event.


On April 8, Bifrost stage network was launched Subscan. Subscan provides a convenient and fast entry for the environment status and block query of Bifrost Stage Network. Bifrost can be tested in the Stage Network environment before launching pallet in the future.

On April 9, Bifrost cooperated with Web3go, which provided a Dashboard for Bifrost staking. Bifrost users can make comprehensive decisions by using the Staking Simulator through the connection address when selecting Collator to delegate BNC.

On April 11, Bifrost and Talisman jointly announced that Bifrost had entered Talisman Paraverse! Users can connect wallet addresses to further explore the liquidity of cross-chain Stacking and Crowdloan derivatives.

On April 14, the two-way cross chain channel between Bifrost and Moonriver was opened. The first batch of xcBNC / MOVR assets were supported. The two-way cross chain of Kusama parachain Bifrost and Moonriver was opened through cross consensus information transmission XCM. Users can transfer BNC to Moonriver through XC-20 standard, use xcBNC to access Moonriver DEFI ecology, or cross MOVR back to Bifrost parachain.

On April 15, with USDT launched Statemine network, Bifrost will also allow users to cross in / out of USDT in Bifrost DAPP. In the future, Zenlink DEX can be used to complete USDT related transactions and liquidity Farming.

What is Bifrost

Bifrost is a Web3 derivatives protocol that provides decentralized cross-chain liquidity for staked assets. Leveraging the cross-chain message (XCM) can provide cross-chain liquid staking services for multiple chains.

Bifrost has raised over USD 2M from top-tier venture capital firms by NGC, SNZ, DFG, CMS, and other institutions. In addition to being an early receiver of a Web3 Foundation Grant, Bifrost is also a member of the Substrate Builders Program and the Web3 Bootcamp.

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