Bifrost 2022 May Monthly Report

Bifrost Finance
3 min readJun 2, 2022


Technological Developments

Bifrost runtime v0.9.42

  • Fix bug in BNC Staking module
  • Update dependency to 0.9.19

Dapp 1.3.0 - 1.3.1

  • Launch vKSM module
  • Launch SALP Convert function
  • Optimize continuous operating experience
  • Launch PHA assets and cross chain
  • Launch Rainbow Boost
  • Add KSM quick redeem function


  • Rainbow Boost service
  • vToken related monitoring
  • vKSM service optimization

Investigation and Research

  • Polkadot < = > Ethereum cross chain scheme
  • Polkadot < = > Kusama Bridge
  • Moonriver contract cross chain research

Product Progress

  • Bifrost has successfully renewed the parachain slot of Kusama for 48 weeks, and all parachain functions are in continuous and stable operation.
  • Bifrost Staking Liquidity Protocol: SLP has been launched. As the first SLP derivative, it supports minting of vKSM. Users can participate in vKSM farming while holding vKSM and enjoy the dual benefits of Staking + Farming. The total minting volume of vKSM on the 14th day of its launch was 68,860 vKSM.
  • The two-way mutual transfer function between vsKSM and vsBond was launched in SALP 2.0. Compared with vsBond pending transactions, users can now realize rapid vsBond liquidity exchange through the protocol pricing of SALP. Query vsKSM < = > vsBond exchange rate.
  • The Bifrost App front end and SLP protocol cooperate with the online behavior incentive system Rainbow Boost to accumulate the corresponding entries according to the user’s online action vKSM minting, redemption, transfer, etc., which can be used as the long-term online identity and equity proof of Bifrost network.
  • Users can access Bifrost App through Token Pocket, Math Wallet and Nova Wallet to complete vKSM minting.

Online Events

On May 3, in the third phase of PolkaWorld open, Polkadot invited the partners of the ecosystem to discuss the current limitations.
About why Metaverse, NFT, DAO and GameFi were not carried out in Polkadot, the participants gave a lot of pertinent comments on the development rhythm, cost and resources of Polkadot.

On May 5, Bifrost and PolkaWarriors held the SLP launch sharing of the Staking liquidity Protocol. Tyrone, a member of Bifrost Council, gave an online demonstration on the problems solved by the SLP launch and minting, income and redemption of the first derivative asset vKSM supported by SLP.

On May 15, Lurpis, a member of Bifrost Technical Committee, also introduced the participation rules of the first phase of Rainbow Boost in the PolkaWorld WeChat live video room, and demonstrated online how to obtain Raindrop entries and participate in vKSM farming. After minting vKSM, you can enjoy the staking reward of KSM, Raindrop airdrop and vKSM Farming.

On May 17, Polkahaus club invited Bifrost Council Member, Tyrone, to give relevant introductions on Polkadot parachain auction, the development of SALP protocol and the ongoing Rainbow Boost activities.

On May 19, nearly a year after the first Kusama Crowdloan, PolkaWorld reunited with Karura, Moonriver, Shiden, Phala and Bifrost to review the development of Kusama parachain in the past.

On May 25, PolkaWorld made an exclusive interview with Bifrost Lurpis on how to judge the next hot spot of DeFi. The interview talked about the role of Staking derivatives, the development stage of its market, what actions it will take to achieve its goals and what derivative assets it plans to launch in the future.

Offline Events

On May 30, Bifrost was invited to the Dotsama Prague 2022, a live event in Prague which will take place on June 7. Bifrost Growth Manager, Christian, was invited to participate in a Panel to share thoughts about how to grow a project in the Dotsama ecosystem. He will also share recent developments of Bifrost protocol and communicate with partners from other projects.

Polkadot Crowdloan

On May 31, Bifrost won the auction for the 18th Polkadot Parachain Slot.