Bifrost completed the angel round of financing, Second term of Mint Drop is coming, Weekly Report 42
- 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
- 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.
- On January 26, Lurpis, the co-founder of Bifrost, was invited to participate in the DISRUPTORS 2020 online forum co-sponsored by Star Consulting and Star Finance. At the meeting, he shared his new outlook on Polkadot in 2021 and Bifrost’s current first quarter Roadmap.
- On January 27, on Bifrost’s BML live broadcast “parachain slot auction is coming” shared that Polkadot’s ultimate success must not be achieved overnight, but the ecology slowly accumulates and grows. It is a process of Pokadot that having a sufficiently strong composability ecology is the key to Polkadot’s success. Details: https://mp.weixin.qq.com/s/2xyNnc0p_S2zSQ6WVN2poQ
- On January 27, Bifrost Product Manager Tyrone was invited to participate in the CRYPTO TIMES Japan Polkadot AMA. The live broadcast introduced the problems solved by Bifrost, the bidding for KSM slot and the advantages and benefits of using vToken.
- On January 28, Bifrost shared with DFG about what did Bifrost bring to Polkadot? What is vToken and Bifrost’s relationship with DFG? Bifrost Product Manager Tyrone made a series of answers, and announced that vETH Mint Drop 2.0 will be an important activity before the Bifrost mainnet.
- On January 28, 2021, 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.
What is Bifrost ?
Bifrost is a Polkadot Ecosystem DeFi infrastructure protocol that aims to become an infrastructure for providing Staking liquidity, and currently offers a derivative vToken for Staking and Polkadot Lease Offering (PLO). It is also a member of the Substrate Builders Program and Web3 Bootcamp. vToken can optimise transactions in multiple scenarios such as DeFi, DApp, DEX and CEX.
vToken can optimise transactions in multiple scenarios such as DeFi, DApp, DEX and CEX. vToken can be used to realise the transfer channel of governance right such as Staking and PLO to hedge the risk of Staking assets. In extended scenarios such as when vToken is used as collateral for lending, the staking proceeds can offset part of the interest and realise low-interest lending.