Bifrost SALP Supports OAK Network Polkadot Crowdloan
We are happy to announce our support for the OAK Network Crowdloan through our Slot Auction Liquidity Protocol (SALP).
OAK Network is the Web3 hub for DeFi and payment automation, providing secure and trustless payment infrastructure for DeFi and recurring payments across protocols. OAK’s design provides trustless automation, allocating block space and maximizing gas to store, initiate, and carry out transactions across connected blockchains.
In this integration, Bifrost will work with OAK Network to simplify access to liquid derivatives of staked DOT for their Crowdloan users, generating novel options for users taking part in the Polkadot Crowdloan and rivalry among chains.
Bifrost’s ability to create fully decentralized liquid derivatives based on the Kusama Parachain is its market advantage. Support for the OAK Network Crowdloan will enable Bifrost to leverage collaboration with the OAK Network community to launch the Slot Auction Liquidity Protocol (SALP) and boost user engagement with the Oak Network Crowdloan.
OAK Network: Bolstering Web3 Services
The collaboration allows Bifrost to help establish a robust payment solution across Web3. OAK Network differs from existing blockchain payment solutions as it ensures:
- No more wrapped assets - The chain supports the assets; thus, they no longer need to be bound to one smart contract.
- Eliminates off-chain servers as on-chain event modules can trigger repetitive transactions.
- Abolishes private key custody.
- Chain-level security.
- Native upgradability - Based on Substrate, OAK Network will constantly strengthen with forkless runtime upgrades.
- Time-based guarantees for execution.
- Support for asset transfer to multiple addresses with one transaction.
For the SALP, Bifrost combines Polkadot multi-signature with Kusama Parachain. Users will boost capital usage during the 96-week Crowdloan lock-up period and decide their risk thanks to Bifrost’s versatile Crowdloan liquidity solution.
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About OAK Network
OAK Network is Web3’s hub for cross-chain automation, enabling multi-chain apps to schedule and automate any substrate extrinsic or EVM smart contract function. OAK is built to deliver trustless automation, dedicating its block space and optimizing gas to store, trigger, and execute transactions to connected blockchains.