Monthly Report | Bifrost’s total vToken minting value surpassed $55 million.

3 min readJan 31, 2023

Developments

Optimize the display of vToken estimated revenue
More accurate statistics of the total vToken holdings
Optimize the accuracy calculation of tokens with long digits of precision such as ZLK
The SALP Unlock function adapts to the new interface
vToken APY can directly see the Base and Farming parts
Farming cards added TVL display
Distinguish Bifrost Polkadot & Bifrost Kusama in Network Setting
Optimize Wallet asset grouping and order
Added asset cross-chain support for the three chains Shiden, Astar, and Kintsugi
Fix white screen bug when switching network
Launch vBNC

The minting volume of vBNC exceeded 2.7 million, the minting of vKSM was close to 250,000 KSM, and the total vToken minting value of Bifrost exceeded $55 million . https://bifrost.app/dashboard
Bifrost released a proposal for autonomous election of SLP validator nodes. From the initiation of the off-chain discussion proposal to the on-chain democratic proposal voting, it is completely initiated by the VBL applicant and discussed in the community. This process is done using the Subsquare UI, and all Bifrost governance discussions have been migrated to Subsquare. https://bifrost.subsquare.io/
Bifrost has launched vETH 2.0 contract development for the Shanghai upgrade. After the upgrade in Shanghai, the new contract will support interaction with the old vETH contract, and complete functions such as exchanging old coins for new coins, increasing the exchange rate, and adding vETH redemption. More product details will be announced after the Shanghai upgrade.
Bifrost Kusama and Bifrost Polkadot have opened cross-chain channels with Shiden, Mangata, Kintsugi, and Astar respectively. At the same time, Bifrost Dapp supports BNC, vKSM, vsKSM, ASTR, kBTC, and KINT asset inter-crossing functions. Among them, Mangata DEX has launched the BNC-MGX, vsKSM-KSM liquidity pool, and will soon announce the online information of the vKSM-KSM trading pair; Astar AuthSwap will launch the BNC-ASTR trading pair.

On January 4th, to help Bifrost users to better participate in Bifrost on-chain governance, the article Bifrost Governance on Subsquare I: General Introduction.
On January 16th, with the opening of the HRMP channel between Bifrost and Astar, the first BNC/ASTR LP pool was launched on ArthSwap, the largest DEX in the Astar ecosystem. At the same time, ASTR and BNC have completed the cross in / out function on bifrost.app, which will expand the possibility of assets in multiple ecology in the future.
On January 19th, vsKSM-KSM Farming pool was launched on MangataX, and users can provide vsKSM & KSM liquidity through app.mangata.finance to get MGX rewards! https://twitter.com/BifrostFinance/status/1616024439581298697
On January 20th, the Bifrost Discord community launched the RainBot, which aims to provide BNC address and Discord ID binding function for users who have obtained Raindrop points in the Rainbow Boost event. Once the binding is completed, community members will obtain different Raindrop community roles according to the number of Raindrop held by the BNC address.
On January 24th, the locked KSM in the fourth Kusama Crowdloan began to be released. This release involves the projects supported by Bifrost SALP, namely Litmus and Sora. In view of vsBond’s expiration mechanism, please use vsKSM+ vsBond 1:1 to redeem KSM as soon as possible for users who support Sora and Litmus projects through SALP https://twitter.com/BifrostFinance/status/1617886603875323907