We are thrilled to announce that HRMP (XCMP-Lite) channels have been opened between Bifrost and Kintsugi Parachain on Kusama ecosystem, and BNC and the KINT token will be available on each other’s networks soon. Once BNC is deposited on Kintsugi, it can be used across Kintsugi’s ecosystem; KINT will be used in Bifrost’s single-platform DeFi functionalities.
Besides the transaction of both native tokens, Kintsugi’s flagship product kBTC will be crossed to Zenlink DEX. Bifrost, Zenlink and Kintsugi will create a three-party incentivized KSM-kBTC pool, which may benefit more utilities for BTC spreading around Kusama ecosystems. Creating KSM-kBTC pool will additionally provide more liquidity options for KSM-vKSM pair users, and kBTC be indirectly swapped with vKSM, between two pairs.
About Kintsugi
Interlay is building a one-stop-shop for all Bitcoin financial operations: BTC trading, lending, staking, and deploying it into other DeFi products. Trustless bridge at the core, AMM and money market on top, wrapped in a simple one-click interface with on/off-ramps and multi-chain support.
Kintsugi is Interlay’s canary network, a test-net with a real economic value deployed on Kusama (Polkadot’s canary network). Kintsugi and Interlay share the same code base - with the difference that Kintsugi is 2–3 releases ahead of Interlay with more experimental features.
Inspired by the ancient Japanese tradition of embracing the flawed and imperfect, Kintsugi accepts the nascent DeFi ecosystem on Kusama as chaotic while constantly being perfected by golden streaks of its community.
About Bifrost
Bifrost is a Web3 derivatives protocol that provides decentralized cross-chain liquidity for staked assets. By leveraging on the cross-consensus message (XCM) it can provide cross-chain liquid staking services for multiple chains.
Bifrost’s mission is to provide standardized cross-chain interest-bearing derivatives for Polkadot relay chains, parachains, and heterogeneous chains bridged with Polkadot. Furthermore, by aggregating over 80% of PoS consensus chains’ staking liquidity through cross-chain derivatives, our protocol lowers users’ staking threshold, increases multi-chain staking ratio, and improves the ecosystems application interest base, by creating a three-way positive cycle for the StakeFi ecosystem by empowering users, multi-chains, and ecosystem applications.
Bifrost has raised over USD 2M from top-tier venture capital firms by the likes of 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.
