Online and Offline? Testnet and Event Season

Bifrost Finance
5 min readNov 6, 2020

In the second half of 2020, offline events on blockchain are coming back to life, with events in Beijing, Shanghai, Shenzhen, Meetup, Summit, Roundtable and hackathon …… coming one after the other. Among the topics discussed at different events, the biggest hotspots are “Polkadot” and “DeFi”.

The digital currency market as a whole has been very active, with lively discussions and visions of the future possibilities of the Polkadot ecosystem and DeFi.

Since the official start of the Bifrost Asgard CC3 Incentive Testnet on September 24th, Bifrost has participated in 9 online events, 13 offline events, distributed 26,290 BNC’s and accumulated 2,797 Bifrost addresses. Over 500 partners have joined the Bifrost Chinese community.

It is worth mentioning that Bifrost’s first international AMA was successfully held on October 21, and the Telegram community gained about 1000 fans.

Here is a list of Bifrost’s highlights in September-October.

Asgard CC3 Incentive Testnet

Bifrost released the Asgard CC3 Incentive Tesnet on September 24th, which includes Validator, EOS crosschain and vToken exchange. Although there were some bugs in the testing session (the problem has been located and fixed), compared to Asgard CC1 and Asgard CC2, the number of crosschain and vToken exchange data is undoubtedly a satisfactory answer to our community partners.

Asgard CC2 and Asgard CC3 Data Comparison Chart

In the Asgard, Bifrost organized the community to validate each functional logic with a large amount of test data in order to prepare the Bifrost mainnet for launch.

Bifrost will use extensive test data to verify the feasibility of each function logically and provide a complete test environment for future Bifrost mainnet in terms of cross-chain, exchange, and nodes.

Polkadot China Tour

Many thanks to PolkaWorld for hosting the “Polkadot China Tour” in Beijing, Shanghai and Shenzhen, where the Bifrost team followed and participated in all the offline events. During the event, we met a lot of our online friends and partners, and a lot of excellent teams from the Bifrost ecosystem, and we discussed and shared a lot of ideas with each other, covering topics such as DeFi, parachain, and slot auctions.

Polkadot China Tour-Shanghai

Demo Day

Web3.0 Bootcamp, organized by the Web3.0 Foundation, is a startup bootcamp and incubator focusing on blockchain innovation, aiming to help outstanding blockchain projects grow and develop rapidly through resource matching and technical support.

After 6 months of learning and exchange at Web3 Bootcamp, Bifrost and 14 other quality polkadot projects graduated! Bifrost co-founder Lurpis shared the progress of Bifrost via PDF on the spot, and summarized the results of 6 months of learning.

Demo Day

Web3 Forum

Lurpis, co-founder of Bifrost, was the keynote speaker at the Web 3.0 Forum on October 29th and shared his view that Polkadot provides a great innovation platform for composability of DeFi. Through PoC relay chain, parachains can easily interoperate with each other while sharing PoC security. With the emergence of Substrate, the cost of blockchain development and iteration is significantly reduced, and developers can focus more on matching market demand. With the refinement of Substrate, the vision depicted in Web 3.0 will come to reality much faster.

Web 3.0 Forum

Bifrost Releases New Version of Whitepaper

On October 31, Bifrost updated its whitepaper version to include a market overview, implementation plan, typical business, economic model, roadmap, and more. details, describing the focus of the Derivative Impossibility Triangle’s thinking in vToken design, along with details of Bifrost Native Coin’s value capture, incentive model, participation roles, distribution structure, and more.

Bifrost Launches PLO Liquidity Solution

As a preparatory parachain of the Polkadot ecology, Bifrost does a good job of staking business in the entire ecology, while also providing basic support tools for those DeFi economic models that have a high degree of similarity with staking, contributing to the healthy development of the entire ecology. PLO(Parachain Lease Offering) is one of the key economic models of the Polkadot ecology. The Polkadot ecological project obtains parachain slots by staking DOT, which is very comparable and similar to PoS staking. Bifrost will be able to provide liquidity for the pledged DOT in the PLO scenario.

Stage Summary

In the golden autumn of 2020 in October, Bifrost has achieved full gains both in technology development and market expansion!

PARACHAIN IS COMING! In the next stage, Bifrost will continue to work non-stop to prepare for the auction of parachain slots and the launch of the future main network. At the same time, it will actively participate in industry activities, broaden ecological cooperation, and consolidate community construction.

We look forward to the bright future of Polkadot ecology and DeFi, and encourage each other!

What is Bifrost ?

Bifrost is the DeFi project for PoS tokens, that include staking and liquidity both. It allows to get vToken for operations and delivering liqidity, plus you got staking rewards all the time your DOT, KSM,EOS or other token blocked by the smart-contract. You get reward from the Day 1 of nomination, without locking periods and can change your, for example, vKSM for KSM any time. BNC is the native token of Bifrost.

vToken can optimize transactions in multiple scenarios such as DeFi, Dapp, DEX, etc. When vToken is used as a collateral for lending, its staking income can offset part of the interest and realize low-interest borrowing.

With vToken you can hedge the risk of locked positions, DeFi & Staking double rewards and leverage Staking and other application scenarios.



Bifrost Finance

Bifrost Finance is a parachain designed for staking’s liquidity