The 2nd phase of Loopring × Bifrost vETH liquidity mining has started, Weekly Report 41

Bifrost is ready to connect to the Rococo v1 parachain. Currently, it has completed cross-chain module docking with Zenlink, and plans to conduct cross-chain messaging and cross-chain asset transactions with Zenlink after the official access to the Rococo v1 relay chain.

Bifrost and Loopring reached a strategy to jointly expand the liquidity construction of vToken in Layer 2. At present, the first phase of Loopring protocol vETH liquidity mining has ended on January 21. The vETH/ETH liquidity pool increased from $83,520 to $909,970 with 1,089% increased, providing 66.64% APR of vETH/ETH liquidity, allowing vETH to initially have liquidity in the Layer 2 network, and realize that while holding vETH to obtain ETH 2.0 staking, it still has liquidity. Liquidity incentives will be resumed at Loopring, and the second phase of vETH/ETH liquidity mining will be launched on January 25 to further expand the liquidity of vETH in the Layer 2 network. vETH has realized multsig deposit, minting, income generation and issuance, liquidity construction, liquidity revenues and other closed-loop functions. The second phase of Mint Drop revenues will be launched in the near future to further expand the scale of vETH minting. Stay tuned.

Development

• Rococo adds Bifrost testnet
• Zenlink cross-chain asset module transformation
• Bifrost.js module interface upgrade
• Vote bidding system module funding test
• PLO Liquidity XCM development docking
• vETH Uniswap transaction interface optimization
• EOS Relay and Bifrost code upgrade synchronization
• EOS cross-chain bridge interoperability Cli tool
• Mint Drop second phase front-end and back-end development
• Asgard CC4 testnet preparation

○ Local relay chain construction

○ Module task distribution

○ Incentive rule design

• Bifrost Dapp V2

○ Mainly write page skeleton and some components

○ Unify fonts, add custom fonts

○ Independent color variable

○ Add sidebar menu

○ Standard code format

○ Home layout

○ Add simple animation effects

Ecosystem

• On January 8th, Bifrost & PolkaProject jointly organized an overseas Telegram airdrop event. After the event, a total of 2000+ effective Telegram users were raised, and twitter raised 1500+ followers. A total of 800 BNC airdrop rewards will be sent within 7 working days after the event ends. Winner ranking and award announcement: https://shimo.im/sheets/83XvwwXvv3C6kqWt/MODOC/
• On January 20th, Lurpis, the co-founder of Bifrost, was invited to participate in the Mars video live broadcast conference and 2021 blockchain investment prospects, and expressed his views at the Polkadot discussion: “Polkadot has a good chance to surpass Ethereum in terms of technology. of. In the future, cross-chain will bring greater network effects, and the Polkadot ecology will be broader than the Ethereum ecology.”
• On January 21st, in the new issue of Parity and friends overseas online sharing, Bifrost’s core developer Herry Ho shared Bifrost’s voting bidding system Vote Bidding System (VBS), video review: https://cutt.ly/PjJTOoG
• On January 21st, Bifrost broadcasted the live sharing project in the Hotbit Telegram community and its current development, and responded to users’ concerns about PLO, cross-chain, and mainnet launch. The live Recap will be released next week.
• On January 22nd, at the Polkadot Special Session of the Coin World New Year Forum, “How to bet on the Polkadot Ecosystem in 2021”, Bifrost co-founder Lurpis said: Slot auction reward rules, the opportunity cost of participating in lock-up, and project quality are three important references basis for KSM holders to participate in PLO.

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.

Website https://bifrost.finance/
Github https://github.com/bifrost-finance
Telegram https://t.me/bifrost_finance
Medium https://medium.com/@bifrost_finance
Twitter https://twitter.com/bifrost_finance
Discord https://discord.gg/8DRBw2h5X4