Tutorial | How to stake $BNC and earn rewards
Bifrost has completed the mainnet Collator upgrade at 10am GMT on March 22, and has now launched Collator mainnet access and $BNC staking! See more collator and delegator parameters in Bifrost Wiki.
If you have a technical foundation, you are welcome to register for Collator directly and participate in the active Collator campaign. If you only want to participate in BNC Staking, please refer to the video below to understand the operation from swap to delegating :)
According to the design of Bifrost’s economic model, the total volume of BNC is fixed without inflation and will be used for Collator incentive construction by reserving 5% of the total issue volume of BNC, and the number of incentives in the first year will be 800,000 BNC.
Collator will package the transactions on the Bifrost chain in a decentralized manner and conduct consensus with the Validator on the relay chain to realize the decentralization of the block collection link.
What is 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.