#19 Referendum Proposal | Bifrost mainnet v0.9.12 upgrade, online vsBond market

Introduction

In the last Runtime upgrade of version 0.9.8, Bifrost opened the Polkadot SALP, which managed by Polkadot multisig address to collect user contributions, and notified the Bifrost chain to issue liquid DOT (vsDOT) for users, release the locked DOT liquidity for contributors. As of December 8, 2021, Polkadot SALP has minted 766,078.0510 vsDOT.

Since the launch of Kusama SALP, it has supported the bidding of 10 parachains, of which 9 have successfully connected to the Kusama parachain, and the remaining one (Subsocial) is under bidding and is in the top 1st bidding position in the current round. Kusama SALP has accumulated 164,994.7808 vsKSM derivatives minting, and the TVL of SALP has reached $68,890,233.7568.

v0.9.12

A few days ago, we inserted the repair version upgrade of Bifrost runtime 0.9.10, which mainly fixed the problem of compatibility of XCM. At the same time, we added a module that supports different precision asset units and completed the Zenlink benchmark. This v0.9.12 version upgrade mainly includes functional content:

Open the vsBond market

vsBond, as a certificate representing the parachain auction period and vsKSM/vsDOT redemption rights, also has transaction attributes. Users can choose to buy/sell vsBond at any time to capture liquidity; or hold the same amount of vsKSM/vsDOT and vsBond until the parachain expires and execute the right to completely redeem the original staked assets. Users can complete vsBond transactions in the vCrowdloan market of bifrost.app, and use KSM to complete settlement. Read more: The Path to the Creation of the First Slot Auction Liquidity Release Protocol SALP.

Trading entrance: https://bifrost.app/vcrowdloan?tab=market

Proposal on the chain

  • Voting period: #905,364

  • Execution Period: #908,464

  • Execution: parachainSystem.authorizeUpgrade(0x7ec37df862adfdf5ce379278948646c8ce1920549fe8661bf6e44b252a287edb

  • Proposal Preimage:0x98f237b0e96a934da5c59608e1ba1ba67ecee747f9cdd0734c563c34fde74283

  • Proposal Hash: 0x98f237b0e96a934da5c59608e1ba1ba67ecee747f9cdd0734c563c34fde74283

Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for pledged assets to provide liquidity. It has launched a derivative vToken for Staking and Polkadot Parachain... Learn More

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