Bifrost will support Altair Kusama Crowdloan through SALP Protocol
We are pleased that Bifrost will be supporting Altair (Centrifuge) in the second batch of the Kusama slot auctions through the SALP protocol and releasing its contributors’ bonding liquidity.
Bifrost x Altair
Centrifuge’s first product, Tinlake, has been live on Ethereum since last year, and has accumulated 30m+ TVL for its real-world asset investment pools. Like Bifrost, the external assets will be a part of significant liquidity flows to the Polkadot & Kusama ecosystem. Bifrost wishes to expand the derivative market by connecting with real-world assets, while accessing significant liquidity from the DeFi ecosystem.
As one of the strong competitors in the 2nd batch of Kusama slot auctions, Altair is the canary network of Centrifuge. In order to promote the partnership, Bifrost wishes to boost Altair’s parachain auction. All Altair’s contributors who contribute though SALP protocol will be able to join the derivative mining with vsKSM, and receive Bifrost native token (BNC) as reward. Once Altair wins the auction, the vsKSM will be tradable for swap between KSM and other assets effortlessly, and contributors will be able to get AIR as Crowdloan reward.
AIR Crowdloan Rewards
In the 2nd batch of bidding, Altair is offering the following rewards for those who vote Altair:
- Stake 1 KSM to earn 400 AIR
Earn 400 AIR : 1 KSM contributed to the Altair crowdloan. With 18% of the supply reserved for crowdloan participants, KSM holders get a huge stake in the Altair network!
- 10% Bonus for early birds
Earn an extra 10% bonus if you contribute KSM in the first 48 hours!
- 5% reward on referrals
Altair has a referral bonus this time around — earn an extra 5% bonus for both you and a friend.
More information on Altair Crowdloan rewards can be found at this link: https://medium.com/altair-network/altair-round-2-go-94fa0f115081
What is SALP?
SALP (Slot Auction Liquidity Protocol) aims to issue derivatives vsKSM for KSM contributors, vsKSM can be used for DeFi applications such as swap and liquidity mining during the KSM bonding period, exchange KSM in AMM at any time. After the parachain lease expires, derivatives can be fully redeemed for KSM in 1:1. Learn more about SALP.
What is Altair
Altair is one of the fastest spinning stars in the galaxy, and is also the bridge from Centrifuge to Kusama. You will now be able to tokenize real-world assets and finance them on the Kusama network.
It combines the industry-leading infrastructure built by Centrifuge to finance real-world assets (RWA) on Centrifuge Chain, with the newest experimental features — before they go live on Centrifuge Chain. Even once Centrifuge is fully live on Polkadot, Kusama will be used for minting art NFTs, financing undiscovered assets, and whatever else the Kusama community brings to the table.
Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for pledged assets to provide liquidity. Bifrost launched derivatives vToken for Staking and Polkadot Parachain Slot (Crowdloan). It has obtained $2.15M in fund-raising from NGC, SNZ, DFG, CMS and other institutions and Web3 Foundation Grant. It is also a member of Substrate Builder’s Program and Web3.0 Bootcamp.
vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, CEX, and realize the transfer channel of pledge rights such as staking and crowdloan through vToken, realize the risk hedging of pledge assets, and expand scenarios such as vToken as collateral for lending, its staking reward part of the interest can be offset to achieve low-interest loans.
Learn more about Bifrost