With the application of the SALP business, 46,006 addresses have obtained vsKSM and vsBond, and the total amount of minting has reached 125,849 vsKSM and 125,849 vsBond. In order to provide vsKSM and vsBond with channels and usage scenarios before the opening of the flow pool, Bifrost launched the vsKSM Farming function.

Holders of vsKSM and vsBond needs to 1:1 deposit vsKSM and vsBond both in the Farming Pool to obtain mining revenue. It should be noted that having different vsBond means having different mining permissions, such as vsKSM + vsBond (Kintsugi) can only participate in Kintsugi Pool, and vsKSM + vsBond (Heiko) can only participate in Parallel Heiko Pool. It can be understood that vsBond is the ticket to a particular Pool, and vsKSM is the principal of mining.

Each Pool has a specific opening window. After the Pool is closed, you will not be able to participate in mining, but it does not affect the settlement cycle and earnings of users who are mining.

Farming page

Kintsugi and Parallel Heiko early bird pool online

Kintsugi Early Bird Pool

Farming time: 7 days
Opening time: 2021/09/29 14 AM UTC
Closing time: 2021/10/06 14 AM UTC
Reward: 100 KSM + 1500 BNC
Expected annualized rate of return (APY): 1043% + BNC

When the total staking amount of the pool is 500 vsKSM & vsBond (Kintsugi), it is estimated that for each stake of 1 vsKSM & 1 vsBond (Kintsugi), each block can receive at least 0.00000414 KSM and 0.00006211 BNC reward.

Parallel Heiko Early Bird Pool

Farming time: 7 days
Opening time: 2021/09/29 14 AM UTC
Closing time: 2021/10/06 14 AM UTC
Reward: 100 KSM + 1500 BNC
Expected annualized rate of return (APY): 1043% + BNC

When the total staking amount of the pool is 500 vsKSM & vsBond (Heiko), it is estimated that for each stake of 1 vsKSM & 1 vsBond (Heiko), each block can receive at least 0.00000414 KSM and 0.00006211 BNC reward.

Operation Tutorial

Step 1: Log in to Bifrost Dapp and click on the vCrowdloan page

Step 2: Enter the proportional vsKSM and vsBond and click Deposit

Step 3: After confirming the BNC balance and handling fee, click Confirm to start mining

Step 4: Signature confirmation on the chain, start mining after completion of vsKSM & vsBond farming

Summary

In Bifrost’s plan, vsKSM Farming is not only a short-term incentive activity, but also a function that will last for a long time. This means that mining will be a fixed effect of vsKSM, and friends no longer have to worry about holding vsKSM without interest.

As Bifrost applies SALP to more auction projects, more Pools will be launched in the future. At the same time, the liquid pool modules of vsKSM and vsBond will be launched soon. Users who wish to participate in mining can also choose to purchase vsKSM and vsBond to participate in mining.

What is Bifrost?

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

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