DOT.OnGoing: Bifrost Finance
Outstanding project: Bifrost Finance
Bifrost_finance is a Polkadot Ecosystem DeFi protocol that aims to provide staking liquidity & currently offers a derivative vToken for Staking & PLO
Rating: 5(DOT) #DeFi #Web3Grant #Bridge
Introduction
Bifrost is a Polkadot Ecosystem DeFi protocol that aims to provide 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 optimize transactions in multiple scenarios such as DeFi, DApp, DEX, and CEX.
vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, and CEX. vToken can be used to realize 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 realize low-interest lending.
Key Features and Highlights
Bifrost is a cross-chain network which provides liquidity to bonding assets. It takes advantage from Staking as the early stage to provide liquidity in the form of Staking derivatives. Bifrost is established on Polkadot network and developed by Substrate, the underlying layer is based on the WebAssembly, LIBP2P, and GRANDPA consensus. As a DeFi project in Polkadot ecosystem, Bifrost launches vToken (Staking Derivatives Voucher Token) which allows users to exchange PoS token to vToken and obtain liquidity and Staking rewards through Bifrost protocol at any time. Bifrost has acquired Web3 Foundation Grant, it is also a member of Substrate Builders Program under Parity, one of fifteen core members of Web3 Bootcamp incubator that organized by Web3 Foundation and WanXiang Blockchain Lab, supported by Web3 Foundation and WanXiang Blockchain Lab on technology, products, capital, legal affairs, ecological cooperation and other comprehensive aspects.
Team Member
Lurpis - Co-Founder & CEO; Edwin - Co-Founder & CTO
Investors
Seed Round（NGC Ventures、SNZ Holding、Digital Renaissance、Consensu lab、LongHash Ventures、DFG、Youbi Capital、Bitrise Capital、Nova Club）
Angel Investment（CMS Holding、Altonomy、SevenX、Zonff Partners、PAKA、Timestamp Capital、Incuba Alpha、Oasis Capital、Kernel Capital、SNZ Holding、DFG）
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