Bifrost Kusama Crowdloan will be officially launched at 22:00 UTC+8 on June 14th, Beijing time (Parallel ID 2001). In this auction, Kusama officially released a total of five slots. Bifrost will use the main network (non-Canary Network) to start the auction from the second slot, and then participate in the second to fifth slot auctions until it successfully wins the slot. The parachain lease period for the auction is 48 weeks.
How to contribute?
Crowdloan is the official on-chain bidding crowdloan channel. It is the most direct way to support parachain bidding. Through Crowdloan’s support, Bifrost cannot generate corresponding liquid derivatives. All KSMs will be redeemed in the same way after the 48-week pledge expires.
Reward hard cap: 250,000 KSM
Total reward: 3,000,000 BNC
Reward ratio: 1 KSM: 11 BNC
Unlocking period: TGE 50%, the remaining part will be released linearly within 48 weeks
It is recommended that everyone contribute through Bifrost’s official website interface: ksm.vtoken.io. The official website participation page integrates Bifrost’s original parachain bonding liquidity protocol SALP. Participating in voting will obtain vsKSM and vsBond derivatives, which can be used to unlock liquidity during the bonding period. At the same time you can also get an additional 5% invitation reward. To participate in the tutorial, please see: Bifrost Kusama Parachain Auction.
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 Builders Program and Web3 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