Bifrost supports Invarch Network on Polkadot with SALP
On 10 March 2023, Bifrost announced its support for the InvArch Network Crowdloan on Polkadot, an intuitive and cutting-edge blockchain that bridges the gap between ideas and creation, connecting a world of thinkers, creators, and finance under one ecosystem, and allowing innovation to flourish.
In this integration, Bifrost will cooperate with InvArch to help their Crowdloan participants access liquid derivatives of staked DOT, creating innovative solutions for users participating in the Polkadot Crowdloan and competitive opportunities under the multi-chain development pattern.
The InvArch Network is the DAO hub of Web3, providing a multichain foundation for DAOs, multi-party ownership & intellectual property solutions suite, and integrations with blockchains across the Polkadot ecosystem & beyond!
Bifrost’s advantage is to mint fully decentralized liquid derivatives based on the Polkadot Parachain. Support for the InvArch Crowdloan will help Bifrost unlock a new opportunity with the InvArch community to introduce the Slot Auction Liquidity Protocol (SALP) and encourage more users to participate in the InvArch Crowdloan.
Bifrost implements DOT transfers for Crowdloan Contribute through XCMP, helping InvArch to achieve a fully decentralized vsDOT + vsBOND minting process. This innovative Crowdloan liquidity solution will allow users to increase capital utilization during the 96-week Crowdloan lock-up period and make choices about their risk appetite. InvArch will assist Bifrost, provide technical support in the Crowdloan docking process, and promote long-term cooperation between Bifrost and InvArch.
Bifrost SALP now supports InvArch Polkadot Crowdloan and welcomes developers and users to contribute InvArch Crowdloan and use the derivatives assets.
Contribute to the InvArch Crowdloan: https://bifrost.app/vcrowdloan
Crowdloan details: https://medium.com/@invarch/invarch-network-crowdloan-announcement-eae9d0ccb78f