Foreword

In the past two weeks, Kusama Parachain Auction has entered the fierce stage of the 4th slot auction. Bifrost team mainly focused on the development and marketing of the official auction page vsKSM Mint Drop (ksm.vtoken.io), through the 200% reward sprint activity, the invitation code reward promotion/generation mechanism restart, the leading reward bonus, and the Asgard hero plan, four aspects were used to empower the Bifrost parachain auction and obtained 35,000 visits in 14 days, and successfully attracted more than 50,000 KSM votes, currently ranking the first candidate in the 5th slot of Kusama.

Development

Bifrost Node

• Complete test/upgrade Bifrost.js

• Genesis reconciliation, import CSV data into the database for statistics

• Adjust the running time of Kusama to speed up the parachain registration speed in the test

• CI error handling

• Complete rustfmt

• Change the runtime directory structure

• Test action/cache

• Optimize asgard runtime

• Add vesting, bounty, tip, proxy, multisig and other modules to asgard runtime

• Bifrost upgraded to polkadot-v0.9.8

• Test Bifrost mirroring

• Bifrost code review

• Delete asgard-cc4 voucher module

• Refactor the primitives module and delete unused types

• Refactor asgard runtime, abandon json data

• Westend collator node deployment

• Register & run bifrost-westend collator, and successfully produce blocks

• Upgrade asgard cc4 to the latest version

• Update the docker image to bifrostnetwork/bifrost:v0.8.0_1

• contribute & s2s bridge upgrade code review

• Integrate part of the xcm structure code

• rococo runtime fix

• benchmark test integration

Bifrost Dapp & Dashboard

• Update Bifrost Dashboard balance error and types

• vsBond api docking, complete creation/cancellation/display api

• API call issues caused by Bifrost type issues

• Dashoard optimizes the custom asset drop-down list

• SALP process optimization & testing

• Code review & add more unit tests in SALP

• Complete the reconstruction of vsbond-auction

• SALP adds refund and redeem pool

• Perfect vsbond auction

• The Deposit module iteratively adapts to the latest incentive rules

• Upgrade bifrost.js, fix Dashboard balance display problem

• Fix Dapp bugs

• Completed the vsbond market module docking

• Complete the docking of swap and add & remove liquidity modules

vsKSM Mint Drop

• Adjust the existing code to achieve 2 times reward

• Realize 7/24 invitation code registration

• Front end solves type bugs

• Show Free balance + overall balance logic adjustment

• Invitation code logic update

• Phase target rewards are written, and trigger tests are performed

• vsKSM Mint Drop activity page V1.1/V1.2 iterative update

• Kanaria NFT support

• Fix the data problem of the leading value progress bar

• Add the trigger logic of Asgard hero target value, grab the trigger address and record it.

• Launch Asgard hero function

Ecosystem

• On June 30th, Bifrost announced the slot bidding sprint plan. The overall reward was increased to 200%, from the original 1 KSM: 11 BNC to 1 KSM: 22 BNC. The overall reward was increased to 200% for a limited time. Minting channel: https://ksm.vtoken.io/

• On July 2nd, Bifrost Cofounder Lurpis was invited to HappyBlock forum, analyzed Bifrost slot auction sprint plan rewards, release rules, and SALP protocol, AMA review: https://mp.weixin.qq.com/s/jSIVgCyqxIFJ7tGUmTDnSA

• On July 3rd, the Polkadot & Friends offline Polkadot party hosted by PolkaWorld was held in Hangzhou. The theme of the event is Kusama Parachain Slot Auction & Crowdloan. Under the topic of how to achieve interoperability in the multi-chain era, Polkadot ecological projects Bifrost, Acala, ChainX, Plasm and Zenlink attended the forum.

• On July 5th, the online AMA hosted by PolkaBase-how Polkadot would expect to see the Kusama slot auction, invited Tyrone. Regarding how to look at the solutions and positioning of the currently obtained slot projects, Tyrone said that for Bifrost, Kusama’s parachain bidding costs are more in line with Bifrost’s expectations. Since Bifrost, as the basic DeFi protocol, requires a large number of transaction messages to be sent and invoked on the main network, the parachain is just needed for Bifrost. The sooner the parachain is taken, the more value it will generate to Bifrost and the project parties that bid for the parachain.

• On July 5th, PolkaWarriors invited Lurpis to have an online AMA in its Telegram Global community. Question: What are the benefits of Bifrost Token (BNC) for the correct operation of the network? Why is it necessary? How does it arrange incentive mechanisms between vote pledgers and vote consumers? Lurpis stated that BNC will capture value in four aspects, namely: derivatives liquidity fees, bidding Slash collateral, governance certificates, and staking income capture. Details: https://dotmarketcap.com/blog-detail/268/ama29-recap-polkawarriors-x-bifrost

• Token Hunter X Bifrost was held on July 7th in the Telegram community @tokenhunter_official. How does Bifrost ensure the safety of parachain lock-up funds? How to ensure liquidity under continuous selling pressure? On this issue, Tyrone said that the Kusama parachain guarantees the security of Bifrost’s locked assets at the consensus level through shared security. Bifrost guarantees the depth of liquidity under extreme conditions by aggregating the liquidity of heterogeneous chains. Details: https://wiki.bifrost.finance/publicity/crowdloan-multi-signer

• On July 7, Polkadot: An online AMA with the theme from technology to application was organized by TopDao. Acala, Litentry, Darwinia, Bifrost, SubQuery and Apron Network were invited to participate in the Polkadot roundtable discussion. Details: https://www.qianba.com/news/p-426505.html

• As the fourth slot entered the Ending Period, Bifrost also held an online Q&A AMA in the Telegram community. Regarding the slot auction, Bifrost Product Manager Tyrone answered various questions raised by Followers. Details: https://app.subsocial.network/@Bifrost/bifrost-ama-recap-jul-8th-18905

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

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