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Monthly Report | vDOT Minting Volume has surpassed 2.7 Million, while the total Bifrost TVL reaches $40 Million

Monthly Report | vDOT Minting Volume has surpassed 2.7 Million, while the total Bifrost TVL reaches $40 Million

Developments

Bifrost v0.9.84

  • The Vtoken-voting module has fixed bugs related to user voting amounts, proxy address voting amounts, and proposal status.
  • The Xcm-interface module has fixed the issue of overcharging transaction fees when transferring USDT to AssetHub.
  • The SLPx module has removed the minimum reserve amount requirement for minting vToken accounts.
  • The Stable-pool module has updated modify_fees and fixed overflow error.
  • The Opengov module has updated the functionality of CoreAdmin and TechAdmin.

Optimizing Council Seat Display:

  • Updating fellowship permissions
  • Removing ED retention logic when crossing out of SLPx assets
  • Fine-tuning details in the vTokenVoting module
  • Optimizing cross-chain transaction fee collection logic
  • Improving precision in Stable pool calculations

Product

  • In terms of liquidity derivatives, vDOT had a net monthly increase of 1,264,256 tokens, with a total supply (TVS) surpassing 2,750,000 tokens, representing a 46% monthly growth. This month’s total value locked (TVL) in Bifrost is $39,987,390.
  • The Bifrost SLPx protocol has been launched on Moonbeam, allowing users to directly perform automatic cross-chain minting of vDOT, vGLMR, and other LST tokens on the Moonbeam EVM environment through omni.ls.
  • Moonbeam Dex protocol Stellaswap has launched farming pools for xcvDOT/xcDOT, xcBNC/xcDOT, and xcvFIL/xcFIL on the 24th of this month. Visit https://app.stellaswap.com/zh-CN/pulsar to participate in Yield Farming with exclusive DOT unlock rewards.
  • Moonbeam Dex protocol Beamswap has launched farming pools for xcvDOT/xcDOT, xcBNC/xcDOT, and GLMR/xcvGLMR on the 24th of this month. Visit https://app.beamswap.io/farm to participate in Yield Farming with exclusive DOT unlock rewards.
  • Interlay #82 democratic referendum has been executed, and vDOT has officially joined the Interlay Lend Market. Users can borrow vDOT by collateralizing any assets such as IBTC, USDT, DOT, or vDOT on the Interlay Dapp, and manually execute leveraged staking to earn staking rewards with vDOT. For leveraged staking examples, please refer to the proposal details: https://interlay.subsquare.io/democracy/proposals/82 Interlay Dapp: https://app.interlay.io/lending

  • This month, Bifrost introduced a new vToken derivative for Astar called vASTR. Users can experience liquidity staking for ASTR by visiting https://bifrost.app/vstaking.
  • The on-chain governance feature for LST, vToken Voting, is being tested. vToken Voting will allow users to view proposals in Polkadot OpenGov and lock vDOT to participate in proposal voting on bifrost.app. This feature is expected to go live in November. Visit the vToken Voting introduction document at https://docs.bifrost.finance/quick-start/lst-voting.

Marketing

  • On October 12th, Bifrost and Odaily held an online event for the omni-chain Liquid Staking developer kit — Bifrost SLPx. The event focused on the development direction of Bifrost’s expansion module SLPx, aiming to gradually realize the vision of using any LST on any chain.
  • On October 13th, the Bifrost Polkadot Unlock Harvest warm-up event began. Users who have successfully participated in the first round of Polkadot slot auctions can receive a special airdrop and get 2000 basic Raindrops. They can also share the BNC prize pool of the warm-up event based on the proportion of Raindrops points earned during the warm-up event.
  • On October 23rd, Bifrost Cofounder Lurpis was invited to an interview hosted by Bluemountain Labs, discussing the impact of the first round of Polkadot crowdloan and how retail investors should respond.
  • On October 24th, the Polkadot Unlock Harvest event officially began. Users could participate in the limited-time event on the Bifrost Dapp and share a BNC prize pool of 350,000 by using Raindrops points. https://twitter.com/0xBifrostCN/status/1716646405572640968
  • On October 30th, PolkaWorld hosted one AMA called Crowdloan, Coretime, and the Future of Polkadot. Our Product Manager Tyrone joined and shared Bifrost’s latest LST achievements on Polkadot and the upcoming challenges for the ecosystem.
🔊 vASTR on zkEVM - Important Announcement 🔊

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