BIFROST AND LOOPRING COLLECTIVELY ACCUMULATE LIQUIDITY FOR DERIVATIVES

WHAT IS BIFROST?

Bifrost is a cross-chain network that provides linked assets with liquidity. It uses staking as the first step to provide liquidity in the form of staking derivatives. Bifrost is based on the Polkadot network and was developed by Substrate and the underlying layer is based on the consensus of LIBP2P, WebAssembly, and GRANDPA.

Bifrost provides an intermediate layer between staking and the application layer. The reward competition of staking and DeFi is resolved by creating an integration between staking and the underlying protocol-based application layer from top to bottom. Instead of being parallel to each other, With this mechanism, individuals can convert PoS tokens into vToken at any time using the Bifrost Network.

Every PoS token corresponds to a different vToken such as the Polkadot vDOT bridge token. vETH bridge Ethereum Token etc.

The way to solve such problems is to make staking derivatives available with a trading scenario to meet Bifrost’s liquidity needs with the built-in vTokenSwap (AMM trading pool). This enables trading between 64 pairs in 8 pools in a single currency.

Bifrost is a DeFi infrastructure protocol for the Polkadot ecosystem that aims to be an infrastructure to provide share liquidity. Currently, it offers a derivative vToken for Polkadot Lease Offering (PLO) offerings. It is also part of the Substrate Builders program and the Web3 boot camp. vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, and CEX.

The Bifrost vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, and CEX. vToken can be used to enforce the transmission channel for management rights such as attendance and PLO and to protect against asset participation risk. In advanced scenarios. If vToken is used as collateral for loans, investment income can offset some interest and issue low-interest loans.

Bifrost is pleased to announce that its Network and Loopring have entered into a strategic partnership within the framework of the Loopring protocol Ethereum Layer 2 (Layer 2 network) to jointly expand the liquidity of the vToken derivative.

Loopring is the first Layer 2 extension technology protocol on Ethereum, and Vitalik has mentioned Layer 2 as the new roadmap’s focus. Using the Zero Information Proof Rollup technology, the throughput of Ethereum has increased from 15 trades/sec. To 3000 trades/sec. At a very low transaction fee.

Loopring is Ethereum based Exchange and only zkRollup DEX. It is a fully unmanaged order book exchange that can replicate the powerful trading experience of core exchanges. This means that users can trade quickly and cheaply without worrying about Ethereum congestion or gas charges while managing and controlling their own assets. Loopring Exchange is based on the open-source loop ring protocol.

Loopring Exchange also works as a payment application, as it is compatible with Loopring Pay, which was recently launched. Any user can send ETH and ERC20 token transfers instantly, cheaply and securely to any other user on zkRollup.

Bifrost, DeFi’s core protocol that provides liquidity for pledged assets in the Polkadot ecosystem, has launched the vETH derivative for ETH 2.0 staking. As a substrate-based ERC 20 double protocol unit, vETH can be used in the Ethereum and Polkadot ecosystems. This prototype of an environmentally friendly collaboration is the connectivity of the Polkadot and Ethereum applications.

Simultaneously, the Loopring Protocol will begin a 14-day multi-mining operation, which started on January 7, 2021, including layer 2 AMM liquidity mining, AMM trading tournament, and the first pair, vETH. Liquid mining operations. It is listed. More details about VETH Liquidity Mining was announced on January 5, 2021.

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