Bifrost Finance is pleased to announce that Kraken, the world’s largest cryptocurrency exchange by trading volume in euros, will accept Bifrost’s Kusama parachain crowdloan, allowing Bifrost to reach a significantly wider audience of blockchain participants throughout the world. Clients of Kraken will be able to donate directly to the Bifrost crowdloan without leaving the exchange.
Bifrost will participate in the first Kusama parachain auction as one of the Polkadot ecosystem’s first ventures.
More than 7 days will be set out for Kusama holders to complete the unstake in advance of the first slot auction.
Kusama holders, including Kraken customers, will be able to participate and receive dispersed benefits through Kraken at that time. Kusama holders can also contribute to Bifrost’s crowdloan through the Bifrost vsKSM Mint Drop.
The Polkadot Ecological DeFi fundamental protocol is Bifrost. It is dedicated to becoming a liquidity infrastructure for staked assets. Bifrost released the vToken for Staking and Polkadot Parachain Slot variants (Crowdloan). It has raised $2.15 million from the NGC, SNZ, DFG, CMS, and other institutions, as well as a Web3 Foundation Grant. It’s also a part of the Web3 Bootcamp and the Substrate Builders Program.
vToken can optimize transactions in a variety of scenarios such as DeFi, DApp, DEX, CEX, and realize the transfer channel of stake rights such as staking and Crowdloan through vToken, realize risk hedging of stake assets, and expand scenarios such as vToken as collateral for lending, where the staking reward part of the interest can be offset to achieve low-interest loans.
Bifrost is a Polkadot Ecosystem DeFi technology that promises to provide staking liquidity, with a derivative vToken for Staking and Polkadot Lease Offering presently available (PLO). It’s also a part of the Web3 Bootcamp and the Substrate Builders Program. vToken is capable of optimizing transactions in a variety of circumstances, including DeFi, DApp, DEX, and CEX.