The auction for the first set of Kusama parachain spaces ended at 8:17 a.m. UTC on July 20, with Bifrost successfully bidding for the 5th spot with 142,430.9241 KSMs, which was more than the quantity of KSMs bid for the first two seats. The remaining 5,614.7220 KSMs will be injected into Bifrost SALP’s (Slot Auction Liquidity Pool) as base liquidity for vsKSM, giving mint users derivative liquidity vsKSM in the early days of staking.

Bifrost will then deploy the modules after they have linked to the parachain and finishing the SWAP module’s code audit, and issuing BNC awards and vsToken liquidity derivatives. Following a successful slot auction.

Slot Auction Liquidity Pool (SALP)

Bifrost delivered the first Slot Auction Liquidity Protocol on April 21 after vToken successfully supplied ETH 2.0 Staking liquidity using the SLP protocol. Some Polkadot ecology project partners have already talked about SALP’s willingness to help with liquidity, and Bifrost will enable additional ecological initiatives to compete for slots through SALP in the future.

Period of Reservations

The vsKSM Mint Drop reservation campaign fired the first shot at the Bifrost slot auction on May 12, 34 days before the official Kusama parachain sale. With 43,720 addresses and 445.41 vsKSMs produced, almost 13% of Kusama addresses engaged in the Bifrost reserve campaign. The top three invitation codes filled in the most are CHUNGE, POCKET, and CL6217, which were used 1,792, 1,482, and 779 times in the reservation activity.

Guaranteed rewards are the minting and inviting rewards during the reservation term. During the reservation time, a total of 9,732.0701 BNCs will be granted, comprising 8,908.2 BNCs for the reserved mint and 823.87 BNCs for the friends invite. Once the Bifrost Dapp implements the check feature, the assured and success incentives will be sent to the address of your KSM minting address. On the Dapp, vsKSM and vsBond may need to be claimed manually.

About Bifrost

Bifrost is The Polkadot Ecological DeFi fundamental protocol. It is dedicated to establishing a liquidity infrastructure for pledged 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, other institutions, and a Web3 Foundation Grant. It’s also a part of the Web3 Bootcamp and the Substrate Builders Program.




Blockchain and cryptocurrency enthusiast/ambassador

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Examples of Crypto Capital Venture Firms

Bitcoin’s Next Big Software Upgrade to Feature New Language for Crypto Keys

The Sapien AMA! (9/20/18)

Davor is Gone. Now What?

New Crypto ATM now available for use at INK-OGNITO TATTOO

A new crypto ATM is online and ready to use in Rybnik, Poland.

New Pyth Data Provider: Wintermute

iBG Finance

FNDZ Weekly Contest

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Samson Dogo

Samson Dogo

Blockchain and cryptocurrency enthusiast/ambassador

More from Medium

Treasury DAOs, A scam or the future?

Loup TV 159: Ford Re-Org Underscores EV Adoption Will Take Time; Peek Performance Will Highlight…

Why I use a hardware crypto wallet and how it can protect you too

It’s the future. Everything is possible.