What is Bifrost Finance (BNC)?
Bifrost Finance is a cross-chain network built on Polkadot's substrate. The Bifrost Finance project will provide liquidity for staking assets on this platform. In addition, Bifrost Finance was created to solve staking issues, such as staking interest rates of DeFi projects built on the Proof-of-stake consensus mechanism are quite low.
What problem does Bifrost Finance solve?
When investors bring their tokens to participate in Staking to receive rewards in DeFi projects built on the consensus mechanism (Proof-of-stake), they will not be able to use it to participate in other activities. of decentralized financial applications and vice versa. Bifrost Finance solves this problem by providing an intermediary platform between the Staking layer and the application layer called Bifrost Parachain.
With Bifrost Parachain, investors can staking tokens (DOT, ATOM, EOS…) to receive vToken (vDOT, vATOM, vEOS…) and then use them to participate in activities on decentralized finance applications. mediums such as swaps, loans and borrowings…
What problem does Bifrost Finance solve?
Highlights of Bifrost Finance
vToken is created by users (minted) by staking their assets on Bifrost Finance. This token will be used as collateral to borrow as well as provide liquidity for DeFi projects or DEX exchanges. This token also has 6 characteristics as follows:
Transparency : All vToken operations are transparent on Parachain.
Participation in governance (Governance) : vToken owners have the right to participate in the system administration process as well as they can contribute ideas to help developers build the Bifrost Finance project.
Using cross-chain technology : vToken has the ability to interact between two or more different blockchains without the need for a 3rd party.
Flexibility and Alternative (Fungible) : No matter which investor stake vToken with validator will receive vToken and reward.
In addition, vToken is scalable.
Development team, investors and partners
Bifrost Finance's development team
Bifrost Finance is developed by Bonnie, Tyrone Pan and several other engineers.
Bifrost Finance's development team.
Investor of Bifrost Finance
Bifrost Finance is invested by large funds such as NGC Ventures, Youbi Capital, DFG, Bitrise Capital, BlockHunter Capital, Chain Capital, Consensus Lab…
Investor of the Bifrost Finance project.
Partner of Bifrost Finance
Bifrost Finance has attracted many partners such as Darwinia, MathChain, SubQuery Network, Karura ...
Partner of Bifrost Finance.
Development roadmap
The Bifrost Finance project will deploy:
Bifrost Finance will implement this phase as:
Bifrost Finance is expected to do the following:
What is BNC?
BNC is the official token of the Bifrost Finance project, it is used to:
As transaction fee : Investors will use BNC to pay swap fees, add liquidity on Bifrost.
Collateral to become a node : Investors need to collateralize BNC to become a node on the Bifrost network.
Participation in governance (Governance) : BNC token holders have the right to propose and contribute ideas to help developers build the Bifrost Finance project.
Capture of Staking Reward : The Bifrost project will use its own generated Staking rewards to redeem BNC tokens and put them in the Vault. This will help the value of the BNC token grow.
Some basic information about the BNC . token
Token Allocation
Allocate BNC tokens.
How to own BNC . tokens
Currently the BNC token is not listed on cryptocurrency exchanges. However, investors can mint vToken to be rewarded with BNC. In the near future, the TraderH4 team will update immediately after the official announcement of the BNC token listing of the Bifrost Finance project.
Above is all information about the Bifrost Finance project and the BNC token. With the above mentioned contents, it can be seen that Bifrost Finance is a project that provides a great solution for investors to get profits from Staking. At the same time, they can bring that asset to participate in other profit-making activities such as lending, providing liquidity for DeFi projects, or DEX exchange… In addition, Bifrost Finance also won the first Parachain auction. 5th on Kusama with raised capital of 136,817 KSM. Thereby, it can be seen that Bifrost Finance has attracted the attention of many investors. In the near future, in addition to the above features, Bifrost Finance will launch more swap and add liquidity features right on this platform.
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