Bifrost is a Singapore-based DeFi protocol that provides an intermediate layer between staking and application layers to unlock liquidity for PoS tokens. Users can swap PoS tokens into protocol-issued vTokens (for example, vDOT for Polkadot), which are tradable and usable in DeFi applications. The vToken mechanism is designed to preserve staking security while providing liquidity and to enable staking rewards in cross-chain scenarios. Bifrost aims to resolve competition between staking and DeFi rewards by allowing users to obtain staking rewards while accessing liquidity for DEXs, liquidity mining and other DeFi fields. The project completed a $600,000 seed round in September 2020 with investors including NGC Ventures, SNZ Holding, Consensus Lab, Digital Renaissance, Youbi Capital, DFG and Longhash. Bifrost said participating investors include early Polkadot and staking-related institutions expected to provide parachain slot auction and staking liquidity business support in the future.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Sep 2020