Bifrost Finance, a project positioned in the DeFi basic protocol in the Polkadot ecosystem, recently announced the successful completion of a seed funding round, raising $600,000 from top investment institutions. The project aims to solve the problem of competition between DeFi and Staking rewards in the DeFi market, offering a solution that optimizes the interests of users in the DeFi field.
- Investors in the seed round include NGC Ventures, SNZ Holding, Consensus Lab, Digital Renaissance, Youbi Capital, DFG, Longhash, etc.
- Bifrost aims to solve the problem of competition between DeFi and Staking rewards in the Polkadot ecosystem.
- The project provides an intermediate layer between staking and the application layer to change the relationship from parallel to top and bottom compatible, solving the problem of competition for users.
- Bifrost designed a mechanism to allow users to swap PoS tokens into Bifrost vTokens through the Bifrost protocol, each PoS token corresponds to a different vToken.
- The liquidity of vToken provides the liquidity and security of the PoS network, solving the mutual exclusion problem.
- The cross-chain feature built in the parachain through vToken enables Staking reward in cross-chain scenarios, solving the problem of obtaining Staking reward in cross-chain scenarios.
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