In November 2021, Bifrost announced its support for the Darwinia crowdloan, the Web3.0 Cross-Chain Bridge Hub. Bifrost is committed to providing liquidity to locked assets between multiple chains and establishing a liquidity bridge between heterogeneous chains.
During this Polkadot crowdloan event, Bifrost will cooperate with Darwinia to help crowdloan participants access liquid derivatives of staked DOT, creating innovative solutions for users participating in the Polkadot crowdloan and competitive opportunities under the multi-chain development pattern.
Bifrost’s advantage is to mint fully decentralized liquid derivatives based on the Kusama Parachain, and provide rich derivatives use cases for contributors participating in the Darwinia crowdloan, including derivative farming, liquidity mining, swaps and cross-chain token swaps. Support for the Darwinia crowdloan event will help Bifrost unlock a new opportunity with the Darwinia community to introduce the Slot Auction Liquidity Protocol (SALP), and encourage more users to participate in the Darwinia crowdloan.
Darwinia Network is a decentralized cross-chain bridge network building on Substrate, which is the “cross-chain bridge hub” of the Web 3.0 Metaverse. It provides a safe and general bridging solution, connecting to Polkadot, Ethereum, TRON, and other heterogeneous chains by cross-chain transfer of assets and remote chain calls. Darwinia has been contributing to the compatibility and interoperability of the Metaverse.
Bifrost uses a combination of Polkadot multi-signature + Kusama Parachain for the SALP, to provide a more complete experience for the Darwinia crowdloan. This innovative crowdloan liquidity solution will give users the opportunity to increase capital utilization during the 96-week crowdloan lock-up period and make choices about their own risk appetite. Darwinia will assist Bifrost, provide technical support in the crowdloan docking process, and promote the long-term cooperation between Bifrost and Darwinia.
The integration is in the first phase, and a final version will be released once Bifrost onboards as a Polkadot Parachain. The multisig will be represented by onchain logic under the Bifrost SALP pallet, which will be the same as the Bifrost SALP mechanism on Kusama. Learn more about how SALP will evolve to full decentralization. Bifrost SALP for the Darwinia Crowdloan had already launched on https://bifrost.app/vcrowdloan, welcome to try it.
Darwinia Crowdloan Rules
Darwinia Network has allocated 10% of its native token RING’s total supply to fund the Polkadot slot auction. The rewards pool value exceeds $20M at the time of writing this post.
Available to win whether Darwinia gains a parachain slot or not:
- 1 BTC
- Metaverse NFT blind box packages (including Metaverse game Evolution Land assets, limited-editions of commemorative medals, and hidden collaborative NFTs with other star Metaverse projects)
Unlock when Darwinia wins a parachain slot:
- 200,000,000 RING
- 8,000 KTON
These rewards will be shared by our contributors. We also offer four incentive mechanisms to boost your rewards.
1. Contribution Pioneers
- Reward: 1 BTC proportionally distributed among the top 5 contributors based on their contribution amount.
- Qualifications: Contribute more than 10,000 DOT by the start of Polkadot’s Batch 2 auction (December 23, 2021); Ranking in the top 5 contributors.
- Rewards Distribution Time: Will be released immediately when the Batch 2 auction starts.
2. The Metaverse NFT Blind Boxes Airdrop
- Rewards: Limited-edition Metaverse NFT blind boxes, including Evolution Land Raffle Tickets, PLO commemorative medals (a total of 1,000 will be randomly distributed), and hidden collaborative NFTs with other popular Metaverse projects.
- Qualification: Contribute ≥10 DOT during the entire Darwinia crowdloan.
- Rewards Distribution Time: Will be released immediately after the Batch 2 auctions end (March 10, 2022).
- Rewards Details: Evolution Land’s NFT prize pool includes a total of 200 NFT lands, 400 NFT generation-0 apostles, and 400 treasure chests. One or more of which can be randomly obtained. Each unique address can obtain a maximum of one blind box.
3. Referral Program
- Basic Referral Reward: +5% for both the referrer and the referee.
- Qualification: You and your friend contribute to Darwinia crowdloan via the same referral link that is generated at the Darwinia PLO page.
- Advanced Referral Leaderboard Bonus: More amount of DOT will be contributed via your referral link, the higher you will move up the leaderboard. The top 10 contributors will receive up to an extra 3% boost, which means you can get as much as an 8% referral reward.
4. Early Bird Program
- Rewards: Up to 120% rewards boost.
- Qualification: Contribute before the start of Polkadot’s Batch 2 auction (December 23, 2021).
- Detailed Algorithm:
(1) Pioneer Stage (120% reward boost): from the start of the Darwinia crowdloan to the end of the batch 1 auction (December 23, 2021). During this stage, contributors will receive a 120% reward boost.
(2) Regular Stage (100% reward): from the start of the batch 2 auction (December 23, 2021) to the winning auction’s candle light-up time. During this stage, contributors will receive a 100% of the reward.
(3) Final Stage (100% to 0 linear regression): from candle light-up time to the result-determine block within the winning auction. During this stage, rewards will reduce linearly to zero.
About Darwinia Network
Darwinia Network is a decentralized cross-chain bridge network building on Substrate, which is the “cross-chain bridge hub” of the Web 3.0 Metaverse. It provides a safe and general bridging solution, connects to Polkadot, Ethereum, TRON, and other heterogeneous chains by cross-chain transfer of assets and remote chain calls.
Darwinia Network has gained high reputation and recognition along the way to build the decentralized cross-chain bridge protocol. In 2020, Darwinia was written in Polkadot light-paper as one of the friends of Polkadot and Substrate. And Darwinia was selected to join Substrate Builder Program and Web3.0 Bootcamp, and for the outstanding work in Substrate Builder Program, Darwinia Network was officially awarded the Level 2 badge by Parity. The products and tools developed by Darwinia have been rewarded three W3F Grants.
Darwinia has been contributing to the compatibility and interoperability of the Metaverse. The application areas of Darwinia Network include DeFi, cross-chain NFT trading, games, etc. Darwinia also develops the Metaverse game Evolution Land.
What is Bifrost?
Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for staked assets to provide liquidity. Bifrost launched derivatives vToken for Staking and Polkadot Parachain Slot (Crowdloan). It has obtained $2.15M in fund-raising from NGC, SNZ, DFG, CMS and other institutions and Web3 Foundation Grant. It is also a member of Substrate Builders Program and Web3 Bootcamp.
vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, CEX, and realize the transfer channel of stake rights such as staking and Crowdloan through vToken, realize the risk hedging of stake assets, and expand scenarios such as vToken as collateral for lending, its staking reward part of the interest can be offset to achieve low-interest loans.
Bifrost SALP Supports the Darwinia Crowdloan was originally published in Bifrost — DeFi for PoS. Staking and Liquidity. on Medium, where people are continuing the conversation by highlighting and responding to this story.