Bifrost received a new round of angel financing, several leading institutions participated in the investment.
On January 28, 2021, Bifrost angel financing round ended with the participation of: CMS Holding, Altonomy, Sevenx, Zonff Partners, PAKA, Timestop Capital, InCuba Alpha, Oasis Capital, Kernel Capital and Loopring co-founders Jay Zhou,Steve Guo and other investors. There are two institutions which join the seed round but still invest more at this second round: SNZ Holding and DFG. This angel financing round has reached $1.55 millions.
Until now, they have completed more than 80% of their basic function development and have already had over 8200 active addresses on chain. In Asgard Testnet, there were 1,231 running nodes across 7 countries. There were 66,385 times of EOS cross-chain during the testnet.
Bifrost expects to test Rococo parachain, release EOS jungle testnet and launch Bifrost Asgard CC1.
About Bifrost
Bifrost is a Polkadot Ecosystem DeFi infrastructure protocol that aims to become an infrastructure for providing Staking liquidity, and currently offers a derivative vToken for Staking and Polkadot Lease Offering (PLO). It is also a member of the Substrate Builders Program and Web3 Bootcamp. vToken can optimise transactions in multiple scenarios such as DeFi, DApp, DEX and CEX.
vToken can optimise transactions in multiple scenarios such as DeFi, DApp, DEX and CEX. vToken can be used to realise the transfer channel of governance right such as Staking and PLO to hedge the risk of Staking assets. In extended scenarios such as when vToken is used as collateral for lending, the staking proceeds can offset part of the interest and realise low-interest lending.
