SubWallet is happy to announce the partnership with Bifrost Finance - a parachain designed for staking's liquidity, allows users to stake any cryptocurrency, and receive a vToken of equal value in exchange.
About Bifrost
Bifrost is a project built on Kusama that allows users to participate in decentralized finance (DeFi) applications while earning staking rewards on their cryptocurrency.
Cryptocurrency staking allows users to lock their tokens into smart contracts to earn staking rewards. However, one of the major limitations with traditional staking is that those who lock their cryptocurrency cannot access their funds to participate in various DeFi activities.
The Bifrost team aims to remove this particular blocker by introducing liquid staking, a concept that allows users to stake any cryptocurrency using the Bifrost platform, such as DOT or ETH, and receive a vToken of equal value (vDOT or vETH) in exchange.
There is a remarkable thing in Bifrost’s development with the bi-directional cross-chain channel between Statemine and Bifrost.
About SubWallet
SubWallet is a user-friendly Web3 Multiverse Gateway for Polkadot and Kusama ecosystem. SubWallet provides the simplest and most secure way to connect to blockchain-based applications like DeFi and GameFi.
Why SubWallet x Bifrost Finance?
SubWallet wants to improve our users’ benefits by this corporation with Bifrost Finance. Bifrost SALP seemlessly integrated into SubWallet such that our users can make use of it when looking to contribute to crowdloans. By the integration of SubWallet to Bifrost app, our users are able to:
Contribute to crowdloans and crowdloan management (claim rewards, redeem)
Farming
Swap via Zenlink
Staking $BNC
Cross-in, cross-out assets
Manage NFTs rewards: Incoming Sora NFTs rewards and later with others NFTs rewards
Bio-direction cross-chain KSM from Kusama to Bifrost
Transfer $BNC using SubWallet
Ongoing features:
Checking vsToken balance (ORML Token) in SubWallet
Mint vsToken in Crowdloan (learn vsToken and SALP protocol)
Mint vToken (staking derivative, Bifrost is developing vKSM for KSM staking now)
Our co-marketing activities:
We also do our partnership to help improve both our products & communities
Partnership announcement
Promote each other on media channels: Telegram, Discord, Twitter, Medium
Create instruction articles on how to use SubWallet and Bifrost and translate to multiple languages (Ex: - English, Vietnamese, Chinese, Korean, Espanol, …)
Co-host AMA sessions to educate users about SubWallet & Bifrost among our communities
Connect to potential partners in both sides’ ecosystems
Stay tuned and wait for next great things with our partnership.
Install SubWallet:
Google Chrome, Brave, MS Edge: https://bit.ly/3BGqFt1
Firefox: https://mzl.la/3rQ0awW
Join our Community!
To find out more about SubWallet, join us on our Discord server and talk to our helpful SubWallet team members and other users. For those who want some more background information on SubWallet and what it’s all about, our website and SubStack page are the perfect places to start.
