On September 16th, vDOT, the third vToken based on the SLP protocol, goes live on bifrost.app! The SLP protocol ensures users receive seamless liquidity access thanks to Bifrost’s deep cultivation of the Staking derivatives track to release the liquidity of Staking, while also encouraging high returns and promoting liquidity freedom.
As we previewed in our article “vDOT is coming soon! A Preview of its Core Benefits”, vDOT will offer several benefits to participants. One of the most rewarding and highly actionable is the vDOT launching campaign, RainDOT — Rainbow Boost lands on Polkadot, which will go live on 16 September 2022.
RainDOT Campaign Period
✅ Open: 16 September 2022 | 10 AM UTC
Close: 23 September 2022 | 10 AM UTC
RainDOT Campaign page: https://bifrost.app/dashboard/boost
RainDOT Rules
RainDOT has designed Raindrops similar to a point system as a standard for recording user behavior. The points earned by addresses that exhibit specific behaviors during the Rainbow Boost open window period reflect the user’s activity and participation. They will also become the only criterion for obtaining active airdrops.
RainDOT incentivizes users to:
- Mint vDOT
- Participate in more staking investments
- Get more benefits from the Bifrost community
- Enjoy the benefits of staking and liquidity
In short, you will earn Raindrops by fulfilling incentive behaviors during the campaign, and the accumulation of Raindrops will entitle you to BNC drops, the NFT whitelist and other community perks and privileges. The incentive behaviors and their Raindrops that qualify for this campaign are as follows.
Incentives to Gain Raindrops
- Earn 200 Raindrops for every vDOT minted
- Addresses who have participated in DOT decentralized staking can get 500 Raindrops for free unconditionally
- After inviting DOT Staking friends to successfully claim 500 Raindrops, the inviter and the invitee will each receive 200 Raindrops
vDOT Minting Multiplier
In addition to fulfilling the incentive behavior to directly obtain Raindrop, the following behaviors will add to the user’s existing Raindrop to achieve passive growth of the participating user’s Raindrop, resulting in higher returns.
DOT Staking Multiplier
According to the minting multiplier and snapshot of the number of decentralized participation in DOT Staking on September 13, 2022, the following figure is shown:
BNC Staking Multiplier
The BNC staking amounts and multiplier are shown below:
RainDOT Incentives
vDOT Farming
As a single-token lossless farming module, vDOT farming has no loss risk of the principal invested by users. Users participating in vDOT Farming will receive a much higher APR than usual during the RainDOT event. vDOT Farming will last for seven days with a total incentive of up to 15000 BNC.
NFT Whitelist
According to Raindrop’s points ranking, this RainDOT will release 200 Back to Asgard NFT whitelists. Users who hold the Back to Asgard NFT whitelist can enjoy discounts on NFT incubator purchases. The total number of NFT whitelists is 1000. At present, more than half of the 1,000 whitelists have been released, and the number of places is limited, don’t miss it!
Note: 200 NFT lists will be sent based on Raindrop rankings. However, if any of the top 200 addresses this time have been whitelisted before, the quota will be automatically extended.
More Raindrop, More airdrop rewards
The day after the RainDOT event, the airdrop will begin on 24 September and will be open to all Raindrop-holding addresses. The top 5 Raindrop holders will receive a direct ranking airdrop based on their ranking. The remaining addresses will continue to split the prize pool based on the number of Raindrop holders. Please stay tuned as the exact amount will be announced on 24 September!
Please also note that the way to receive the airdrop is that you need to manually claim it by yourself, and the validity period for claiming the reward is 6 months.
RainDOT Launches Tomorrow! Start Minting vDOT and Earn Raindrop Points 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.
