Bitfrost (BNC)

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 Basics

"Bifrost is a cross-chain network which provides liquidity to bonding assets. It takes advantage from Staking as the early stage to provide liquidity in the form of Staking derivatives."

History

Token

Launch

Token allocation

Utility

  1. "Liquidity commission for derivatives: Transfer, transaction, mortgage and other behaviors in Bifrost network all need to pay a certain commission to maintain the network. BNC that used to pay commission will be sent to the Treasury for further administration and distribution. (All kinds of tokens can pay commission)
  2. Slash collateral: Participating nodes will be required to pledge part of BNC to obtain votes from the asset of Staking pool, while increasing the cost of Slash. Slash collateral will be increased or decreased based on the node's performance score.
  3. Governance Voucher: BNC can be used on on-chain parliament, technical committee, Treasury allocation, referendum governance, node election and other chain governance functions, hold BNC can get a right in Bifrost network governance.
  4. Capture of Staking Reward: Part of the Staking reward generated from Bifrost will be used for BNC repurchase and put into the State Treasury."

Token Details

"Bifrost Native Token (BNC) is the main net Token of Bifrost, the initial total supply is 80000000. Currently, in the Bifrost test network, BNC vouchers that can be exchanged 1:1 in the main network can be received for earlier stages of community distribution."

  • Will have vTokens which will be liquid versions of staked assets.

Stablecoin

Technology

  • Programming language used:

Transaction Details

How it works

Mining

Staking

Liquidity Mining

Layer Two

Different Implementations

Interoperability

"Support to cross into other chains through polkadot relay"

The website mentions Ethereum 2.0, Cosmos, Kusama, EOSIO and IOST.

Other Details

Privacy Method being used

Compliance

Oracle Method being used

Their Other Projects

DEX

Governance

"Business parameters can be adjusted through the democratic governance"

DAO

Treasury

"Part of the Staking reward generated from Bifrost will be used for BNC repurchase and put into the State Treasury."

Upgrades

Roadmap

  • Can be found here (11-11-2020).

Audits

Bugs/Hacks

Usage

Projects that use or built on it

Competition

Coin Distribution

Pros and Cons

Pros

Cons

Team, Funding, Partnerships, etc.

Team

  • Full team can be found [here].

Funding

Partners 

  • According to their website (11-11-2020):

NGC Ventures, Youbi Capital, Consensus Lab, DFG and Chain Capital, among others. And is cooperating with imToken, Polka World, Ankr and Math Wallet.