Bifrost users can now win vsKSM on the DeFi protocol to capitalize on their staked assets and generate income.
As a parachain designed for liquidity to stake assets, Bifrost currently allows users to receive vTokens and stake rewards when using services on the decentralized application.
The platform said in a post At the beginning of the week that with the launch of the SALP business, 46,006 addresses acquired vsKSM and vsBond, and the total number of mints reached 20,503.72 vsKSM and 20,503.72 vsBond.
In addition to providing vsKSM and vsBond with pre-pool channels and use cases, Bifrost has introduced the vsKSM farming functionality.
Hodler must use vsKSM and vsBond in a 1: 1 ratio in Farming Pool in order to generate mining income. It should be noted that different vsBonds mean different mining rights, such as B. vsKSM + vsBond (Kintsugi) can only join the Kintsugi pool and vsKSM + vsBond (Heiko) can only join the parallel Heiko pool. It is understandable that vsBond is the ticket to a specific pool and vsKSM is the main miner.
Each pool has its own open window. After the pool is closed, you will not be able to participate in mining, but that will not affect the payment cycle and income of the users who are mining.
The Kintsugi Early Bird Pool has a management duration of 7 days with an expected reward of 100 KSM + 1500 billion.
If the total bet of the pool reaches 500 vsKSM & vsBond (Kintsugi), it is estimated that at 1 vsKSM & 1 vsBond (Kintsugi) each block can receive a reward of at least 0.00000414 KSM and 0.00006211 BNC.
Parallel Heiko Early Bird Pool, on the other hand, has a similar farming time of 7 days with a reward of 100 KSM + 1500 BNC and an APY of 1043% + BNC.
In the Bifrost plan, vsKSM Farming is not only a short-term incentive, but also a function that will last over the long term. This means that mining is a fixed effect of vsKSM and users no longer have to worry about hodl vsKSM without interest.
As Bifrost applies SALP to more auction projects, more pools will be introduced in the future. At the same time, the liquidity pool modules of vsKSM and vsBond will be launched shortly. Users who wish to mine can also purchase vsKSM and vsBond to participate.
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According to Cryptoslate