Developments

Dapp 1.8.1

• Launch vETH 2.0
• Launch vETH Farming
• The cross-chain transaction structure is upgraded to XCM v3

v0.9.72

• XCM dependency upgraded to XCM v3 version
• SLP protocol is adapted to XCM v3 to confirm the status of cross-chain calls automatically.
• SALP protocol adapts to XCM v3 to automatically confirm the status of cross-chain contribution and achieve complete decentralization overall.
• Fix the problem that vGLMR failed to send cross-chain messages due to the Moonbeam upgrade

Product

• In terms of liquidity derivatives, the total Total Value Staked (TVS) of vKSM exceeded 330,000; the TVS of vDOT exceeded 740,000, a year-on-year increase of 240,000 in March. vFIL total mintages reached almost 80,000 in its first month online, accumulating a TVL of$400,000.

Total Bifrost TVL this month: $70,012,241.

• Bifrost Kusama Parachain is fully adapted to Polkadot XCM v3 upgrade, which is optimized for SLP, SALP, XCM-Action, and other modules, significantly simplifying the back-end logic implementation process and enabling a second casting experience for derivatives with a more secure path.
• Earlier this month, vETH 2.0 went live on Bifrost. vETH 1.0 users can seamlessly exchange vETH 2.0 with staking revenue via https://bifrost.app/vstaking/vETH. At the same time, vETH 2.0 owners can participate in liquidity provisioning and Farming, and get 11% Base APY + 3% Farming APY in combination.
• On April 5, Ethereum DeFi Protocol Balancer went live with vETH-WETH Stable AMM with total liquidity over $1,000,000.
• On April 27th, vETH-WETH Stable AMM Governance Incentive Proposal (Gauge Proposal) joins Balancer Snapshot, $veBAL voting will open on April 27th at 2:00 AM BST.
• The vToken full-chain ecosystem use case is released to bring convenience to vToken holders, developers, and promoters by extending the functionality of vToken and promoting the long-term development of vToken. For a detailed explanation of the use case, please refer to:

More on vToken Ⅰ: Omnichain LSD & Ecosystem Applications
More on vToken II: Omnichain LSD & Ecosystem Applications

Marketing

• From April 11th to April 15th, Bifrost co-founder Lurpis participated in a series of events at Web3 Festivals Hong Kong Blockchain Week and introduced Bifrost as an Omni-chain LSD protocol to the audience through AMA and live demo at Polkadot 2023 and FIL Demo Day. He also showed the process of liquid staking in Bifrost Dapp.
• On April 21st, Bifrost hosted liquid session 4 on Real World Asset RWAs and Tokenization, featuring Steakhouse Finance, BackedFi and Centrifuge.
• On April 22nd, Bifrost officially announced its participation in the Encode x Polkadot 2023 Spring Hackathon! Developers are encouraged to take the LSD challenge to explore innovative applications of Bifrost’s LSD assets, and Bifrost is offering a BNC prize worth $2,500 to the top developer or development team at the end of the competition.
• On April 28th, Bifrost officially launched the Chinese Ambassador Program, seeking people with certain content creation, community operation and technical skills who love Bifrost to jointly build the Bifrost Chinese community.