[https://medium.com/bifrost-finance/polkawarriors-ama-recap-what-can-we-do-with-slp-protocol-34c8dc30b4e9](https://medium.com/bifrost-finance/polkawarriors-ama-recap-what-can-we-do-with-slp-protocol-34c8dc30b4e9)

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PolkaWarriors AMA Recap | SLP protocol essentials

[https://medium.com/bifrost-finance/bifrost-launches-rainbow-boost-program-first-raindrop-airdrops-to-open-soon-912d438eca7f](https://medium.com/bifrost-finance/bifrost-launches-rainbow-boost-program-first-raindrop-airdrops-to-open-soon-912d438eca7f)

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Bifrost Launches the Rainbow Boost Program: the first Raindrop Airdrops are coming soon!

[https://medium.com/bifrost-finance/during-a-cold-crypto-winter-staking-derivatives-may-be-the-much-needed-glimpse-of-sunshine-7bf6bcd3cbb2](https://medium.com/bifrost-finance/during-a-cold-crypto-winter-staking-derivatives-may-be-the-much-needed-glimpse-of-sunshine-7bf6bcd3cbb2)

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During a cold crypto winter, staking derivatives may be a much-needed glimpse of sunshine.

[https://medium.com/bifrost-finance/bifrost-salp-supports-the-ajuna-kusama-crowdloan-ad665c0eaab1](https://medium.com/bifrost-finance/bifrost-salp-supports-the-ajuna-kusama-crowdloan-ad665c0eaab1)

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Bifrost SALP Supports the Ajuna Kusama Crowdloan

[https://medium.com/bifrost-finance/bifrost-salp-supports-listen-kusama-crowdloan-762ab33ff2cf](https://medium.com/bifrost-finance/bifrost-salp-supports-listen-kusama-crowdloan-762ab33ff2cf)

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Bifrost SALP Supports Listen Kusama Crowdloan

[https://medium.com/bifrost-finance/stakebnc-com-staking-analytics-and-personal-account-dashboard-launched-by-stakebaby-97be91c63a18](https://medium.com/bifrost-finance/stakebnc-com-staking-analytics-and-personal-account-dashboard-launched-by-stakebaby-97be91c63a18)

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StakeBNC.com — Staking, Analytics, and Personal Account Dashboard Launched by StakeBaby

[https://medium.com/bifrost-finance/subbridge-opens-hrmp-cross-chain-channel-with-bifrost-supports-bnc-zlk-cross-chain-transmission-a9855c3b1b77](https://medium.com/bifrost-finance/subbridge-opens-hrmp-cross-chain-channel-with-bifrost-supports-bnc-zlk-cross-chain-transmission-a9855c3b1b77)

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SubBridge opens HRMP cross-chain channel with Bifrost, supports BNC, ZLK cross-chain transmission

[https://medium.com/bifrost-finance/bifrost-salp-supports-imbue-network-kusama-crowdloan-1f0d3c8e7562](https://medium.com/bifrost-finance/bifrost-salp-supports-imbue-network-kusama-crowdloan-1f0d3c8e7562)

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Bifrost SALP Supports Imbue Network Kusama Crowdloan

[https://medium.com/bifrost-finance/bifrost-polkadot-parachain-goes-live-roadmap-cross-chain-integration-of-polkadot-and-kusama-85d6fd31bf8f](https://medium.com/bifrost-finance/bifrost-polkadot-parachain-goes-live-roadmap-cross-chain-integration-of-polkadot-and-kusama-85d6fd31bf8f)

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Bifrost Polkadot Parachain Goes Live Roadmap, Cross-Chain Integration of Polkadot and Kusama

**Polkadot Slot Auctions get their most awaited derivatives program: A Crowdloan through SALP 2.0 expands possibilities for greater incomes.**

## **Introduction**

Since the so-called DeFi Summer in 2020, the Decentralized Finance has grown rapidly, and the resulting financial products have made DeFi the main path for a systemic growth of major public chains. Polkadot was born with its technical advantages of interoperability and cross chain communication.  
It combines multiple different blockchains into a unified and scalable network, aiming to solve the isolation and separation between single blockchains, raising this innovative technology to a whole new level.

Polkadot’s popularity is not only due to its technological innovation: From the users perspective, various DApps in the Polkadot ecosystem have brought amazing benefits. At the same time, its subsystem framework supports the value transfer between different blockchains, so that investors can get a more consistent and convenient experience, and reduce their cross-chain threshold and cost.

Since the launch of *Rococo V1*, Polkadot’s special parachain test-net, which was published by one of the Polkadot co-founder at the end of 2020, *DOT* has increased its value. In the last year, the Polkadot Parachain Slot Auction has attracted many project parties and investors, which paid attention to the market dynamics and got their spot in the parachain slot auction, being able to make great profits. On the other hand, users felt the pain of fixed assets and limited investment behavior during the parachain slot auction lock-up period. Today, *Bifrost Finance*, with the latest **SALP 2.0** launch, proposes a liquidity release scheme to solve the lock-up of slot auction assets, providing investors with unlimited liquidity paths.

## **Slot Auction and Liquidity**

![](https://miro.medium.com/max/1400/1*LOuBZJmYLJwpBRj9aesMmw@2x.png)

First of all, it worths to spend some time explaining a bit of a context to novice readers and investors. As a typical PoS blockchain, Polkadot has set up a Staking mechanism with two purposes: network security and the bottom layer of consensus, which can not only ensure stability with a high mortgage rate, but also guarantee the user’s income.

The Polkadot Slot Auction is a project based on Polkadot characteristics and its underlying financial layer is Staking. Polkadot consists of a Relay chain, parachains and transfer bridge. The relay chain is the center of the Polkadot network and is responsible for the security and control of the whole system; Parachains connect and interact with the Relay chain through slots. Therefore, if a new Parachain wants to access the ecosystem and interact with other parachains, it must use the slot to realize the business interaction. 80% of the slots in Polkadot are commercial slots, which are opened by auction.

Polkadot designed an auction method, which allows the project to bid for the right to use the slots within a certain lease period, locking a certain amount of Tokens. Only after the lease term ends, these tokens can be unlocked and assets returned. It is worth mentioning that *DOT* participating in the mining process cannot be used on the auctions. In addition to large projects and institutional parties, retail investors can also participate in a Crowdloan, increasing the number of *DOT* locked in and, doing so, increasing their chances of success. Naturally, the project will also encourage users to participate with an incentive mechanism.

Whether it is a staking farming or crowdloan auction, there is a pain point of Staking behavior: Staking assets cannot be used during the lock-up period, so users bear the opportunity cost and rely on market risk. The same is true for slot auctions. Therefore, in order to better address the impact of slot auction, such as insufficient liquidity, locked assets and reduced market behavior, *Bifrost* proposed **SALP** (Slot Auction Liquidity Protocol), which releases liquidity and brings an effective liquidity solution to users, the Polkadot ecosystem itself and even the blockchain networks.

## **SALP - vsToken & vsBond**

SALP aims to release KSM/DOT liquidity locked in crowdloan by generating derivatives. SALP will greatly improve the fund utilization rate of crowdloan and attract more participants who have concerns about the lock-up period to support the slot auction. For a project, SALP increases the possibility of successful bidding in an auction. To build a wealthy ecosystem, SALP is able to release the power of the locked-up liquidity, so that KSM/DOT could gain more value, based on user’s strategies and behaviors.

![](https://app.subsocial.network/ipfs/ipfs/QmY71JRXGdpccmHJyWHwRK3vpcSGYVQ9ZAzAgKfv5SYHk6)**vsBond Market**

Participating in a Crowdloan through SALP give access to two derivatives, named respectively vsDOT/vsKSM (Voucher Slot Token) and vsBond (Voucher Slot Bond). vsDOT/vsKSM is the derivative token of the DOT/KSM locked in the slot auction while vsBond is determined by the supported auction items. If users vote for Parachain A they will get *vsBond - Parachain A*, and if they vote for Parachain B, they will get *vsBond - Parachain B*. Please note that *vsBond - Parachain A* and *vsBond - Parachain B* are qualitatively different.

Bifrost started with the Token attribute of participating in the Crowdloan, decoupled its asset attribute from its equity attribute, and designed vsToken and vsBond. In addition to the differences between homogeneous and non-homogeneous attributes, there are also differences in specific performance and use. vsToken can trade at any time or cooperate with vsBond for 1:1 redemption after the end of the parachain lease term, the vsBond can be traded through the vsBond trading market built in Bifrost, without considering liquidity.

## **SALP 2.0**

Since its launch, the SALP (Slot Liquidity Protocol) has launched derivatives such as vsKSM and vsDOT, successfully participated in the Kusama Slot Auction, and has been linked to Kusama as a parachain. A total of 42 eco-partners have participated in the auction through SALP, with 6,963 active Crowdloan addresses and a TVL of $21,000,000. The amount of derivative liquidity generated by SALP has reached $508,113. These data reflect the remarkable achievements and positive role of SALP in releasing liquidity, helping project bidding, facilitating user market behavior, and reducing opportunity costs.

But as we all know: What is good, could always be improved. So, based on a large number of market trials and continuous optimization, SALP 2.0 will be launched with some brand new features, to help our users participating in slot auctions, improve asset freedom and release unlimited liquidity strategies.

SALP’s design of vsToken and vsBond has solved the problem of releasing the liquidity of some lock-up KSM/DOT. Nonetheless, users encountered various issues: vsKSM cannot be accepted rigidly alone, the vsBond mechanism is seriously fragmented, and some user’s transaction experience as well as the whole efficiency in the actual process need to be optimized.

Based on this, SALP 2.0 introduces the mechanism of mutual conversion between vsToken and vsBond. Using the system pricing mechanism, different conversion exchange rates are determined according to different redemption periods to obtain more accurate vsBond value, so as to realize the conversion from non-homogeneous vsBond with different value to fully homogeneous vsToken. It makes the circulation of vsBond smoother and meets the needs of users to quickly release full liquidity.

![](https://miro.medium.com/max/1400/0*7vsPfg7B59slBdp9)

The specific conversion rules are as it follows:

* Users participating in crowdloan can convert vsBond into a certain amount of vsKSM at the system pricing exchange rate;

* Retail users can purchase vsKSM and convert vsKSM into vsBond at another system exchange rate;

* vsBond → vsKSM exchange rate is about 0.6 → 1 (Opportunity cost and Staking annualized income);

* When the exchange rate of vsBond → vsKSM is 0.6, the exchange rate of vsKSM → vsBond is 1.25 (The original exchange rate is 1.666).

> *vsKSM/vsBond Convert:*[*https://bifrost.app/swap?tab=convert*](https://bifrost.app/swap?tab=convert)
>
> *Bond Market:*[*https://bifrost.app/bond*](https://bifrost.app/bond)

Not only those who participate in crowdloan, but also those who want to invest in derivatives and try different ways of operating at this time can seize the opportunity from the vsToken & vsBond swap mechanism of SALP 2.0 and obtain higher returns.

For example, when the price of vsKSM is stable at 0.5 KSM, a stable rate of return can be obtained according to the length of lock up time. The longer the lock-up time, the higher the annualized rate of return: When the price of vsKSM drops, the arbitrage yield of the whole period increases, and the yield of vsBond close to the redemption period increases significantly.

## **The Bond Market**

SALP 2.0 not only updates and optimizes the existing mechanism, but also enables users who are already familiar with Bifrost Dapp to have a better experience and obtain higher revenue and unlimited liquidity. At the same time, it has also launched two new functions: *Bond market* and *Current pledge*, which are very good derivatives investment options for new users.

![](https://miro.medium.com/max/1400/0*oLmEIqX-bPqIcYI0)

The Bond market is a function which automatically matches a vsToken and a vsBond to package their redemption period and yield. It has the same attributes as the traditional bond market. Of course, new users do not need to pay attention to the operating mechanism and underlying structure of slot auction and crowdloan. They only need to know the basic financial mechanism of traditional bonds: seize the favorable opportunities such as interest rate fluctuation and redemption period, improve the yield and obtain the return on investment.

## **Improved liquidity of vsKSM**

The launch of the liquidity staking function improves the liquidity of vsKSM, ensures the liquidity of the Bond market, and provides a more stable environment for user arbitrage. The bottom level and performance of its functions are: support users to carry out vsKSM single currency mining and obtain higher incentives while contributing to the liquidity of vsKSM. When the liquidity of vsKSM is improved, the exchange transactions of vsBond and vsKSM are increased, the number of vsBonds in the SALP 2.0 agreement is also increased, which can provide more vsBonds to the market and increase the matching of vsKSM-vsBond.

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Bifrost launch SALP 2.0, unlocking unlimited liquidity for slot derivatives

[https://medium.com/bifrost-finance/rainbow-boost-round-2-ready-for-launch-nft-whitelist-released-in-limited-numbers-2801c91811e4](https://medium.com/bifrost-finance/rainbow-boost-round-2-ready-for-launch-nft-whitelist-released-in-limited-numbers-2801c91811e4)

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Rainbow Boost Round 2 is ready for launch. Release of NFT whitelist in limited numbers

[https://medium.com/bifrost-finance/bifrost-salp-supports-tinkernet-kusama-crowdloan-4c4eb57c4439](https://medium.com/bifrost-finance/bifrost-salp-supports-tinkernet-kusama-crowdloan-4c4eb57c4439)

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Bifrost SALP Supports Tinkernet Kusama Crowdloan

[https://medium.com/bifrost-finance/bifrost-salp-supports-amplitude-kusama-crowdloan-29bf447c3622](https://medium.com/bifrost-finance/bifrost-salp-supports-amplitude-kusama-crowdloan-29bf447c3622)

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Bifrost SALP Supports Amplitude Kusama Crowdloan

[https://medium.com/bifrost-finance/bifrost-2022-june-monthly-report-9535be3b46d0](https://medium.com/bifrost-finance/bifrost-2022-june-monthly-report-9535be3b46d0)

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Bifrost 2022 June Monthly Report

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Bifrost SALP Supports Integritee Polkadot Crowdloan

[https://medium.com/bifrost-finance/xcmp-enables-staking-derivatives-and-bifrost-has-opened-multiple-cross-chain-channels-b9e915bc242d](https://medium.com/bifrost-finance/xcmp-enables-staking-derivatives-and-bifrost-has-opened-multiple-cross-chain-channels-b9e915bc242d)

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XCMP enables staking derivatives, and Bifrost has opened multiple cross-chain channels

# **What is the Rainbow Boost?**

The Rainbow Boost is a system for tagging, crediting, and incentivizing the behavior of users on the Bifrost chain. Meeting certain behaviors during the Rainbow Boost program will award the addresses with a so-called Raindrop.

# **Why Rainbow Boost?**

The Rainbow Boost campaign empowers addresses that are actively trading, minting and staking on the Bifrost chain, bringing this group of active users closer to Bifrost directly and building direct trust by way of incentives and granting privileges.

# **Is the Raindrop a token airdrop?**

No, Raindrop is a behavioural point system that ranks the more engaged users on the Bifrost chain. Higher ranked addresses represent higher levels of activity, loyalty and engagement.

Although Raindrop itself is not an airdrop, accumulating Raindrop and improving your Raindrop points ranking will help you gain access to various perks including Token airdrop opportunities.

# **The benefits of accumulating Raindrop points?**

The more Raindrops you earn and the higher you rank in the Rainbow Boost, the more privileges and rewards you will receive.

According to the rules of this Rainbow Boost, there will be 6 different rounds of Raindrop drops for all users who have contributed to any Kusama Crowdloan. The more Raindrop points you have, the more airdrop rewards you will receive.

In addition, Raindrop point holders will always have priority as Bifrost’s new Back to Asgard NFT program is implemented or future users participate in on-chain governance. This third round of the Rainbow Boost will reward the top 100 point holders with the Back to Asgard NFT whitelist.

# **How do I join Rainbow Boost 3.0 and receive the Raindrop?**

Two rounds of the Bifrost Rainbow Boost loyalty program have been held so far, and the third round of the Rainbow Boost will begin on August 8. Each round of the Rainbow Boost encourages different behaviours.

You can visit the [Bifrost Dapp](https://bifrost.app/dashboard/boost) fixed activity page to see what is encouraged during the Rainbow Boost, the rewards and to check your Raindrop balance.

Earn Raindrop Points for completing encouraging behaviors. Addresses that meet the buff conditions can also get more points when they complete the encouragement behavior.

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5 things you need to know about Rainbow Boost

[https://medium.com/bifrost-finance/a-new-hrmp-channel-launched-between-bifrost-and-crab-parachain-8b94572e3639](https://medium.com/bifrost-finance/a-new-hrmp-channel-launched-between-bifrost-and-crab-parachain-8b94572e3639)

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A New HRMP Channel Launched between Bifrost and Crab Parachain

The second round of KSMs in the Kusama Crowdloans will be released on **August 8th 2022**, with approximately 1,251,097 KSMs to be unlocked at this time. As first Kusama and later Polkadot demonstrated, this Crowdloan model is an efficient way to bootstrap a project. However, the inability to use its funds during the staking lock-up period, places the opportunity cost and market risk on the shoulders of the investor, who is therefore less enticed to invest in the ecosystem.

The **SALP** protocol is designed to free up KSM / DOT liquidity locked up in Crowdloan by users, through the generation of derivative assets. SALP significantly increases the utilization of funds in Crowdloans and attracts more participants who are concerned about the lock-up period to support slot auctions. From a project side, SALP increases the chances of successful bids.

In the second round of Kusama slot auction, Basilisk, Altair, Heiko, Kintsugi partnered with Bifrost and received contributions for their parachain slots through the SALP protocol. On August 8, since parachain slots for these projects are going to expire, users will need to redeem an equal amount of vsKSM and vsBond in exchange for the original KSMs contributed, through the [bifrost.app](http://bifrost.app).

In terms of users behavior, the amount of KSMs flooding the market, following the unlocking of the Kusama Crowdloan contributions, may drive more attention to the DeFi and generate some sort of selling pressure.  
Bifrost has come up with a solution for investors: the **vKSM**.

# **vKSM breaks the Staking Dilemma**

Bifrost’s SLP protocol, launched in May this year, supports the minting of native KSM into vKSM, focusing on asset liquidity and multiple returns for users after participating in Staking. Since Kusama is a NPOS consensus blockchain, user’s staked KSMs are locked up to ensure the security of the network and cannot be transferred or invested.  
Users are also unable to exit Staking immediately and they need to wait an unlocking period to gain full liquidity of their unstaked assets, which reduces liquidity and prevents the value of assets, especially native assets, from being fully utilized.

![](https://app.subsocial.network/ipfs/ipfs/QmbLYwVkVCZbBiKf518A7GvF8WthPDyMzqZupetq7UVJvt)

The vKSM, minted via the SLP protocol, is a liquid, yield earning representation of a users staked KSM tokens, Users holding vKSM earn KSM staking rewards (the vKSM you hold is worth more KSM every day), thus compounding staking liquidity and create new use cases for DeFi users.  
A user can redeem the corresponding assets at any time using the vKSM. As each user pledges assets for a different period of time, income from staking may vary. vKSM is designed to be a homogenous token that can be split to better meet the needs of multiple users. We detailed the benefits of vKSM in our article “[Bifrost Staking Liquidity Protocol Goes Live. vKSM Becomes First Supported Asset](https://app.subsocial.network/@bifrost/bifrost-staking-liquidity-protocol-goes-live-v-ksm-becomes-33940)”.

# **Rainbow Boost 3.0**

**The Rainbow Boost**, launched by Bifrost in May, is a system for tagging, crediting, and incentivizing the behavior of users on the Bifrost chain. Meeting certain behaviors during the Rainbow Boost program will award the addresses with a so-called Raindrop

The launch of this Rainbow Boost encourages users to do more investment, promotes liquidity a more dynamic market behavior, enriches the StakeFi’s ecosystem applications, and shows us the appeal of the underlying consensus mechanism of the blockchain - i.e. providing users who actively participate and build the community with a greater amount of incentives and benefits, enabling shared revenue. To better understand the Rainbow Boost, we released a [**Q&A-style Understanding Rainbow Boost Loyalty Program**](https://medium.com/bifrost-finance/5-things-you-need-to-know-about-rainbow-boost-63a66312cb23) on August 3, which gives a detailed analysis of its dynamics.

The third round of the Rainbow Boost will kick off at 3am UTC on August 8 and it will end at 10am UTC on August 23. It’s worth mentioning that, like the first round of Rainbow Boost, the **Rainbow Boost 3.0 will feature multiple rounds of airdrops and rewards.** The more Raindrop points you have, the more Raindrop rewards you will be able to divide up in each round. There are three ways to earn Raindrop points.

* Receive 2,000 Raindrops if the user participated in any of the Kusama Crowdloan

* Mint one vKSM to get 1,000 Raindrops (vKSM can be unstake after the event)

* Invite friends and both the inviter and the invitee will receive additional 200 Raindrops

## **Raindrop Airdrop**

To keep track of Raindrop airdrop participation dates, all airdrops will be awarded by September 10, after the end of the Rainbow Boost, and the snapshot timeline (UTC) of the participating addresses for the 5 rounds of Raindrop drops at the following:

* 8/11 10am Calamari Airdrop

* 8/14 10am Basilisk Airdrop

* 8/17 10am Altair Airdrop

* 8/20 10am Heiko Airdrop

* 8/23 10am Kintsugi Airdrop

Campaign Webpage: [https://bifrost.app/dashboard/boost](https://bifrost.app/dashboard/boost)

## **Friend referral**

Based on the positive feedback from the first two rounds, a new invitation mechanism has been added to the previous Raindrop rules to promote the spread of the campaign and encourage more users to join. This rule significantly lowers the participation and earning threshold for Rainbow Boost 3.0, making it truly rewarding to participate.

## **vKSM Farming**

vKSM Farming is a single token farming project, with no exposure to the impermanent loss, that maximizes the protection of the user’s token and enhances multiple benefits. Participants in vKSM Farming, who mint vKSM in the Rainbow Boost 3.0 campaign, receive more Raindrop as well as Farming revenue, and directly benefit from the triple rewards during the campaign.

## **Back to Asgard NFT Whitelist**

As an incentive to be part of the Rainbow Boost 3.0, there is the possibility for the top 100 addresses with the highest Raindrop point, to be whitelisted for our **Back To Asgard NFT Collection**. If you have already been whitelisted in the second Rainbow Boost, we will not be issuing additional whitelists, ensuring only one whitelist per address.

The Back to Asgard series of NFT incubators will be soon available for purchase. This collection will be available for a selected number of users who will receive benefits including airdrops, extra rewards and a dedicated customer service. 1000 NFT whitelist spots will be issued at various times.

# **Conclusion**

The first two rounds of Rainbow Boost have received wide support from the community and users, which also reflects Bifrost’s original intention to provide investors with multiple returns, release liquidity for the market, and promote ecological and community development. It also promotes the underlying consensus of building a community and sharing benefits. Rainbow Boost 3.0 will try to follow the path of the first two rounds and continue to provide investors with more income possibilities and investment options.

The Rainbow Boost was launched as part of a community loyalty program. For example, the design of Raindrop enables the decentralized community to have a quantitative contribution record, allowing the community to provide more incentives and privileges for active users from the perspective of consensus contribution. The higher the level of activity, loyalty and participation, it also means that you can get more privileges and more preferential treatment in the community. Users with equal rights and levels of participation and co-creation, participation, contribution and other behaviors themselves are the sources of recognition and encouragement in the community.

The implementation of Rainbow Boost is a regular expression of the establishment of a decentralized community, and an innovative move that allows users to perceive and enjoy the charm of a decentralized community more.

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Rainbow Boost 3.0 will launch on August 8, with 5 rounds of airdrops coming up.

# **Technological Developments**

## [**Bifrost v0.9.46**](https://github.com/bifrost-finance/bifrost/releases/tag/bifrost-v0.9.46)

* Supported vMOVR asset in SLP protocol

* Launched System Staking pallet

* Fixed srtool

## [**Bifrost v0.9.48**](https://github.com/bifrost-finance/bifrost/releases/tag/bifrost-v0.9.48)

* Launched Asset Registry pallet

* Fixed farming module

* Fixed potential numeric value overflow

## [**Bifrost v0.9.50**](https://github.com/bifrost-finance/bifrost/releases/tag/bifrost-v0.9.50)

* Launched Bifrost-polkadot runtime

* Fixed proposal hash

## [**Bifrost v0.9.52**](https://github.com/bifrost-finance/bifrost/releases/tag/bifrost-v0.9.52)

* Added Bifrost-rococo runtime for testing purpose

* Updated dependencies to Polkadot v0.9.26

# **Product**

* A liquidity loan of 50,000 KSM from Kusama Treasury has been granted to Bifrost to improve the liquidity of the pools, starting with the first one: Zenlink vKSM/KSM AMM Pool. Liquidity roadmap: [https://forum.bifrost.finance/t/kusama-treasury-fund-roadmap/1758](https://forum.bifrost.finance/t/kusama-treasury-fund-roadmap/1758)

* From July to August, the total staking volume of vKSM increased from 86,400 KSM to 141,392 KSM, with an increase of 54,992 KSM, an increase of 63% in a single month. Participate in vKSM staking: [https://bifrost.app/vstaking/vKSM](https://bifrost.app/vstaking/vKSM)

* Bifrost is opening a multi chain HRMP cross chain channel. The projects has been part of Rococo testing this month including: Crust Shadow, Turing Network, Genshiro, Darwinia, Mangata and Kylin Nework. The opening of the channel will mean the interchange of governance tokens and cross-chain calls at the product level.

# **Operations**

* On July 3, the Polkadot conference and hackathon #PolkadotDecoded were held on twitter Space. Bifrost Council member Tyrone participated on behalf of Bifrost and said that after launching the staking of vKSM, Bifrost will gradually cooperate with the parachain in Polkadot ecosystemm providing derivatives：[https://twitter.com/i/spaces/1ZkJzbedXyZJv](https://twitter.com/i/spaces/1ZkJzbedXyZJv)

* On July 14, Subsquid invited Bifrost, DeepDAO and SHOKUNIN NETWORK to discuss about democratic participation in governance, DAO and data management on chain. Review the video: [https://youtu.be/nOL1mV5e8dM](https://youtu.be/nOL1mV5e8dM)

* On July 21, Tyrone was invited to participate in a community call of Pendulum, a partner of Bifrost SALP, to share their respective development of the project with Interlay and Amber. Tyrone said that after successfully obtaining a loan of 50,000 KSM from the Kusama Treasury, Bifrost will continue to develop in the direction of vKSM, vDOT and other parachain’s derivatives.

* On July 28, the 10th Session of Bifrost Community Call was held. During this meeting with the community, Christian and Tyrone, announced for the first time that the third session of Rainbow Boost is about to start. Compared with the other sessions, we added an invitation mechanism to issue Raindrop points to active addresses on our chain through six rounds of investment. In the future, the addresses holding more points will be whitelisted for NFT discounts and other benefits.

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Bifrost 2022 July Monthly Report

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Bifrost

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SiriusLee | PromoTeam

Bifrost is a Liquid Staking app-chain tailored for all blockchains, utilizing decentralized cross-chain interoperability to empower users to earn staking rewards and DeFi yields with flexibility, liquidity, and high security across multiple chains.

https://medium.com/bifrost-finance/during-a-cold-crypto-winter-staking-derivatives-may-be-the-much-needed-glimpse-of-sunshine-7bf6bcd3cbb2

https://medium.com/bifrost-finance/bifrost-salp-supports-listen-kusama-crowdloan-762ab33ff2cf

Polkadot Slot Auctions get their most awaited derivatives program: A Crowdloan through SALP 2.0 expands possibilities for greater incomes.

Introduction

Since the so-called DeFi Summer in 2020, the Decentralized Finance has grown rapidly, and the resulting financial products have made DeFi the...

https://medium.com/bifrost-finance/polkawarriors-ama-recap-what-can-we-do-with-slp-protocol-34c8dc30b4e9

Polkadot Ecosystem PromoTeam
https://app.subsocial.network/1224

https://medium.com/bifrost-finance/stakebnc-com-staking-analytics-and-personal-account-dashboard-launched-by-stakebaby-97be91c63a18

https://medium.com/bifrost-finance/bifrost-salp-supports-imbue-network-kusama-crowdloan-1f0d3c8e7562

https://medium.com/bifrost-finance/bifrost-launches-rainbow-boost-program-first-raindrop-airdrops-to-open-soon-912d438eca7f

https://medium.com/bifrost-finance/bifrost-2022-june-monthly-report-9535be3b46d0

What is the Rainbow Boost?

The Rainbow Boost is a system for tagging, crediting, and incentivizing the behavior of users on the Bifrost chain. Meeting certain behaviors during the Rainbow Boost program will award the addresses with a so-called Raindrop.

Why Rainbow Boost?

The Rainbow Boost...

https://medium.com/bifrost-finance/subbridge-opens-hrmp-cross-chain-channel-with-bifrost-supports-bnc-zlk-cross-chain-transmission-a9855c3b1b77

Technological Developments

Bifrost v0.9.46

Supported vMOVR asset in SLP protocol

Launched System Staking pallet

Fixed srtool

Bifrost v0.9.48

Launched Asset Registry pallet

Fixed farming module

Fixed potential numeric value overflow

Bifrost v0.9.50

Launched Bifrost-polkadot runtime...

https://medium.com/bifrost-finance/rainbow-boost-round-2-ready-for-launch-nft-whitelist-released-in-limited-numbers-2801c91811e4

https://medium.com/bifrost-finance/bifrost-salp-supports-the-ajuna-kusama-crowdloan-ad665c0eaab1

https://medium.com/bifrost-finance/a-new-hrmp-channel-launched-between-bifrost-and-crab-parachain-8b94572e3639

https://medium.com/bifrost-finance/bifrost-polkadot-parachain-goes-live-roadmap-cross-chain-integration-of-polkadot-and-kusama-85d6fd31bf8f

The second round of KSMs in the Kusama Crowdloans will be released on August 8th 2022, with approximately 1,251,097 KSMs to be unlocked at this time. As first Kusama and later Polkadot demonstrated, this Crowdloan model is an efficient way to bootstrap a project. However, the inability to use its...

https://medium.com/bifrost-finance/bifrost-salp-supports-amplitude-kusama-crowdloan-29bf447c3622

https://medium.com/bifrost-finance/xcmp-enables-staking-derivatives-and-bifrost-has-opened-multiple-cross-chain-channels-b9e915bc242d

https://medium.com/bifrost-finance/bifrost-salp-supports-tinkernet-kusama-crowdloan-4c4eb57c4439