Bifrost is a liquid staking appchain tailored for all chains, currently supporting Ethereum and Polkadot chains. The ultimate goal of Bifrost is to enable the minting of any Liquid Staking Token (LST) on any blockchain.
BNC is the native token of Bifrost, with a total supply of 80,000,000 tokens.
Initially, BNC was mainly used for governance. However, in 2024, Bifrost upgraded a new tokenomics proposal, where 100% of the protocol’s profits will be used for BNC buybacks. 90% of the buybacks are distributed to bbBNC holders, with the remaining 10% burned.
Users can liquid stake BNC to receive vBNC (BNC LST), then lock vBNC to receive bbBNC. The more vBNC you lock and the longer the lock duration, the more bbBNC you can earn.
In 2024, Bifrost’s total protocol revenue reached $7,926,900, with gross profit of $1,695,300. You can check real-time protocol revenue and profits on Bifrost Stats.
Keep your eyes peeled for the new tokenomics launch – this train's leaving the station soon! 🚂
vToken, the voucher of staked token, is a liquid staking token issued by Bifrost. Currently, Bifrost supports 9 assets: vDOT, vKSM, vETH, vBNC, vASTR, vMANTA, vPHA, vGLMR, and vMOVR.
vTokens are yield-bearing assets. Holding vTokens allows you to enjoy staking rewards while maintaining liquidity, providing a “hands-off earning” approach.
The longer you hold, the more native tokens your vToken can redeem.
For example, with BNC, the initial minting rate for vBNC/BNC is 1:1, meaning 1 BNC can mint 1 vBNC. However, after holding 1, this 1 BNC generates rewards, so it increases to 1.01 BNC. Therefore, your 1 vBNC can be redeemed for 1.01 BNC, and the extra 0.01 BNC is the staking reward.
Since the vBNC/BNC ratio changes over time, when another user mints vBNC, 1 BNC will only mint around 0.99 vBNC. This ensures fairness for every mint or redemption at any given moment.
You can experience liquid staking on Bifrost Dapp or Omni.ls.
Bifrost supports mainstream wallets and is compatible with both Substrate and EVM addresses for liquid staking.
For a detailed guide on how to participate, please check this tutorial: How to Liquid Stake on Bifrost and Receive vTokens.
Before March 27th, 2025, You can earn WAVE points through the following tasks to claim BNC rewards, convertible to bbBNC post-event. You can enjoy mixed staking APY and Stable Pool farming APY.
Join Liquid Wave Campaign Now: https://wave.bifrost.io/bnc
