Bifrost Has Finished Migration from Bifrost-Kusama to Bifrost-Polkadot

With the ongoing Bifrost 2.0 upgrade, the core goal is to migrate all of Bifrost’s operations from Bifrost-Kusama to Bifrost-Polkadot.

As a test network, Bifrost-Kusama has fulfilled its mission. Bifrost’s operations have now matured enough to justify the migration to the Polkadot ecosystem, which offers a richer set of features, stronger composability, and greater liquidity. This migration is a natural step in Bifrost's evolution.

Importantly, Polkadot has established bridges with more heterogeneous chains, which strategically supports the expansion of Bifrost’s Omnichain LST business.

Once the migration is completed, BNC Tokenomics 2.0 will be fully launched on the Bifrost-Polkadot network.

vBNC Migration

The first step in the migration process is the migration of Collators. We have initiated the Bifrost-Polkadot Collator system while discontinuing the reward generation for the Bifrost-Kusama Collator system. Collators are encouraged to migrate to Bifrost-Polkadot, a process we've previously detailed in our article "Bifrost Polkadot Collator is Live: A New Era of Decentralization".

The second step involves the migration of vBNC. We have successfully launched the new vBNC on the Bifrost-Polkadot network and deactivated the vBNC on Bifrost-Kusama.

The migration of vBNC is being carried out through a snapshot process, with the following steps:

By November 27: Initializing the vBNC-related operations on Bifrost-Polkadot.
November 27: Pausing vBNC operations on Bifrost-Kusama. Users will not be able to mint, redeem, or add/remove liquidity from the vBNC/BNC pool. vBNC/BNC LP Tokens can no longer be minted or redeemed.
November 28: Disabling the transfer function for vBNC on Bifrost-Kusama. The transfer and trading of vBNC/BNC LP Tokens will also be disabled, and the account balances will be snapshot. Based on the snapshot, vBNC and vBNC/BNC LP Tokens will be airdropped to users on Bifrost-Polkadot.
November 29: Enabling the minting and redemption of vBNC and vBNC/BNC LP Tokens on Bifrost-Polkadot.

For a detailed tutorial on how to mint vBNC on Bifrost-Polkadot, please check here.

BNC Migration

BNC remains a dual-chain asset, usable on both Bifrost-Kusama and Bifrost-Polkadot, allowing transfers on both networks. However, there will be no further use cases for BNC on Bifrost-Kusama, so we recommend migrating BNC from Bifrost-Kusama to Bifrost-Polkadot.

Currently, there is no cross-chain bridge between Bifrost-Kusama and Bifrost-Polkadot, so you will need to use a centralized exchange (CEX) to complete the cross-chain transfer.

To migrate your BNC from Bifrost-Kusama, deposit it into a CEX, and then withdraw it from the exchange, selecting the Bifrost-Polkadot network for the withdrawal.

Supported centralized exchanges for BNC include Gate.io, KuCoin, MEXC, and CoinEx.

Post-Migration: What’s Next?

After the migration is completed, the first major event will be the launch of BNC Tokenomics 2.0. bbBNC will be introduced on Bifrost-Polkadot, and Bifrost will share protocol profits with bbBNC holders, setting the stage for a new growth flywheel!

Looking further ahead, Bifrost will leverage the Polkadot ecosystem and its cross-chain bridge infrastructure to expand its LST business. This will fulfill the vision of a full-chain LST strategy, bringing LST from more ecosystems into the fold while broadening the use cases for vBNC across the entire blockchain landscape.