As a established liquid staking appchain that emerged from Polkadot in 2019, Bifrost has solidified its market-leading position within the Polkadot ecosystem, boasting over $100 million in TVL. Meanwhile, Bifrost is leveraging its unique cross-chain architecture to expand its presence across the broader ecosystem.

In March 2021, Bifrost officially launched BNC (Bifrost Native Coin), its native asset. BNC functions as both a gas token and a governance token. Currently, BNC is available for trading on centralized exchanges such as Kraken, KuCoin, Gate, and MEXC, as well as on decentralized exchanges like Hydration.

In July 2024, the Bifrost community officially voted to approve the BNC Tokenomics 2.0 Proposal, which will be implemented within this year. Under the new economic model, Bifrost will allocate 90% of its profits to the token holders. The primary sources of protocol revenue for Bifrost include gas fees from Bifrost Chain and fees from its liquid staking services (such as vToken minting, redemption, and swaps), with annual profits currently amounting to approximately 1.5 million USD.

Bifrost's business revenue continues to grow, driven by expanding ecosystem deployments, use cases and offerings around liquid staking-related services, such as leveraged staking (Loopstake). Users liquid stake BNC to get vBNC, then lock vBNC to receive bbBNC. The more vBNC staked and the longer the lock-up period, the greater the amount of bbBNC earned.

Holding bbBNC allows users to participate in profit-sharing; the more bbBNC held, the greater the profit share received. In addition, holding bbBNC provides various reward boosts when using Bifrost's protocol. For more details, refer to: "Bifrost Tokenomics 2.0 Proposal: Allocating 100% of Protocol Profits for BNC Buyback and Burn."

To celebrate this exciting milestone, Bifrost has launched the Liquid Wave Campaign series.

The Liquid Wave Campaign will consist of three consecutive sub-events: LST Campers, BNC Explorers, and bbBNC Riders. By participating in these events, users can earn WAVE.

WAVE has two benefits:

• You can share BNC prize pool in each phase based on the amount of WAVE you have earned.
• After the Liquid Wave Campaign series concludes, WAVE can be exchanged for bbBNC to share in Bifrost Protocol revenues.

Notably, Raindrops earned in previous Bifrost events can be converted into WAVE during the Liquid Wave Campaign, allowing users to exchange them for bbBNC in the future.

LST Campers Registration Begins

In the LST Campers event, users can earn WAVE points by minting vToken, voting in Polkadot OpenGov, and inviting others to join.

After the event concludes, all participants will share a reward pool of 100,000 BNC based on the WAVE points they have earned. As mentioned earlier, WAVE points earned during the event can also be exchanged for bbBNC after the entire Liquid Wave Campaign concludes.

The event will consist of a registration phase and an official phase:

• Registration Phase: 2024.10.23 - 2024.11.6
• Official Phase: 2024.11.6 - 2024.11.27

Registration Phase

During the registration phase, you can:

• Click the registration button: Successfully registering will earn you 300 WAVE.
• Bind an inviter: Successfully binding an inviter will earn you 30 WAVE.
• Invite others: For each successful invitee (where the invitee successfully binds you as their inviter), you will earn 30 WAVE.

Note: The inviter binding relationship established during the registration phase will carry over to the official phase. Once bound, it cannot be changed during the entire Liquid Wave Campaign series. During the official phase, for each vDOT minted by your invitees, you will earn 10 WAVE.

Registration link: https://wave.bifrost.io/

Official Phase

During the official phase, you can accumulate WAVE in the following ways:

• Minting vToken: Earn WAVE for every vToken minted (if redeemed during the event, the earned WAVE will be deducted).
• Voting: Use vDOT to participate in Polkadot OpenGov voting. Voting on any ongoing proposal with any amount of vDOT will earn a 10% WAVE minting bonus.
• Inviting Others: You can invite others during both the registration and official phases. For each vDOT minted by your invitees, you will earn 10% of the WAVE they receive, i.e., 10 WAVE (similarly, if redeemed during the event, the earned WAVE will be deducted).

Additionally, when the total number of WAVE you have earned reaches 1,000, you will receive an airdrop of 300 WAVE.

Throughout the entire Liquid Wave Campaign series, you can use your past Raindrops to exchange for WAVE at a rate of 100:1.

Campaign Overview

Phase I (November 6 - November 27) - LST Campers has already begun. Reserve now to earn WAVE, share 100,000 BNC, and gain the right to exchange for bbBNC in the future.

Join Now: https://wave.bifrost.io/

Phase II - BNC Explorers is gearing up and will launch immediately after LST Campers ends. Users can earn WAVE by minting liquid staked BNC with vBNC and share a reward pool of 160,000 BNC.

Phase III - bbBNC Riders will follow closely, pushing the campaign to its peak. In addition to earning WAVE by minting bbBNC from vBNC, participants can also compete for a weekly prize pool of 20,000 WAVE in a lucky draw.

After the three phases conclude, all WAVE held can be exchanged for bbBNC.

In 2023, Bifrost launched Gov 2.0, fully transferring governance rights of the protocol to the community. Now, with the introduction of BNC Tokenomics 2.0, Bifrost's protocol profits are directly shared with the community, ensuring that the development of the protocol directly benefits its holders. The launches of Gov 2.0 and Tokenomics 2.0 together mark a new era of true decentralization for the Bifrost protocol.

With bbBNC, you are not just a participant—you are an owner, a decision-maker, and a beneficiary of the Bifrost protocol, enjoying governance rights and profit-sharing!