Technical Development

Runtime 25003 (Completed)

• Gauge Security Improvements: Introduced separate Keeper Accounts for different Gauge Pools to strengthen fund isolation.
• User Fund Protection: Added safeguards to prevent Keeper Accounts from mistakenly using user funds for payouts.

Runtime 25004 (Completed)

• bbBNC V3 Upgrade: Added V3 migration support and optimized the bbBNC reward system.
• bbBNC Reward Mechanism Update: Removed the legacy initial reward correction operator to align with the new reward logic.
• Deposit Markup Validation Fix: Added full balance validation before Deposit Markup execution to prevent abnormal operations caused by insufficient balances.

Backend Services (Completed)

• Refactored and optimized the overall backend architecture.
• Enhanced monitoring and alerting mechanisms.

Faroo Dapp (Completed)

• Optimized the Pre-Mint subscription flow with one-click PROS subscriptions and subscription progress tracking.
• Improved yield and data displays with equivalent annualized returns, stock snapshots, and onchain data.
• Completed Season 2 UI adaptation and backend optimizations to improve overall performance and stability.
• Optimized the design system and overall Dapp performance.
• Added stPROS asset management services.

Runtime 26000 (In Development)

• SDK Upgrade: Upgrading to Polkadot SDK stable 2603 with support for the latest XCM and XCMP.
• Teleport Restoration: Restoring vDOT and vKSM Teleport from Bifrost to AssetHub.
• Security and Weight Fixes: Addressing Lend Market validation, Gas/Weight calculations, and multiple security issues identified through Immunefi.
• Cross-Chain and Legacy Module Cleanup: Removing Hyperbridge, the legacy SLP module, and completed bbBNC migration logic.
• Additional Fixes: Improving vTokenVoting rollback handling, EVM gas fee calculations, and Buyback error handling.

USD Vault 1.0.0 (In Testing)

• Vault Core contracts
• Adapter contracts
• Multi-platform RWA integrations
• DeFi yield integrations

Product Progress

bbBNC Rewards Restored

As of August 24, Bifrost has completed multiple Runtime upgrades to correct bbBNC reward weight calculations. Historical rewards have been reconciled, with missing rewards restored.

Unaffected Farming pools have resumed operations on the Bifrost Dapp, while affected pools remain paused as a precautionary measure.

Hyperbridge-Affected Asset Recovery

Registration is now open for Hyperbridge-affected users holding vETH or MANTA on Bifrost to submit their Ethereum receiving addresses.

Following registration, asset recovery and reissuance will be executed through onchain governance. Distribution is expected to take place in September.

Market & Community

Faroo Pre-Mint Season 2

Faroo Pre-Mint Season 2 is now live, with capacity increased to 2,000,000 stPROS per phase.

Season 2 consists of four phases, each featuring a 3-day Open Period followed by a 7-day Lock Period. Users can deposit stPROS into short-term cycles to access yield linked to underlying RWA market performance.

If the reference asset declines, no additional RWA yield is generated, while users' stPROS principal remains protected from direct exposure to the reference asset's downside. Returns are reflected through NAV, with no fixed APY.

Faroo Pre-Mint Season 1 Concludes

Faroo Pre-Mint Season 1 successfully concluded with more than 1.89 million stPROS deposited and 16,159 PROS distributed in yield to participants.

Exploring the Future of RealFi

On August 21, Bifrost Head of Developer Relations Tyrone joined the online roundtable “The Future of RealFi: How RWA is Reshaping DeFi.”

The discussion explored how RWAs can interact with stablecoins, DEXs, DeFi infrastructure, and onchain yield, as well as the infrastructure and opportunities needed to bring RealFi toward broader adoption.

The Next Yield Upgrade for vDOT

Polkadot staking reached a new all-time high of 914 million DOT.

As Polkadot's staking economics evolve, validator-side economics are becoming increasingly important. Bifrost plans to leverage its own Polkadot validators to return part of the validator-side value to vDOT holders, with the goal of further improving vDOT staking yields.