Decentralized Finance (DeFi) stands at the forefront of a financial revolution, harnessing blockchain distributed ledger technology to redefine traditional financial systems. As of January 2024, the growth rate of DeFi has been phenomenal, with a total value locked (TVL) over tens of billions of dollars, including interests from both institutional and retail investors. Overall, DeFi platforms provide a diverse range of decentralized applications, encompassing lending, borrowing, trading, and yield farming, eliminating the need for traditional intermediaries. One of the most innovative applications under DeFi is LIQUID STAKING DERIVATIVES or LSD which has piqued investor’s interest and move away from traditional staking systems.
Traditional Staking Vs Liquid Staking:
In 2014, the term ‘staking’ emerged, empowering individual investors to play a pivotal role in blockchain by contributing to its legitimacy and transaction operations. This concept allows holders to commit their digital assets to a validator pool indefinitely, earning rewards for verified transactions. It’s important to note that control over these tokens is relinquished until they are undelegated back to the wallet. Over time, innovations led to the development of the Liquid Staking Derivatives Model, enabling the tokenization of staked assets. These tokens can be traded or utilized on supported DeFi platforms, showcasing the continuous evolution of blockchain participation and investment opportunities.
About Bifrost Finance
If you are looking forward to starting your journey with Liquid Staking, one of the most trusted and innovative solutions out in the crypto arena is Bifrost Finance which is an OMNI CHAIN Liquid Staking Derivative protocol that lets you enjoy higher utilization and higher yield earning on your staked tokens.
As per Bifrost Finance, “Omni-chain refers to an application architecture paradigm where developers build applications, take full-chain interoperability as a prerequisite, and design the application, incorporating different parts of the application on other chains rather than simply replicating a single-chain application on multiple chains.” It follows an architecture of HEADQUARTERS+BRANCH model in which “Bifrost Chain” is the headquarter containing the logic for all actions performed and any action done on the branch chain sends the input to Bifrost for computation and execution.
Due to its omni-chain architecture, Bifrost Finance:
- Reduces the complexity of cross-chain
- Has a unified liquidity model
- Provides higher scalability
- Easy Integrable
- Provide Higher Interoperability
And much more… And this is what makes it different, scalable, and secure from any other LSD players out in the blockchain space. They currently provide LSD for 9+ blockchains and beyond and are a dedicated layer-1 built on Substrate with XCM for cross-chain staking. They currently provide models for
- vStaking model for $DOT, $ETH, $FIL, $ASTR, $GLMR
- Bifrost Finance Farming
- Swap & Cross-Chain
Partnership with AirLyft:
Team AirLyft and Bifrost Finance share a rich history of collaboration, working seamlessly to promote awareness and usage of financial instruments developed on Bifrost substrate. In a joint effort, we are set to roll out a series of targeted and compelling campaigns, strategically designed for educational, engaging, and community-building purposes. These initiatives aim to not only inform but also provide users with hands-on experiences, fostering active participation and promoting the adoption of Bifrost products and social initiatives.
Official Bifrost community page at AirLyft
Check out the different campaigns already hosted by Bifrost Finance over the past year and continuing.
Bifrost Official Links:
- Official Website
- Official Documentation
- Bifrost Grants Program
- Official Telegram
- Official Twitter
- Official Discord
About AirLyft:
AirLyft is a decentralized, multichain, growth hacking platform for projects to establish, expand, and engage their community. It is a feature-rich platform to incentivise on-chain/off-chain actions by the community. It also automates the validation, reward creation as well as distribution, thereby saving hundreds of hours of marketing & development effort and making campaign creation and participation a seamless experience.