Bifrost will support the Energy Web Crowdloan to win a parachain slot on Polkadot. Energy Web is a global non-profit on a mission to accelerate the energy transition by developing and deploying open-source Web3 technologies that help companies unlock business value from clean and distributed energy resources.
Although business models supporting clean and distributed energy have long been clear, they aren’t scaling quickly enough to achieve global decarbonization targets. To make the global energy transition successful, the energy sector needs digital technology that enables a fundamentally different way of working, reducing the cost and complexity of coordinating a multiplicity of companies with different roles, objectives, and IT systems.
According to the Energy Web team, crowdloaners will receive 1 EWT for each 1 DOT contributed. Bifrost will provide crowdloan participants supporting Energy Web with direct access to liquid derivative DOT (vsDOT) when they will contribute to the crowdloan through Bifrost, allowing users to remain liquid throughout the parachain lease period of 2 years.
Using our Slot Auction Liquidity Protocol (SALP), users can crowdloan their favorite projects and access derivative DOT (vsDOT), which provides liquidity as it can be exchanged at any point when liquidity is required. When you crowdloan using SALP, you receive vsDOT and vsBOND, which can be exchanged at any moment to ensure maximum capital utilization.
It is important to note that crowdloan rewards are guaranteed even if a user swaps the derivate DOT for other tokens, but an equal amount of derivate DOT is required to claim the tokens used for crowdloaning.
Users who want to contribute to the Energy Web crowdloan can utilize Bifrost’s SALP and remain liquid for the parachain lease.
Contribute to the Energy Web Crowdloan HERE!
