Monthly Report | Bifrost announces its 2024 Roadmap and a Grants Program to build the future of LSTfi

Development

Bifrost v0.9.96

• Optimized SLPx implementation logic to rectify cross-chain execution order issues
• Reduced transaction fees on a single network to approximately 0.08 BNC
• Improved the handling of cross-chain fees in SLP asset management to prevent depletion of small asset reserves
• vToken governance participation now allows an immediate refresh of the vToken quantity locked in a proposal after changing the voting amount
• Introduced a method to automatically clear expired VBLs

Bifrost v0.9.98

• Improved certain management operation permissions
• Refined the cross-chain feed price fee logic for SLPx
• Optimized the treasury expenditure fee destruction logic to ensure the success of cross-chain operations
• Refined the commission channel logic and added a function to delete commission tokens
• Updated the algorithm for single transaction amounts in the treasury vToken to token exchange
• Granted permissions for vsDOT to repurchase from stable swap

Omni LS 1.0.4

• Added support for vMANTA on the Moonbeam network
• Included support for vMANTA on the Manta Pacific network

Products

Liquid staking minting has grown significantly over the last month.

• vDOT had a net increase of 1,614,453 in one month, resulting in a total minting volume (TVS) of 9,642,363, a single-month. An increase of 16.74%.
• The TVS of vASTR exceeded 24,446,732, with over $2.5M locked in total position.
• Bifrost TVL this month has reached $101,737,483!

HydraDX has finalized the Polkadot Treasury liquidity application this month and transferred 1,000,000 DOT to Bifrost to complete cross-chain minting of vDOT. This marks the third interoperable LST use-case implemented by HydraDX and Bifrost. More details can be found Here.

Bifrost is currently integrating with Mimir, aPolkadot Multi-sig tool. This integration will provide users with more wallet options for the Bifrost App and simplify the multi-sig process. Mimir allows for easy Multi-sig creation and modifications at a user level. Here is a related usage guide.

On April 17th, Bifrost Discord has been implemented with the vToken Watchman tool, which syncs on-chain transactions in real-time and publishes all vToken minting/redemption requests. This allows the community to stay updated on the latest on-chain developments of vTokens. You can learn more Here.

Marketing

• On April 5th, Bifrost Co-founder Lurpis and other project guests attended the Decoding Polkadot 2.0 conference to discuss future development opportunities within the Polkadot ecosystem.
• On April 6th, the Bifrost team took part in the Festival Web3 event in Hong Kong, where attendees had the chance to meet our team at the Polkadot booth and learn more about LST.
• The Web3/AI Summit in Tokyo started on April 13th, and the Bifrost team had the chance to meet other Polkadot and parachains representatives to provide attendees with a deeper understanding of future trends in Web3, LST, and the Polkadot ecosystem.
• The Bifrost Grants Program has been also launched this month, providing an opportunity for builders, developers, and Web3 enthusiasts to contribute to the development of Bifrost and its LSTfi ecosystem. More info Here.
• Bifrost’s Product Manager, Tyrone, participated in the PolkadotPulse: Dubai Edition event on April 17th. He delivered a speech on Bifrost’s unique liquidity staking compared to metrics like APY or TVL, emphasizing the flexibility of its assets and the increasing opportunities to use them freely on various chains.
• Bifrost’s Business Strategy Lead, Thibault, met with participants at the Southeast Asia Blockchain Week (SEABW) 2024 on April 24th, discussing Web3 innovations and the latest developments in Polkadot.