Polkadot Unlock Harvest 2.0 Review: 2,300,000 DOT Liquid Staked on Bifrost in 30 Days

The 2nd Round of the Polkadot Unlock Harvest campaign has come to an end and we are glad to share with you the incredible results achieved.

After a first round with over 1,800,000 vDOT minted on Bifrost, this time we have surpassed the previous milestone hitting an astonishing result of over 2,300,000 DOT liquid staked into vDOT on bifrost.app!

By the time we are writing this content, Bifrost has become the Liquid Staking protocol providing fully decentralized LST, with the highest amount of DOT staked, becoming the leader protocol of the Polkadot LST ecosystem.

Outreach

This attracted the participation of many users in this round of the event:

• 66,382 DOT participated in vDOT farming, ultimately converting to a minting volume of 52,187 vDOT.
• 1,315 addresses were invited, collectively staking 709,287 DOT and minting 557,616 vDOT.
• 2,954 addresses participated in minting, collectively staking 2,095,325 DOT and minting 1,647,271 vDOT.

Rewards

In this second round of the event, Bifrost team set up multiple reward pools and incentives to support the minting of vDOT, including:

• vDOT Farming Pool: vsDOT holders can stake vsDOT in advance and automatically receive vDOT after the release of the second round of crowd lending, without the need for manual operation. Participating in vsDOT Farming allows users to share the rewards from this pool.
• Invitation Incentive Pool: Users can invite others to mint vDOT, and the pool is divided based on the number of invites and the amount staked by each invitee.
• Raindrops Pool: Users minting vDOT can earn Raindrops points, and they can also earn bonus points by completing specific tasks. The pool is divided based on the points earned by each participant.

As announced via Bifrost official social media pages, the addresses who joined the event and contributed to reach such an incredible goal will be rewarded with an airdrop of 124,000 BNC tokens!

These rewards will be distributed proportionally to stakers who collected Raindrop points minting vDOT, inviting friends and being part of the farming pools.

The distribution will proceed linearly - on a weekly basis - following a vesting period.

Results

Overall, during the last two rounds of Polkadot Unlock Harvest, a total of over 4,100,000 DOT were staked into Bifrost, leading to an increase of vDOT minting volume and a growth percentage of 187% in less than 6 months.

During the event, we have received massive support and recognition from the community of vDOT holders and users. This support and recognition stem from some extra features of vDOT, announced over the last few months:

1. Governance Voting Retention Power: vDOT holders can participate in governance voting in OpenGov, just like they do with DOT.
2. Airdrop Eligibility: Airdrops within the Polkadot ecosystem for DOT holders will be fully distributed to vDOT holders. Currently, vDOT holders have received eligible $PINK and $DED as airdrops.
3. Ecosystem interoperability and composability: vDOT holders can not only trade it at any time but are also able to create higher compounded yields and more utility in the Polkadot DeFi ecosystem.

What’s Next?

The 3rd round of the Polkadot Unlock Harvest will be probably announced in April, consequent to the unlocking of the DOT contributed to the third Polkadot round of Parachains Auction, among which the contribution made by users to Bifrost itself stands out.

Thanks for being part of the Liquid Staking Revolution!