Bifrost, a decentralized cross-chain liquidity provider for staking assets, has reached its limit (crowdfunding) minimum for auction .

Polkadot

Follow statistical, the protocol currently has more than 369,000 contributed to as they prepare to participate in the auctions on the 16th, 17th, 18th and 19th of to win a place with a two-year lease.

Bifrost will convert from Kusama to Polkadot

In the 4 days since the introduction of the crowdloan, about 320 wallets contributed more than 100,000 .

With the Polkadot parachain auction set to begin on Friday, April 29, Bifrost says it's confident of winning a slot and harnessing the interoperability, scalability, and security of the Polkadot network to build. Staking liquidity solution.

Bifrost is a Web3 derivatives protocol that provides decentralized cross-chain liquidity for staking assets. The company's mission is to provide liquidity to more than 80% chains . That's why the company pays attention to Polkadot's interoperability and scalability. Exploit Dotsama, parachain and heterogeneous chain interconnected will allow Bifrost to safely store billions of staking assets.

The protocol achieved great success on , became the 5th parachain on the network and won with 142,500 from about a third of wallets . Lurpis Wang, founder of Bifrost, said that parachain of Bifrost achieved a capital growth of $125 million, showing users the safety and economics that Bifrosts offers.

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“We are ready for the next big step. Bifrost will build an interoperable cross-chain bridge between Kusama and Polkadot, blowing up the tens of billions of dollars in StakeFi ecosystem. We could not have done this without the support of the amazing community.”

Nine months after the successful Kusama auction, Bifrost said it was ready to convert to Polkadot. The connection from Kusama to Polkadot will allow Bifrost to create a protocol to a larger scale and achieve a market value of 10 times its current value.

The platform will utilize the Polkadot-Kusama bridge during the transition, cross-chain Bifrost's Kusama assets to Polkadot, and smoothly migrate all existing business from Kusama to Polkadot. The company will maintain both the Kusama and Polkadot parachains until the migration is complete, and then serve both ecosystems using the Polkadot parachain.

Winning a parachain position on Polkadot means that the Bifrost parachain will have both DOT and . The new compatibility will bring the platform one step closer to achieving cross-chain staking liquidity across all parachains and by Dotsama.

“We are delighted to see Bifrost achieve parachain status following the exceptional services they provide to users (including DFG) to participate in the Kusama and Polkadot. We believe they deserve their place among the greats,” said DFG founder and CEO James Wo and one of Bifrost's key investors.