The project launches vToken (Staking Deriuct Voucher Token) to be able to convert PoS Token to vToken, this makes it possible for users to get more rewards from the mechanism and increases the liquidity in the system.
Is one parachain Designed for liquidity for staking assets, Bifrost now allows users to get vToken and staking rewards if they use services on the decentralized app.
The platform said in a post earlier in the week that with the application of SALP business, 46,006 addresses have been acquired vsKSM and vsBond, and the total number of mints has reached 20,503.72 vsKSM and 20,503.72 vsBond.
In addition to providing vsKSM and vsBond with pre-pool channels and use cases, Bifrost has launched vsKSM Farming functionality.
Farming vsKSM on Bifrost
Hodler needs to stake vsKSM and vsBond in 1:1 ratio in Farming Pool to get mining revenue. It should be noted that having different vsBonds means having different mining rights, such as vsKSM + vsBond (Kintsugi) can only join Kintsugi Pool and vsKSM + vsBond (Heiko) can only join Parallel Heiko Pool. It is understandable that vsBond is the ticket to a particular Pool and vsKSM is the main miner.
Each pool has its own open window. After the pool is closed, you will not be able to participate in mining, but that does not affect the payment cycle and the income of the users who are mining.
Kintsugi Early Bird Pool has a farming time of 7 days, with an expected reward of 100 KSM + 1500 BNC (expected annual rate of return (APY): 1043% + BNC).
When the pool's total staking reaches 500 vsKSM & vsBond (Kintsugi), it is estimated that with 1 vsKSM & 1 vsBond (Kintsugi) staked, each block can get a reward of at least 0.00000414 KSM and 0.00006211 BNC.
On the other hand, Parallel The Heiko Early Bird Pool has a similar farming time of 7 days, with a reward of 100 KSM + 1500 BNC and an APY of 1043% + BNC.
In Bifrost's plan, vsKSM Farming is not only a short-term incentive, but also a function that will last in the long run. This means that mining will be a fixed effect of vsKSM and users no longer have to worry about mining. hodl vsKSM without interest.
As Bifrost applies SALP to more auction projects, more pools will be launched in the future. At the same time, the liquidity pool modules of vsKSM and vsBond will be launched soon. Users who want to mine can also choose to buy vsKSM and vsBond to participate.