Bifrost - dAPP Staking Application

Governance dApp Staking Applications
1

Introduction

Hello Astar Community,

We’re excited to submit our application to the Astar dApp Staking program and introduce Bifrost - an old friend of Astar, in synergies on top of ASTR liquid staking.

This proposal is a strategic step towards embedding multi-chain ASTR staking, allowing anyone to stake ASTR across Base, Arbitrum, ETH mainnet, Soneium and etc.

Abstract

  • Bifrost is a dedicated liquid staking app chain leveraging off the Polkadot SDK and serving the omni-chain ecosystem.
  • Bifrost is currently one of the largest Polkadot rollups in terms of Total Value Locked (TVL) with over $100M. It also has the largest TVL for liquid staked DOT (vDOT) with over 19M DOT ($75M). Bifrost has liquid staking solutions for other networks such as Astar (vASTR), Ethereum (vETH), Manta (vMANTA), Moonbeam (vGLMR), and Kusama (vGLMR).
  • Bifrost launched the first and only ASTR LST with vGLMR in November 2022 and currently has a TVL of over 84,687,064 ASTR ($2M) with over 14,440 holders and is supported on both Substrate and EVM via omni.ls through SLPx

Synergies on vASTR

Monitor growth stats via Bifrost App

The growth data of vASTR within 6 month (liquid staked token of Astar Network/Soneium):

  • 300%+ TVL growth on staking
  • Boosted holder address from 968 to 13,078, with more than 1,300% growth rate.
  • Expanded ASTR staking to more networks: Bifrost, Moonbeam, Astar, Soneium

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Built up DeFi singularity with massive use cases

  • Get listed in CoinGecko and CMC
  • Get listed and being incentivized in DEXs like Hydration

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Marketing & Builder exposures

  • Exposures from Bifrost partners

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Next Step

By leveraging SLPx, vASTR can be minted across Base, Arbitrum, BSC, Ethereum mainnet and more, this function is onboarding at Omni LS

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dApp Staking Reward Usage

We plan to use dApp staking rewards for vASTR incentive and cover the bridge cost.

We’d love to hear your feedbacks, questions.

Resources

Community:

Discord;

Twitter;

Telegram

12 Likes
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I’m very happy to see your application, I’m absolutely in favor.
In the first campaign between Astar and Soneium (SURGE), I participated 90% with vASTR.
I hope to see broader integration into the Soneium ecosystem from now on🤝🏻

1 Like
3

I’m increasingly happy to see dApp staking requests from such relevant projects like this one – BIFROST.
I’ve been using the Bifrost platform for a long time, and within the Polkadot ecosystem, I believe they are the most long-standing and well-structured LS protocol. Through OMNI.LS, they have also brought their service to Soneium. I’m absolutely in favor of having them in our dApp staking.

One question that will surely interest many community members:
Do you already have in mind any rewarding system for users who choose your dApp by staking through dApp staking?

2 Likes
4

The Bifrost team has been part of the Astar ecosystem for a long time, and their product is excellent and highly used within the Polkadot ecosystem.

Their application is well received, as they are a great fit for what Astar dApp Staking stands for: rewarding real builders so they can continue improving their project.

I share my support for their application.

1 Like
5

I welcome your application.
Thank you for clearly outlining the dApp Staking rewards. Regarding the bridging cost, could you share how much is expected to be consumed?
I’m not well-versed in DeFi, but I do get the impression that bridging fees tend to exceed gas fees. I understand that dApp Staking rewards are meant to help offset these costs, but it would be helpful if you could provide even a rough estimate of how much of the cost can be covered by the rewards. That would provide greater clarity.

2 Likes
6

Accumulate and incentivize vASTR liquidity on Sonieum.

1 Like
7

Hoping to see vASTR becoming increasingly integrated across all SONEIUM DeFi dApps more and more :smiling_face_with_sunglasses:

1 Like
8

I’m really happy to see Bifrost adopting dApp staking; in my opinion, we need participants of this caliber.

I’ve used vASTR and the Bifrost parachain and can only be completely supportive. I think token management for any staker bonuses can be done in later phases once we have more data on how many stakers you’ll have and how many tokens you’ll receive as rewards.
Welcome to the Astar family ! :star:

9

Thank you for the proposal!

I’ve been a user of Bifrost since the early days, and I’m happy to see you here. There’s no doubt about the quality of your products.

This isn’t directly related to the current proposal, but I do have a few questions about your products.

  1. Which dApps will the ASTR staked as vASTR be delegated to?
  2. Also, similar to vDOT, will it be possible to participate in governance through vASTR?
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The Bifrost team has consistently delivered strong liquid staking infrastructure across multiple ecosystems, including Astar. Their proven track record, impressive growth in vASTR adoption, and deep integration with DeFi and oracle networks make them a valuable contributor to Astar’s multi-chain vision.

I fully support their application to the dApp Staking program.

11

I’m very pleased that Bifrost is joining the ecosystem together with us. May I ask a few additional questions?

  1. What are the advantages and strengths of Bifrost compared to other projects? What does the team think are the project’s advantages?

  2. In terms of costs, what are the team’s costs in various areas? Do you have any details?

  3. Additionally, regarding the project’s revenue - what sources will it come from?"

12

Great proposal. I’m strongly in favor of incentivizing vASTR through Bifrost.

Since Astar has its roots in Substrate and Polkadot, it’s important to create use cases for the token wherever it exists.

While the current focus is on Soneium and Ethereum, Bifrost can serve as a key hub for liquid staking use cases within the Polkadot ecosystem.

I’m fully supportive of this proposal.

13

Fully Support this! Bifrost has been the go to Liquid-Staking player since the early days. Never any flaws. Insane they also contributed so heavily without being part of the dapp staking program at first. Keep it up guys

1 Like
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Finally, this proposal has arrived! I’ve been waiting for Bifrost to join Astar’s dApp Staking – it’s a big win for liquid staking and cross-chain use cases. I can’t wait to see the increment of vASTR liquidity and its use more incentivized into Soneium’s DeFi ecosystem.
Full support from me! :heart::rocket:

2 Likes
15

Bifrost, with its vASTR deployed across multiple networks, has long deserved to be part of dAppStaking. I fully support this proposal.

1 Like
16

Brifrost is undoubtedly one of Astar DeFi’s mainstays, his chain contribution has helped expand Astar’s ecosystem towards polkadot. Delighted with your nomination, you have a lot of merits to be here.

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Thanks for all the support and suggestions!
@Community_Council May I now ask community council to proceed with the next step?
Our native astar wallet address is : XynyG1hjUEnjFNACrf5STRaMXmAqKXDe17oyBoyQeiyzPJ7
(Bifrost Foundation)
Deployed contract address on Astar is 0xc6bf0C5C78686f1D0E2E54b97D6de6e2cEFAe9fD
for registration.

1 Like
18

Hey @Tyrone,

Congratulations! Bifrost is whitelisted to Astar dapp staking.

Please, proceed with the registration.

3 Likes
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The time has come, welcome to Astar dApp Staking, Bifrost!

1 Like
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Hey @pitcoin777 , thanks to your support!

My apologies that I might need to request to change the beneficiary address, as using our Foundation address to edit information is very tricky for us.

@Community_Council Can we change to b1jNiTyYUnJyznkPcD7efE1jCMnn9UYPdGUgKWbokamFZKZ

Thanks a lot.

2 Likes