Bifrost SALP will support the Polkadot auction on 9 November, announcing the first list of collaborative projects and additional rewards

Introudction

Since SALP began operations and supported the first to third consecutive rounds of slot bidding in Kusama Crowdloan, it has achieved its goal for the second half of 2021: to help six Kusama Parachain projects successfully bid and accumulate a total TVL of $59,670,344. In addition, SALP has a 100% probability of supporting bidding projects to get slots. In practice, SALP has performed very well in the Kusama Crowdloan.

SALP Introduction

As a service provider of Crowdloan Derivatives Liquidity for the Polkadot eco-parachain, SALP aims to provide parachain KSM/DOT voters with the Derivatives assets vsKSM/vsDOT and vsBond. vsKSM/vsDOT are traded in AMM at any time during the period when KSM/DOT is used for parachain lock-in and also for DeFi applications such as Liquidity Farming. Trading KSM/DOT in AMM can also be used for DeFi applications such as Liquidity Farming, while vsBond acts as a futures-like bond that can be traded in the future in the bond market offered by Bifrost. At the end of the Parachain lease, vsDOT/vsKSM and vsBond can be safely redeemed at a 1:1 exchange ratio for KSM/DOT. learn more about SALP.

SALP on Polkadot Crowdloan

After sufficient practice on the Kusama platform, the team plans to deploy SALP on Polkadot and support bidding for related projects. Prior to the opening of the Polkadot slot auction on 11 November this year, Bifrost will be opening the minting of Derivatives vsDOT + vsBond in the Bifrost Dapp Dot Slot module on Nov 7th and supporting the inaugural Polkadot Crowdloan bids for Moonbeam, Astar, Manta, Litentry, and Bifrost itself. These projects, the favourites for the inaugural Polkadot Crowdloan auction, will include SALP as one of the bidding channels to unlock the Liquidity of the parallel chain locked asset DOT. Bifrost Dapp vCrowdloan Dot Slot.
https://bifrost.app/vcrowdloan

Acala

Acala is the decentralized finance network and liquidity hub of Polkadot. It’s a layer-1 smart contract platform that’s scalable, Ethereum-compatible, and optimized for DeFi with built-in liquidity and ready-made financial applications. With its trustless exchange, decentralized stablecoin (aUSD), DOT Liquid Staking (LDOT), and EVM+, Acala lets developers access the best of Ethereum and the full power of Substrate.

By voting for the Acala Polkadot Crowdloan through SALP, you will be able to receive the following rewards and participate in Derivatives Farming activities.

SALP Contribution Rewards

  • 1 DOT will get ≥ 3 ACA

  • Each DOT that passes SALP to vote for Acala will get an additional 0.035 BNC

SALP Derivatives Farming

  • SALP Farming Pool: 5000 BNC

  • Farming Duration: 7 days

Moonbeam

Decentralized and permissionless, Moonbeam provides an Ethereum-compatible smart contract platform that makes it easy to build natively interoperable applications. Powered by the Polkadot network.

By voting for Moonbeam Polkadot Crowdloan through SALP, you will receive the following rewards and participate in Derivatives Farming activities:

SALP Contribution Rewards

  • 1 DOT will get ≥ 1 GLMR

  • Each DOT that passes SALP to vote for Moonbeam will get an additional 0.035 BNC

SALP Derivatives Farming

  • SALP Farming Pool: 5000 BNC

  • Farming Duration: 7 days

Astar

Astar Network (previously known as Plasm) is a dApp hub on Polkadot that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups. Astar aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines. Polkadot Relay Chain doesn’t support smart contracts, that’s why it’s important for the ecosystem to have a parachain that enables this for all developers who want to build in the Polkadot ecosystem. Astar is here to provide the best solution for all developers by not only supporting EVM but making a parachain where EVM and WASM smart contracts can co-exist and communicate with each other. Astar is also ready to answer the need for scalability by providing layer 2 solutions from day 1.

Besides being a true supporter of Gavin Woods’s vision and by building on Substrate from the early days. Astar received the most Web3 grants in the Polkadot ecosystem with a total of 7. Astar believes that we and all other projects in the Polkadot ecosystem are building the future Web3.0 infrastructure.

By voting for Astar Polkadot Crowdloan through SALP, you will receive the following rewards and participate in Derivatives Farming activities:

SALP Contribution Rewards

  • 1 DOT will get ≥ 45.5 ASTR

    • vsDOT bonus 10%

    • Early bird bonus 20% (Before 11/18/2021)

  • Each DOT that passes SALP to vote for Astar will get an additional 0.035 BNC

SALP Derivatives Farming

  • SALP Farming Pool: 5000 BNC

  • Farming Duration: 7 days

Manta

Manta Network is the on-chain privacy solution for blockchain assets build from the first principle. In short term, Manta will be a product that enables high-performance private DeFi transactions, such as FT/NFT transfer and AMM styled swap. In the long term, Manta will be the platform for privacy-preserving blockchain applications.

SALP Contribution Rewards

  • 1 DOT will get ≥ 5.4 MA

    • vsDOT bonus 25%

    • Early bird bonus 10% (Before 11/18/2021)

  • Each DOT that passes SALP to vote for Manta will get an additional 0.035 BNC

SALP Derivatives Farming

  • SALP Farming Pool: 5000 BNC

  • Farming Duration: 7 days

Litentry

Litentry is a Decentralized Identity Aggregator that enables linking user identities across multiple networks. Featuring a DID indexing protocol and a Substrate-built distributed DID validation blockchain, Litentry provides a decentralized, interoperable identity aggregation service that mitigates the difficulty of resolving agnostic DID mechanisms. Litentry provides a secure vehicle through which users manage their identities and dApps obtain real-time DID data of an identity owner across different blockchains.

For more information on Litentry’s Farming Prize with SALP, please see the article: Bifrost SALP will support Litentry Polkadot Crowdloan . Those who vote Litentry with SALP and hold vsKSM + vsBond-LIT will be able to participate in the Farming and receive the prize. The campaign will be open until 11 November.

SALP Contribution Rewards

  • 1 DOT will get ≥ 3 LIT

    • vsDOT bonus 10%

    • Early bird bonus 10% (Before 11/11/2021)

  • Each DOT that passes SALP to vote for Litentry will get an additional 0.035 BNC

SALP Derivatives Farming

  • SALP Farming Pool: 5000 BNC

  • Farming Duration: 7 days

Next Step

With the partnership with Bifrost SALP, Contribute partners to the above projects will have the advantage of unlocking the parachain lockout DOT Liquidity release. Partners who vote for Moonbeam/Astar/Manta/Litentry/Bifrost via the Bifrost Dapp DOT Slot will receive Derivatives: vsDOT and vsBond alongside the rewards offered by the candidate parachains, with the option to :point_down:

  • You can choose to use vsDOT to redeem DOT at an early discount to hedge against risks

  • You can choose to use vsDOT to participate in the vsDOT SALP Farming activity

  • You can wait until the slot lease ends (after 96 weeks) and use vsDOT+vsBond 1:1 to redeem Back to DOT

The vsDOT SALP Farming campaign for the above supported projects will also be published in a future article. Look out for the DOT Slot Contribute: Bifrost

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