Review | Bifrost Collator Public Beta Ends, Coming Soon to Mainnet BNC Staking

To realize the decentralization of the Collator operation, Bifrost will open the access to a Collator and launch the BNC staking module of the main network. Before that, we have launched the public beta of Collator. The public beta began on February 24 and ended on March 11 for 15 days. The safety and stability of Collator have been fully tested.

Collator data review

After completing the Bifrost Collator public beta, we have assembled a series of data statistics, including collator participation, delegator participation, and BNC (Testnet) faucet collection during the public beta. We can observe the security and stability of node operation and out of the block by counting these data.

Many Staking providers, including but not limited to HashQuark, InfStones, Staking Facilities, and Wetez, participated in the public beta. The data results are published as follows:

During the collator public beta from February 24 to March 11, a total of 63 Collators were successfully created. With the release of the number of active collators at different stages, registered Collators have been successfully elected as nodes, and new registered Collators have been added to the waiting list. As of 6:00 p.m. on March 11, the number of active Collators has reached 64, and there are 8 Collators on the waiting list.

Collator LSVT obtains 32590.70 BNCS (Testnet) at most. In terms of revenue, Collator HashQuark07 achieved an annualized revenue of up to 45.76% during the public beta period. For delegator, 7047 addresses participated in BNC (Testnet) Staking, with a total pledge of 641377.11 BNCS (Testnet).

Collator public Beta Award distribution

During the public beta of Collator, Bifrost has a total of 20000 BNC (Mainnet) prize pool, of which 40% is divided by Collator participating in the public beta and 60% by delegator participating in the public beta. The specific division of the prize pool is determined according to the number of BNCS (Testnet) obtained through the following events during the public beta:

  • Collator: Active Collator’s block reward, active Collator’s bonding

  • Delegator: Delegated active Collator

Input ! rank < BNC address > in Bifrost faucet. Then you can query the expected rewards of BNC participating in the ranking and sharing of the personal test network.

The 20000 BNC (Mainnet) award of the Collator public beta is expected to be distributed by Bifrost before March 15 . The award will be directly sent to the address of the Bifrost Collator participated by the winning users. There is no need for the user to collect it manually. Join Bifrost discord or telegraph to learn about the release announcement for the first time.

Bifrost Discord:Bifrost (Official)

Bifrost Telegram:Telegram: Contact @bifrost_finance

Collator summary

This Collator public beta aims to test the security and stability of nodes and outgoing blocks and prepare for opening the registration of Collator and realizing the decentralization of block collection. At the same time, early supporters have the opportunity to become familiar with the collator mechanism and provide support for Bifrost’s ecological incubation. Bifrost will also launch the main network Collator shortly and open the main network BNC Staking pledge!

What is Bifrost?

Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for staked assets to provide liquidity. Bifrost launched derivatives vToken for Staking and Polkadot Parachain Slot (Crowdloan). It has obtained $2.15M in fund-raising from NGC , SNZ , DFG , CMS and other institutions and Web3 Foundation Grant . It is also a member of Substrate Builders Program and Web3 Bootcamp.

vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, CEX, and realize the transfer channel of stake rights such as Staking and Crowdloan through vToken. Also, it can realize the risk hedging of stake assets and expand scenarios such as vToken as collateral for lending. Its staking reward part of the interest can be offset to achieve low-interest loans.

Learn more about Bifrost

Website | Github | Telegram | Medium | Twitter | Discord | Forum