vGLMR & vMOVR
How to get GLMR and use vGLMR
vGLMR characteristics
vGLMR unstaking period: 0~7 days (flexible)
OpenGov: No
Reward fee: 10% (apply to rewards only)
Unstake fee: 0.1% (apply to unstake amount)
Youtube tutorial:
Get GLMR on Bifrost
Before minting and using vGLMR you first need to hold GLMR in the Bifrost network. Prepare GLMR on your EVM/native wallet address: - Purchase GLMR on CEX or DEX - Buy GLMR with credit card with fiat on-ramp solutions (i.e Banxa) - Withdraw from other ecosystem parachains (HydraDX, Moonbeam, Astar...)
Login to bifrost.app and confirm the network in the upper right corner is Polkadot
Click "Cross chain" in the main navigation menu on the left to enter the cross chain function
Click on the "From" option and select Moonbeam. You will be asked to connect your EVM wallet and switch to Moonbeam network.
As indicated, you can also use the official Moonbeam app to do the cross chain operation.
Enter the amount of GLMR that needs to be crossed in into Bifrost, and click "Cross in" to complete the confirmation and sign the transaction. Finally wait for the transaction to be completed (6 to 12s). You successfully deposited GLMR on Bifrost !
Stake GLMR
Click on vStaking in the main navigation menu, then click vGLMR to enter the vGLMR page
Enter the amount of GLMR to be minted into vGLMR in the right panel (2.5 GLMR is the minimum)
Click on "Stake" button, confirm and sign the transaction. Once vGLMR are minted they are directly deposited in your Bifrost wallet.
Unstake GLMR
There are 2 options to unstake GLMR from vGLMR.
Full unstaking request (you retain full vGLMR value)
Lightning mode (you swap at market price, most of the time you won't get full value)
On the vGLMR page, click the toggle button in the middle of the right panel so that vGLMR is at the top
Enter the amount of vGLMR that needs to be redeemed
Click on "Unstake" button, confirm and sign the transaction
Go to "Unstake" tab in the top navigation of the vGLMR page to view the latest progress of your request
Unstake GLMR (lightning mode)
On the vGLMR page, click the toggle button in the middle of the right panel so that vGLMR is at the top
Turn on the lightning mode option in the GLMR part
Enter the amount of vGLMR that needs to be redeemed into GLMR
Click on "Swap" button, confirm and sign the transaction
You will get GLMR immediately back in your wallet once the swap is executed
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