Bifrost vs Others
Last updated
Last updated
Have a look to the blog article: The Feedback and Growth Potential of Bifrost
Bifrost, as a blockchain, can provide LSTs with a more diverse omni-chain adaptation scenario:
Standardized RPC to be integrated by different consensus.
Concentrate liquidity on a single spot to support omni-chain applications.
Retain governance rights.
All types of tokens can be staked through Bifrost DApp.
Bifrost LST can be set as Gas Fee.
Leverage staking
By using intelligent node filtering, Bifrost can provide a Token base APY that is more competitive than other products. The Defi use case scenario of LSTs makes it easier for users to compound more profits.
Many liquid staking projects on the same track directly deploy contracts on other chains without having their own chains. Why does Bifrost build a chain?
To answer this question, it is necessary to clarify the concept of vTokens in the architectural design: most liquid staking protocol are built on the original chain.
Lido’s ETH liquidity staking protocol is an Ethereum contract implemented in the Solidity language, while Lido’s SOL liquidity staking protocol is a Solana contract implemented in the Rust language. Thus, the native chain for Lido staking derivative, stETH, Ethereum derivative, and its native format is ERC-20. Lido’s SOL (native chain) staking derivative is Solana, while the native format is SPL.
The vToken adopts a cross-chain minting scheme.
All vTokens are minted on the Bifrost chain. That is to say, all vTokens are on Bifrost chain. Since Bifrost is a Kusama/Polkadot parachain, all vTokens are native assets of the Dotsama ecosystem.
The future is omni-chain!
This is one of our fundamental judgement. Based on this, we believe that cross-chain applications will be the main form of dApps in the future, and that cross-chain calls between different applications on different chains will be the norm.
Therefore, Bifrost has designed many of its DeFi products, including the SLP protocol, with the ease of cross-chain integration in mind. And we believe that the entire ecosystem (including the heterogeneous chain ecosystem that bridges into it) and XCM-based communications will further enable cross-chain integration between applications.
