Ano ang Bifrost? (BNC)
The Beginner’s Guide to Bifrost BNC
Ang Bifrost ay isang proyekto na binuo sa Kusama na nagpapahintulot sa mga user na makilahok sa decentralized finance (DeFi) applications habang kumikita ng mga staking reward sa kanilang cryptocurrency.
Ang cryptocurrency staking ay pinapayagan ang mga user na i-lock ang kanilang token sa mga smart contract upang kumita ng mga staking reward. Subalit, isa sa mga pangunahing limitasyon kasama ng tradisyonal na staking ay ung mga naglock ng kanilang cryptocurrency ay hindi ma-access ang kanilang mga pondo para makilahok sa iba't-ibang DeFi activities.
Ang Bifrost team ay naghahangad na matanggal ang partikular na blocker sa pamamagitan ng pagpapakilala ng liquid staking, isang konsepto na pinapayagan ang mga user na magstake ng kahit anong cryptocurrency gamit ang Bifrost platform, tulad ng DOT o ETH, at tumanggap ng token na pantay ang halaga (vDOT o vETH) sa exchange.
Ang mga vTokens pagkatapos ay papayagan kahit sino na ma-access ang DeFi sa Kusama nang hindi kailangang magbigay ng higit sa isang maliit na halaga ng kanilang mga staking reward.
Ang token ng Bifrost na BNC ay inaasahang mai-airdrop sa mga miymbro ng kumunidad na gumagamit ng kanilang KSM, ang cryptocurrency ng Kusama. Upang bumoto para sa application upang gumana bilang isang parachain sa Kusama sa prosesong tinatawag na Parachain Auction.
Bifrost BNC Network Design
The Bifrost parachain is designed to act as an additional layer between Kusama’s Relay Chain and the application layer within the Kusama network.
Participants can send their proof of stake (PoS) cryptocurrencies (like ETH, KSM or ADA) to the Bifrost protocol and convert them to a corresponding vToken (vETH, vKSM or vADA) in order to earn staking rewards.
vTokens give these participants the liquidity they need to participate in the Bifrost DeFi ecosystem. For example, those who own vTokens can use vTokenSwap, an automated market maker (AMM) trading pool that allows them to trade between 64 pairs in a single pool of 8 currencies.
Of note, vToken holders can also use them to access other DeFi applications in parachains built on the Kusama network.
BNC Token Launch & Issuance
The Kusama network is built to operate two types of blockchains:
- Relay Chain – Kusama’s main blockchain that provides the network’s main security and is where transactions are finalized and settled
- Parachains – Custom blockchains that leverage Kusama’s relay chain security and access one of its limited parachain slots
Bifrost is one of the first projects to bid for a parachain slot in the Kusama network through a parachain auction.
During a parachain auction, Kusama holders can bond their KSM in support of the project they believe should receive a parachain slot. At the end of a determined period of time, the project with the most KSM committed to their campaign generally wins access to a parachain slot, allowing them to operate on Kusama’s network for a 6-48 week period.
The Bifrost team will crowdsource support for its parachain auction bid by accepting community contributions. If Bifrost wins an auction, supporters are expected to receive Bifrost’s BNC token.
Of note, if Bifrost fails to win a parachain slot, the KSM committed to their bid by community participants will be returned at the end of Bifrost’s auction campaign. If Bifrost wins an auction, the bonded KSM will be returned to participants when Bifrost’s access to the parachain slot expires.
For more information on Kusama parachain auctions, visit our Parachain Auctions page which covers the topic in more depth.
Bifrost BNC Tokenomics
The BNC token plays a key role in maintaining and operating the Bifrost network and can be used for:
- Transaction fees – These fees are collected for transfers, transactions and staking actions done on the Bifrost network and held in a treasury to support network development.
- Collateral – Participating nodes stake BNC to ensure good behavior. Collateral will be increased or decreased based on node performance.
- Governance – BNC holders gain the ability to propose and/or vote on network upgrades, with each vote being proportional to the amount of BNC cryptocurrency they hold
Like many other cryptocurrencies, the total supply of BNC is limited to 80 million BNC tokens, roughly 2 percent of which will be allocated to those who participate in the Kusama parachain auction.
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