Bifrost reaches its crowdloan soft cap of 300,000 DOT ahead of the Polkadot parachain auction |

Bifrost reaches its crowdloan soft cap of 300,000 DOT ahead of the Polkadot parachain auction |

Bifrost, a blockchain powered gaming platform with decentralized gambling and crowd funding functionality has reached its hard cap of $300,000 in donations ahead of the Polkadot parachain auction.

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The “bifrost cap” is a soft cap that has been reached ahead of the Polkadot parachain auction. The bifrost token sale was announced on October 10th, 2017 and ended on November 6th, 2017.

Bifrost reaches its crowdloan soft cap of 300,000 DOT ahead of the Polkadot parachain auction |

The crowdloan soft cap for Bifrost’s Polkadot parachain auction has been achieved. Bifrost is a decentralized cross-chain liquidity provider for staked assets.

The protocol presently has approximately 369,000 DOT in its crowdloan as it prepares to compete in Polkadot’s 16th, 17th, 18th, and 19th auctions for a two-year parachain position.

Bifrost is prepared to switch from Kusama to Polkadot.

Around 320 wallets donated over 100,000 DOT in the four days since it began its crowdloan.

With the Polkadot parachain auction due to begin on Friday, April 29th, Bifrost expressed confidence in securing a slot and using the Polkadot network’s interoperability, scalability, and security to construct its staking liquidity solution.

Bifrost is a Web3 derivatives system that offers staked assets with decentralized cross-chain liquidity. Polkadot’s interoperability and scalability are important to the firm since its objective is to offer staking liquidity for over 80% of PoS networks. Bifrost will be able to safely transport billions of staking assets by tapping into Dotsama relay networks, parachains, and heterogeneous chains bridged.

On Kusama, the protocol was a huge success, being the 5th parachain to win with 142,500 KSM from around a third of Kusama wallets. Bifrost’s Kusama parachain achieved capital growth of $125 million, according to Lurpis Wang, the company’s creator. This demonstrates to users the security and economics Bifrost provides.

“We’re prepared to take the next major step.” Bifrost will provide an interoperable cross-chain bridge between Kusama and Polkadot, sparking the tens of billions-of-dollar StakeFi ecosystem. We couldn’t have done it without the help of our incredible community.”

Bifrost claims it’s ready to make the switch to Polkadot nine months after winning the Kusama bid. Bifrost will be able to establish a bigger scale DeFi protocol and attain 10x its present market value by bridging from Kusama to Polkadot. 

During the transition, the platform will leverage the Polkadot-Kusama bridge to cross-chain Bifrost’s Kusama assets to Polkadot and seamlessly migrate all current Kusama enterprises to Polkadot. The firm said that it would preserve both the Kusama and Polkadot parachains until the migration is complete, after which it will use its Polkadot parachain to service both ecosystems.

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By obtaining a Polkadot parachain slot, both DOT and KSM staking will be accessible on the Bifrost parachain. The platform will be one step closer to attaining cross-chain staking liquidity on all Dotsama parachains and relay chains with the enhanced compatibility. 

“After the amazing services they have been giving users, including DFG, to participate in the Kusama and Polkadot crowdloans, we are really thrilled to see Bifrost trying to attain a parachain slot,” said James Wo, the founder and CEO of DFG and one of Bifrost’s main investors. “We feel they have earned their position among the greats.” 

Bifrost reaches its crowdloan soft cap of 300,000 DOT ahead of the Polkadot parachain auction |

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The “bifrost coinmarketcap” is a cryptocurrency that has been created by the Bifrost Network. The goal of the project is to reach its crowdloan soft cap of 300,000 DOT ahead of the Polkadot parachain auction on October 18th.

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