Singapore, Singapore, January 10, 2025, Chainwire
Bifrost introduced that vDOT, Polkadot’s largest liquid staking token (LST), has been listed as a collateral asset within the hydration cash market. Inside 15 hours of beginning deposits and borrowings, vDOT reached its provide restrict of 220,000, exceeding $2.2 million. whole (EPA:) Demand-driven Worth Lock (TVL) by DOT.
Integrating vDOT into the cash market will allow new methods for Polkadot’s DeFi members. Staking (DOT) permits members to obtain vDOT and use this as collateral to borrow further DOT. This course of permits you to iterate by way of the cycle and contemplate methods aimed toward optimizing income. With this introduction, Bifrost unlocks the chance of what’s doable with Polkadot DeFi, creating synergies and flywheels within the ecosystem. Customers are provided the chance to earn double yield, borrow staked tokens with out sacrificing liquidity, and leverage their positions to earn increased yields. This synergy will enhance liquidity within the DOT market, drive consumer adoption, exemplify the DeFi composability of the Polkadot ecosystem, and make vDOT a foundational asset throughout the Polkadot ecosystem.
For extra data, go to app.bifrost.io or comply with Bifrost on X.
About vDOT
Bifrost's vDOT (brief for “voucher DOT”) is a rewarded liquid staking token (LST) issued by the Bifrost staking liquidity protocol. vDOT represents DOT staked on the Polkadot Relay Chain and earns staking rewards which might be mirrored as a rise in worth slightly than quantity.
As Polkadot's largest DOT LST, vDOT boasts a complete lock worth of over $50 million, permitting customers to maximise capital effectivity whereas benefiting from staking rewards.
About Bifrost
Bifrost is a liquid staking app chain tailor-made for all blockchains, leveraging decentralized cross-chain interoperability to permit customers to stake with flexibility, liquidity, and excessive safety throughout a number of chains. Means that you can earn buying and selling rewards and DeFi income.
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