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Bifrost SALP Supports the Efinity Crowdloan

Bifrost SALP Supports the Efinity Crowdloan

Bifrost announced its support for the Efinity Crowdloan. Efinity is a next-generation blockchain for NFTs built by Enjin on Polkadot. Bifrost is committed to providing liquidity to locked assets between multiple chains and establishing a liquidity bridge between heterogeneous chains.

During this Polkadot crowdloan event, Bifrost will cooperate with Efinity to help crowdloan participants access liquid derivatives of staked DOT, creating innovative solutions for users participating in the Polkadot crowdloan and competitive opportunities under the multi-chain development pattern.

Bifrost’s advantage is to mint fully decentralized liquid derivatives based on the Kusama Parachain, and provide rich derivatives use cases for contributors participating in the Efinity crowdloan, including derivative farming, liquidity mining, swaps and cross-chain token swaps. Support for the Efinity crowdloan event will help Bifrost unlock a new opportunity with the Efinity community to introduce the Slot Auction Liquidity Protocol (SALP), and encourage more users to participate in the Efinity crowdloan.

Efinity is built to serve as the infrastructure for an open Metaverse. As a cross-chain highway for NFTs, Efinity will support tokens from any blockchain, allowing them to be ported to the parachain and benefit from next-generation features, including crafting, fuel tanks, and discrete (invisible) accounts for easy user onboarding. Efinity’s open marketplace will allow users to bid on NFTs on any blockchain, regardless of whether they are listed for sale.

Bifrost uses a combination of Polkadot multi-signature + Kusama Parachain for the SALP, to provide a more complete experience for the Efinity crowdloan. This innovative crowdloan liquidity solution will give users the opportunity to increase capital utilization during the 96-week crowdloan lock-up period and make choices about their own risk appetite. Efinity w...

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