Polkadot Awards Bifrost a 500,000 DOT Loan to Enhance Liquid Staking Adoption

FinanceFeeds Editorial Team

Bifrost, a leader in liquid staking solutions, has secured a 500,000 DOT loan from Polkadot’s treasury to expand the reach and utility of its vDOT product within the ecosystem.

Following a January Treasury proposal by Bifrost, this development aims to enhance the adoption and functionality of vDOT, a liquid staked variant of DOT, across various DeFi applications within Polkadot’s network, including both Substrate and EVM parachains. Bifrost has pledged to repay the loan in full, plus any staking rewards earned, echoing its successful track record with similar liquidity loans from Kusama’s Treasury.

The loan is set to propel the growth of vDOT, contributing to Bifrost’s aim of broadening the applications and use cases of liquid staked assets across DeFi dApps within the Polkadot ecosystem. With overwhelming community support, as evidenced by a 98.9% approval rate in the recent referenda, Bifrost is poised to enhance its position as a pivotal player in Polkadot’s DeFi landscape.

Holding over 6.5 million DOT tokens staked, Bifrost stands as the go-to liquid staking protocol within the Polkadot ecosystem, extending its influence across numerous parachains and beyond Polkadot by supporting ETH and Filecoin staking solutions. This milestone underscores the effectiveness of Polkadot’s decentralized governance through OpenGov, showcasing the network’s commitment to fostering DeFi innovations and community-driven treasury allocations.

As a dedicated liquid staking middleware built on Substrate and powered by Polkadot, Bifrost is pivotal in offering cross-chain liquid staking solutions, marking a significant step towards an omni-chain ecosystem. This collaboration not only strengthens Bifrost’s liquid staking offerings but also highlights Polkadot’s evolving governance model and its support for foundational DeFi projects that cater to a wide range of financial use cases.


Read this next


Velocity Labs and Ramp Network facilitate fiat to crypto onramp on Polkadot via Asset Hub support

Velocity Labs is proud to announce a fiat to crypto onramp using Ramp Network through the integration of Asset Hub. Through it, Ramp will be able to service any parachain in the Polkadot ecosystem.

Executive Moves

INFINOX hires Mayne Ayliffe as Global Head of HR

“I look forward to working with our teams around the world to develop a strategic HR agenda that supports high performance and is centred on human motivation.”


Sterling to provide risk and margin support for fixed income

“Firms must have the tools to effectively manage their risk across all asset classes. As yields rise, we see more exposure from clients in the fixed income space. We understand their need to measure and mitigate risk in a highly regulated environment.”

Retail FX

FXOpen launches HK share CFDs: Tencent, Alibaba, Xiaomi, Baidu

Hong Kong share CFDs will be commission-free for a limited period of time.

Retail FX

IronFX Celebrates an Award-Winning Start to 2024 with a Series of Industry Recognitions

IronFX, a global leader in online trading, has embarked on 2024 with a spectacular display of accolades that highlight its commitment to excellence and innovation in the competitive financial services sector.

Industry News

FIA urges CFTC to regulate use cases rather than AI itself

“We urge the CFTC to refrain from crafting new regulations that generally regulate AI because this approach presents certain well-known pitfalls. By approaching the issue from the perspective of AI as a technology, rather than the use case for the technology, corresponding regulations would likely necessitate a definition of AI. We anticipate that any attempt to properly define AI would be very challenging and require considerable resources.”

Education, Inside View

The Power of Public Relations in Finance: Shaping Perceptions & Building Reputation

It’s safe to say that the finance industry has faced its share of reputation crises over the years, from the 2008 financial collapse to the many scandals around irresponsible lending, political corruption, and even Ponzi schemes. 

Digital Assets

Crossover’s crypto ECN executed over $3 billion in Q1 2024

“Our growth is also driving continued increases in the percentages of trades that are ‘Order Crossing Order’ (OXO). Currently, roughly 10% of all trades executed on CROSSx are OXO, another differentiator in our platform’s capacity. This capacity and our unique execution model provide value to both the market maker and taker, as evidenced by our commercial model.”


BlockDAG’s Explosive Presale Hits $20.3M In April Swaying Investors From XRP’s Price Trends Upward, & Polygon’s NFT Market

Learn about BlockDAG’s impressive $20.3M presale results, XRP’s price increase prospects, and the booming NFT market on Polygon among the top 10 cryptocurrencies.