This proposal aims to add Bifrost vGLMR (liquid staking GLMR), vASTR (liquid staking ASTR) on Hydration, prepare for multiple use cases:
Bifrost (https://bifrost.finance) Bifrost is a Liquid Staking app-chain tailored for all blockchains. By leveraging on Polkadots cross-consensus message format (XCM) it provides standardised cross-chain liquid staking services for various networks notably Polkadot (vDOT), Kusama (vKSM) and the first LST solutions on Astar and Astar zk-EVM (vASTR) as well as other multiple chains (currently 6+ chains).
Bifrost is currently one of the largest liquid staking protocols on Polkadot with a current total TVL of $100M. vDOT, Bifrost liquid LST for staked DOT was launched in late May of 2022, and there is already around $66M TVL of DOT staked with Bifrost. vASTR, the top3 parachain-liquid staking derivative in Polkadot ecosystem launched in late Aug of 2023, which has accumulated over $2.1m $ASTR staked with Bifrost.
Bifrost App: https://bifrost.app/
Omni Liquid Staking App: https://omni.ls/
Check Bifrost LST statistics at here.
Benefits for Hydration ecosystem
Staking Liquidity Pallet (SLP) is the core module to execute all transactions for underlying staking via the XCM and mint liquid staking Token (vToken) to users. Thus, a SLP vToken security instruction might help to understand the vToken reserve risk and protocol security. Please check all the details at: Staking Liquidity Protocol (SLP) vtoken security.pdf - Google Drive
Token information:
Multilocation: { parents:1, interior: X2(Parachain(2030), GeneralKey(0x0901)}
Decimals: 18
Token information:
Multilocation: { parents:1, interior: X2(Parachain(2030), GeneralKey(0x0903)}
Decimals: 18
Since Hydration have not finished the HRMP openning with Manta parachain yet, maybe vMANTA can be considered in the next proposal, which has already accumulated $5.5m TVL on Bifrost.
Bifrost is a liquid staking app-chain that provides cross-chain liquid staking services for various networks. It is one of the largest liquid staking protocols on Polkadot with a current total TVL of $100M. Bifrost is proposing to add Bifrost vGLMR and vASTR on Hydration to increase Omnipool TVL and trading volume of GLMR and ASTR on Omnipool, among other benefits. The proposal also includes a risk declaration for Bifrost LSTs. The token information for vGLMR and vASTR is provided, and the next step is to consider vMANTA in the next proposal. Links and references to Bifrost's website, documentation, Github page, and communities are also provided.