What is Bifrost (BNC)? Bridge to Liquid Staking

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Bittime -The world of blockchain is evolving rapidly, and one innovative solution that is attracting attention is Bifrost (BNC). Bifrost is here to overcome the problem of traditional illiquid staking, by presenting "liquid staking" which opens up new opportunities for users.

What is Bifrost (BNC)?

Bifrost is a “liquid staking” platform that allows users to earn staking rewards without having to lock up their assets. Users can stake their PoS (Proof-of-Stake) assets on Bifrost and receive vTokens (staking derivatives) that represent ownership of the staked assets. These vTokens can be traded, loaned, and used in a variety of DeFi applications , opening up new opportunities to maximize the asset's potential.

Bifrost (BNC) Key Products & Features

• Liquid Staking : Stake PoS assets without locking assets, allowing users to earn staking rewards and keep using their assets in DeFi.
• vToken : A token that represents ownership of an asset that is staked, can be traded, lent, and used in various DeFi applications.
• Bifrost Kusama Parachain : A “liquid staking” platform connected to Kusama, allowing users to stake DOT and KSM.
• Bifrost Polkadot Parachain : A “liquid staking” platform connected to Polkadot, allowing users to stake DOT and various other tokens.

Also read: What is Trace Network Labs (TRACE)?

What is BNC?

BNC is Bifrost's native utility token used for various functions within the platform, such as:

• Governance : BNC holders can participate in platform governance and proposal voting.
• Staking : BNC can be staked to get staking rewards and additional BNC.
• Fees : BNC is used to pay transaction and platform fees.

BNC Token Tokenomics

• Max Supply: 80,000,000 BNC
• Total Supply : 80,000,000 BNC
• Circulating Supply : 30,518,547 BNC
• Market Cap : IDR 336,524,097,168 (as of February 2024)

Also read:

Bifrost Fundamental Analysis (BNC)

• Team : The Bifrost team is experienced in the blockchain and DeFi industry.
• Community : An active and growing Bifrost community.
• Roadmap : A clear roadmap with ambitious development targets.
• Partnerships : Partnerships with leading blockchain and DeFi platforms.

Comparison of Bifrost (BNC) & Competitors

Bifrost Founder & Team (BNC)

• CEO & Co-Founder: Lurpis Wang
• Team : Consists of blockchain developers, DeFi engineers, and experienced financial experts.

Expert Opinion About Bifrost (BNC)

• Gavin Wood : "Bifrost is an innovative solution to traditional staking problems."
• Bill Barhydt : "I believe Bifrost can be a leader in the liquid staking industry."

Conclusion

Bifrost (BNC) offers an innovative “liquid staking” solution and opens up new opportunities for users to maximize the potential of their assets. An experienced team, a clear roadmap and strategic partnerships demonstrate the great potential of this project.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via  Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on  Bittime ,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into  your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  Complete Guide How to Buy Crypto on Bittime .

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.