Singapore Singapore January 10, 2025 Chainwire
Bifrost has announced that vDOT, Polkadot’s largest liquid staking token (LST), has been listed as a collateral asset on the Hydration Money Market. Within 15 hours of opening deposits and borrowings, vDOT reached the supply limit of 220,000 and surpassed $2.2 million in Total Value Locked (TVL) driven by DOT leveraging demand
Integrating vDOT with financial markets creates new strategies. For Polkadot DeFi participants, by staking Polkadot (DOT), participants earn vDOT which can be used as collateral to borrow additional DOT. This process makes it possible to iterate the cycle to explore strategies that Focus on maximizing returns With this introduction, Bifrost is unlocking the opportunities of what is possible in Polkadot DeFi, creating interoperability and a flywheel for the ecosystem. Users will get the opportunity to earn double rewards. Borrow from staked tokens without losing liquidity. and take advantage of their position to achieve higher returns. This collaboration also increases the liquidity of the DOT market, driving user adoption. and exemplifies the DeFi composability of the Polkadot ecosystem, making vDOT a key core asset within the Polkadot ecosystem.
For more information users can visit app.bifrost.io or follow Bifrost on X
About WeDot
Bifröst’s vDOTShort for “voucher DOT”, it is a liquid staking token (LST) issued by the Bifrost Stake Liquidity Protocol. vDOT represents DOT staked on the Polkadot Relay Chain and earns staking rewards. This reflects the increase in value rather than quantity.
As Polkadot’s largest DOT LST, vDOT has over $50 million in total locked-in value, enabling users to maximize capital efficiency. At the same time benefit from the returns from staking.
About Bifrost
Bifrost It is a liquid staking appchain customized for all blockchains. using decentralized cross-chain collaboration To provide users with staking rewards and DeFi rewards with high flexibility, liquidity, and security across multiple networks.
ContactWonderwonder@bifrost.io
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily and is not intended to serve as legal, tax, investment, or financial advice.
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