2023-02-23 14:21:09
Liquid Staking is a growing alternative to locking up user’s tokens & contributing to the security of PoS blockchains.
Users access liquidity by staking their token on a protocol & receiving a
Liquid Staking Token (LST), unlocking liquidity for staked cryptocurrencies.
Along with the basic liquid staking benefits, vMOVR & vGLMR holders could also enjoy the following benefits:
Higher APR vs. Average Network APR
Automatic staking reward distribution
Participation in LP Farming with vMOVR and vGLMR
Flexible redemption period
What's next ?
Bifrost's future includes Moonriver and Moonbeam Networks native use-cases and features.
- The team is developing an
SLP XCM Action pallet for vToken communication between Bifrost and other Parachains, including EVM-compatible and non-compatible parachains.
- We are also deploying an
SLP SDK for calling XCM Action pallet mint, redeem & swap.
This will facilitate x-chain liquidations for vTokens and their use case in DeFi native protocols.
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