Singapore, Singapore, January 10, 2025, PakGazette
Bifrost has announced that vDOT, Polkadot’s largest liquid staking token (LST), has been listed as a collateral asset on Hydration Money Market. Within 15 hours of opening deposits and loans, vDOT reached the supply limit of 220,000 and exceeded $2.2 million in Total (EPA:) Value Locked (TVL) Driven by DOT Demand Leverage.
The integration of vDOT into Money Market enables new strategies for Polkadot DeFi participants: by staking (DOT), participants receive vDOT, which can be used as collateral to borrow additional DOT. This process allows the possibility of repeating the cycle to explore strategies aimed at optimizing returns. With this introduction, Bifrost is unlocking the opportunities of what is possible in Polkadot DeFi, creating synergies and flywheels for the ecosystem. Users are offered the opportunity to earn dual returns, borrow against their staked tokens without sacrificing liquidity, and leverage their positions for higher returns. This synergy also enhances DOT market liquidity, drives user adoption, and exemplifies the DeFi composability of the Polkadot ecosystem, making vDOT a critical asset within the Polkadot ecosystem.
For more information, users can visit app.bifrost.io or follow Bifrost on X.
About vDOT
Bifrost vDOT, short for “DOT voucher,” is a reward-generating liquid staking token (LST) issued by the Bifrost Staking Liquidity Protocol. vDOT represents DOT staked on the Polkadot relay chain and accumulates staking rewards, which are reflected as an increase in its value rather than its quantity.
As Polkadot’s largest DOT LST, vDOT boasts a total value locked of over $50 million, allowing users to maximize the efficiency of their capital while benefiting from staking rewards.
About Bifrost
Bifrost is a liquid staking application chain designed for all blockchains, using decentralized cross-chain interoperability to enable users to earn staking rewards and DeFi returns with flexibility, liquidity, and high security across multiple chains.
ContactWonder[email protected]
