Bifrost is a Polkadot Ecosystem DeFi protocol that aims to provide staking liquidity and currently offers a derivative vToken for Staking and Polkadot Lease Offering (PLO). It is also a member of the Substrate Builders Program and Web3 Bootcamp. vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, and CEX.
vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, and CEX. vToken can be used to realize the transfer channel of governance right such as Staking and PLO to hedge the risk of Staking assets. In extended scenarios such as when vToken is used as collateral for lending, the staking proceeds can offset part of the interest and realize low-interest lending.
Bifrost is one of the leading projects in the Illusionist Group’s investment portfolio. The Bifrost investment will help the project to accelerate research and development, expand its resource and develop its business, and Illusionist will serve as a bridge between the largest community of the Polkadot ecosystem and Bifrost platform in the near future.
About the investment in Bifrost, Sang Tran – Investor Partner of Illusionist Group said: “We are fortunate to be one of the Bifrost investors – one of the active projects in the Polkadot ecosystem. Through investment, we are committed to supporting all resources to promote Defi development on Polkadot with them.’’
On January 28, 2021, Bifrost angel financing round ended with the participation of: CMS Holding, Altonomy, Sevenx, Zonff Partners, PAKA, Timestop Capital, InCuba Alpha, Oasis Capital, Kernel Capital and Loopring co-founders Jay Zhou,Steve Guo and other investors. There are two institutions which join the seed round but still invest more at this second round: SNZ Holding and DFG. This angel financing round has reached $1.55 millions.
Bifrost received a new round of angel financing, several leading institutions participated in the investment.
— Bifrost (@bifrost_finance) January 30, 2021
Bifrost is a Polkadot Ecosystem DeFi infrastructure protocol that aims to become an infrastructure for providing Staking liquidity, and currently offers a derivative vToken for Staking and Polkadot Lease Offering (PLO). It is also a member of the Substrate Builders Program and Web3 Bootcamp. vToken can optimise transactions in multiple scenarios such as DeFi, DApp, DEX and CEX.
About Illusionist Group
Illusionist Group is the VC behind PolkaWarrior – the biggest community of $DOT hodlers around the world. It is a global blockchain and digital asset investment firm, focuses on investing in technical teams that build and support Polkadot/Kusama ecosystem.
Illusionist Group has extensive history in global fund distribution, combined with our strong relationships and partnerships with investors, venture capitals, leading academic institution and fund platforms can create values to support technical teams having robust and innovative projects, which helps to grow a larger and stronger blockchain ecosystem.