About the Project
Bifrost is a web3 derivatives protocol that provides decentralized cross-chain liquidity for staked assets. By leveraging on the cross-consensus message (XCM), it can provide cross-chain liquid staking services for multiple chains. Bifrost’s mission is to provide standardized cross-chain interest-bearing derivatives for Polkadot relay chains, parachains, and heterogeneous chains bridged with Polkadot.
About the Integration
Much like Moonbeam, Bifrost exists as a parachain on both Kusama and Polkadot as Bifrost Kusama and Bifrost Polkadot. Both parachains are DeFi protocols that provide staking derivatives and liquidity to bonding assets. Moonbeam and Bifrost have connected via an HRMP channel, enabling Bifrost’s native token BNC to be used on Moonbeam as xcBNC and Moonbeam’s native token GLMR can now be used on Bifrost.