Singapore, Singapore, 10 January 2025, Pakinomist
Bifrost has announced that vDOT, Polkadot’s largest liquid staking token (LST), has been listed as a security asset on the Hydration Money Market. Within 15 hours of opening deposits and loans, vDOT reached the supply cap of 220,000 and exceeded $2.2 million in Total (EPA:) Value Locked (TVL) pushed by DOT exploiting demand.
The integration of vDOT into the Money Market allows for new strategies for Polkadot’s DeFi participants: By staking (DOT), participants receive vDOT, which can be used as collateral to borrow additional DOT. This process provides an opportunity to repeat the cycle to explore strategies aimed at optimizing returns. With this introduction, Bifrost unlocks the possibilities of what is possible in Polkadot DeFi, creating synergies and flywheels for the ecosystem. Users are offered the opportunity to earn double returns, borrow against their deposited tokens without sacrificing liquidity and leverage their positions for higher returns. This synergy also improves DOT market liquidity, drives user adoption, and exemplifies the DeFi composition of the Polkadot ecosystem, making vDOT a cornerstone asset of the Polkadot ecosystem.
For more information, users can visit app.bifrost.io or follow Bifrost on X.
About vDOT
Bifrost’s vDOT, short for “voucher DOT”, is a reward-bearing liquid staking token (LST) issued by the Bifrost Staking Liquidity Protocol. vDOT represents staked DOT on the Polkadot Relay Chain and earns stake rewards, reflected as an increase in its value rather than its quantity.
As Polkadot’s largest DOT LST, vDOT boasts a total locked value of over $50 million, enabling users to maximize their capital efficiency while benefiting from stake rewards.
About Bifrost
Bifrost is a liquid-stake app chain tailored for all blockchains that uses decentralized cross-chain interoperability to allow users to earn stake rewards and DeFi dividends with flexibility, liquidity and high security across multiple chains.
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