- Interlay announces its collaboration with Bifrost Finance, paving the way for trustless iBTC bridge expansion through Liquid staking.
- Bifrost reveals the minting of 1.5 million vDOT on its network, highlighting the advancements in cross-chain operations with several platforms, including Moonbeam Network.
The decentralized world witnesses another breakthrough with Polkadot’s increased integration into the multifaceted chain ecosystem. Here’s a deeper look into the recent collaborations and their implications. Polkadot @Polkadot serves as the central source for these updates.
— Polkadot (@Polkadot) October 9, 2023
The recent announcement from @InterlayHQ unveiled its strategic alliance with @BifrostFinance. With the launch of vDOT vaults on Interlay, the prospects for magnifying the trustless iBTC bridge seem more vivid. This not only amplifies the scope of the bridge but also introduces Liquid staking, ensuring vaults can leverage vDOT as collateral for a fortified Interlay bridge.
Milestones with Bifrost
Bifrost’s revelation about the minting of a substantial 1.5 million vDOT on its platform underscores its prowess in the decentralized ecosystem. Bifrost further showcases the efficiency of their network with ~23% of Composed APY and an unstaking period that doesn’t exceed 28 days. Their advancements are accentuated by the integration with various networks, including the Moonbeam Network, @hydra_dx, @InterlayHQ, and @AstarNetwork.
Innovations Beyond Borders
Another commendable stride in the decentralized sphere is made by @ComposableFin. Their trust-minimized bridge connecting Polkadot from Ethereum has made its debut on its testnet, primarily linking @Picasso_Network to Ethereum Sepolia. This marks a pivotal move in interchain operations, fostering greater versatility and potential collaborations.