What is Bitfrost (BNC) | What is Bitfrost token | What is BNC token | Bitfrost (BNC) ICO
What is Bifrost: Bifrost is the DeFi project for PoS tokens, that include staking and liquidity both. Bifrost is a Polkadot Parachain candidate. It was granted by Web3 Foundation and also is a member of the Substrate Builder Program.
source : Dummy Crypto
What can be used for: Bifrost users can exchange stacked assets (f.e. DOT or KSM) through the transfer bridge to vToken (i.e. vDOT, vKSM) to getStaking Reward and Liquidity. After the Bifrost mainnet is officially launched, the first phase will open KSM, DOT staking and vKSM and vDOT exchange. The exchange of ETH, EOS, IOST and vToken (vETH, vEOS, vIOST) will also be opened in the future.
With vToken user can hedge the risk of locked positions, DeFi & Staking double rewards and leverage Staking and other application scenarios.
vToken can be purchased directly from wallets, exchanges (CEX & DEX). In addition, users can swap vTokens by downloading the Bifrost Dapp after the official launch of the Bifrost mainnet
What problem solves:
- lower the Staking threshold in a decentralized manner,
- provide Staking liquidity without damaging of the original chain governance structure.
Native token: BNC.
BNC mainly played an active role in staking rewards and handling fees, deposits for voting rights bidding, and governance tools. Total supply: 80,000,000. Now can be earned only with activity rewards (see below).
Evolution stage: Asgard CC2 testnet (with test token ASG) ended on August 21th. New testnet version planned to be launched at September 21th.
What about privat sale?
Bifrost private sales 2 is onging. To be informed stay tuned to official channels.
Incentives and rewards: Asgard CC2 event ended on 21th of August, rewards for participants can be found here: https://rewards.bifrost.finance/
Asgard CC3 will be announced.
Beside this Bifrost launched “Long Term Contribution” program, that includes bug hunting, code and blog contributings, local community building and Wiki translations. Rewards are up to 500 BNC.
How and Where to Buy Bitfrost (BNC)?
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
After the deposit is confirmed you may then purchase BNC from the Website: https://bifrost.finance.
Exchange listing is planned after Bifrost mainnet launch. Mainnet will be launched in Q4 2020.
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once BNC gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com
Find more information BNC
Looking for more information…
☞ Website
☞ Whitepaper
☞ Source Code
☞ Social Channel
☞ Message Board
☞ Coinmarketcap
🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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