Last June was a significant milestone in Bifrost's development journey from technical aspects, products to community campaigns, showing an ecosystem that is accelerating, clearly focused on enhancing interoperability and improving the efficiency of liquid staking derivatives (LSDs), especially vDOT.

⚙️ Technology: Towards true cross-chain interoperability

🎯 Runtime Upgrade:

Runtime 19001 has been upgraded, bringing the ability to analyze messages from Hyperbridge, paving the way for minting SLPx from heterogeneous chains to Bifrost.

Runtime 20000 (in deployment) continues important upgrades:

Support asset transfer via AssetHub

Adding a voting delegation mechanism for the vTokenVoting module → a basis for a more decentralized DAO

Separating the vToken interest model from the main logic → improving scalability

SLPx module supports assets from AssetHub

📡 Monitoring & Smart Contract:

Monitor 1.0.1: Now you can track reserves on AssetHub and the redeem status of vToken.

SLPx 1.0.2: Removed outdated functions and integrated additional support for Hyperbridge.

Omni LS 1.0.9 (in development): Allows vToken to interact with Layer2 connected via Hyperbridge — a major step in the multi-layer connection of the ecosystem.

📊 Product: vDOT rises to the top, preparing to expand liquidity

🚀 Total ecosystem TVL reached $61.74M, including:

vDOT exploded with over 15 million vDOT minted, TVL reached $43M, up 36.3% in just one month.

💧 Liquidity vDOT:

Bifrost proposed and implemented phase 1 in a loan of 1 million DOT from the Polkadot Treasury to increase liquidity for the vDOT/DOT pair and expand the application of vDOT in the ecosystem.

In phase 2, minting vDOT and providing liquidity has been completed.

💸 Hydration doubles the Supply Cap of vDOT in the Money Market → New limit: $1.33M → strong signal from the market.

🛠 Workshop Builders #2: "Building a Yield Delegation Vault"

A detailed guide on how to build a Vault staking rewards using vToken opens up the possibility of creating automated LSD products, attracting yields.

👉 Refer to the new Bounty repository here to participate in building the ecosystem: notion.so/Open-Bounties-…

📣 Marketing & Community: Engagement – Positioning – Increasing influence

🔁 Ending Phase 2 of the unbond DOT grant program: Snapshot of vDOT balances completed on June 1

DOT distributed on time → Bifrost's long-term commitment to users

🌍 International exchange:

On June 16, Thomas (Community Lead) represented Bifrost at a discussion session at Berlin Blockchain Week on the topic of “Decentralised Funding”

Discussion with representatives from Web3 Foundation and Co-founder Novasama

Focusing on how small projects can access decentralized funding

🤝 The Reward Share program continues to develop:

15 active partners

The effective total TVL reached $6.67M

Simply: each vToken minted through partner channels → receive a commission

🚀 Launch of the Social Ambassador Program:

Encouraging the community to create content, spreading on social media

BNC rewards based on contributions

Active participants can receive quarterly rewards

🔍 Summary: Bifrost is not only scaling but also asserting its long-term vision

June is a testament to Bifrost's continuous improvement in technical aspects, developing core products (vDOT), and building a strong community.

The deeper connection with Polkadot through AssetHub, supporting L2 via Hyperbridge, and expanding the distribution channel of vToken shows that they are gradually becoming the center of LSD in the Substrate ecosystem.

July promises many new advances, especially in cross-chain and LSD+ products. Stay tuned!

#Bifrost #Polkadot #DEFI