Singapore, Singapore, January 10, 2025, Chainwire
lucky has introduced that VDOT, Polkadot’s largest liquid staking token (LST), has been listed as a collateral asset on the Hydration Cash Market. Inside 15 hours of opening deposits and lending, VDOT reached the availability restrict of $220K and crossed $2.2M in Whole Worth Locked (TVL), profiting from the demand by DOT.
The mixing of VDOT into the cash market permits new methods for Polkadot’s DeFi contributors: by staking Polkadot (DOT), contributors obtain VDOT, which can be utilized as collateral to borrow extra DOT. Is. This course of permits the potential for repeating the cycle to discover methods geared toward optimizing returns.With this introduction, Bifröst is opening up the alternatives of what’s doable in Polkadot DeFi, creating synergy and a flywheel for the ecosystem. Customers are supplied the chance to earn double yields, borrow in opposition to their staked tokens with out sacrificing liquidity, and leverage their positions for larger yields. This synergy additionally will increase DOT market liquidity, drives person adoption, and exemplifies the DeFi composability of the Polkadot ecosystem, making vDOT a cornerstone asset throughout the Polkadot ecosystem.
For extra data customers can go to app.bifrost.io or comply with lucky On X.
About VDOT
BiFrost’s VDOTVoucher DOT, brief for “voucher DOT,” is a reward-bearing liquid staking token (LST) issued by the Bifröst staking liquidity protocol. VDOT represents DOT staked on the Polkadot relay chain and earns staking rewards, that are mirrored as a rise in its worth reasonably than its quantity.
As Polkadot’s largest DOT LST, vDOT has a complete locked worth of over $50 million, enabling customers to maximise their capital effectivity whereas additionally benefiting from rewards.
About BiFrost
lucky Liquid is a staking appchain constructed for all blockchains, using decentralized cross-chain interoperability to empower customers to earn staking rewards and DeFi yields with flexibility, liquidity, and excessive safety throughout a number of chains.
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