Bifrost Loyalty Programme To Draw In KSMs Released From Kusama Parachains

In the latest community call, the web3 derived protocol Bifrost hinted at the launch of the third evolution of rainbow boost; Its long-term incentive program.

To date, over 1,400 wallets have participated in the Rainbow Boost campaign. Airdrop rewards worth approximately $900,000 and 77,000 Liquid KSM Derivatives (vKSM) worth $5 million have been issued.

Rainbow Boost 3.0 rewards users who participate in the second batch of Kusama Cloud Loans. Users unlock reward access by claiming 2000 raindrops and are entitled to airdrop assets. quilt, KMA, BSX, air, Hong Kong When Kint; As well as access to the Bifrost whitelist, Back to the Asgard NFT Collection.

moreover, On-chain analysis At the show, the second batch of Kusama parachains will release 1,251,097 KSM (approximately $70 million) unlocked from 65,579 addresses. Users who create vKSM will get higher rewards for her APY, vKSM Farming and Rainbow Boost.

Rainbow Boost helps weed out the most active and value-producing addresses within Bifrost. Raindrops are accumulated within the wallet, but the Dotsama project will scale these trusted We can find wallets, reward them, and give them on-chain governance. lupis oneco-founder of Bifrost.

We are excited to see Rainbow Boost 3.0. We are launching to give users an opportunity to show their on-chain value, accumulate more raindrops and be rewarded with token airdrops.

The power of long-term incentive programs

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Rainbow Boost rewards participants for their long-term support and on-chain activity.

Unlike traditional crypto incentive schemes, Bifrost does not provide native tokens, but rather rewards participants with non-tradable raindrop assets whose amount accumulated within the wallet determines the type and value of subsequent rewards. Reward.

Bifrost’s solution offers a variety of advantages over traditional incentive and reward schemes.

• Rainbowboost prevents damping: recent crisis optimism network OP token prices plummeted by more than 40% after many wallets dumped their tokens shortly after receiving an airdrop, showing just how dangerous it can be to directly reward user actions with native tokens. Since raindrops are directly limited by the Rainbow Boost program, wallet owners looking to get rich quick will be very disappointed as they will need to accumulate raindrops for future rewards. .
• Reward your most loyal users: The ability to accumulate raindrops throughout the campaign facilitates long-term activity and interaction with the Bifrost protocol. More raindrops mean more rewards. In this way, Bifrost has ensured that only true followers of the project can reward their loyalty.
• governance: By rewarding long-term participation and positive on-chain behavior, the most active and trustworthy addresses emerge. Rainbow Boost allows you to quantify on-chain behavior and see which wallet addresses are generating the most value on-chain. This dynamic is ultimately reflected in our right to be part of Bifrost governance, enabling addresses that deliver loyalty and long-term value as network owners.

The Power of Community Connections

The third phase of the Rainbow Boost campaign will explore additional incentive mechanisms.

In addition to the 2000 raindrops claimed from the Kusama cloud loan, participants can invite other wallet addresses to join and claim an additional 200 raindrops for both the inviter and the invitee.

The invitation mechanism not only encourages more wallet addresses to create vKSMs, but also helps build a passionate community of recommended addresses to join the Bifrost network, providing a powerful tool for future user-centric governance models. Build your foundation.

Building a cross-chain future

By rewarding participants in all six Kusama cloud loans and encouraging them to create vKSMs, Bifrost is building strong pillars and use cases for vKSM to become the standard across the Kusama ecosystem.

The Rainbow Boost campaign is just one of many initiatives Bifrost is undertaking to drive vKSM adoption and develop the utility of vKSM.all This gives Bifrost a strong foundation to become a hub for cross-chain liquid staking on most public PoS protocols, not just Kusama, Polkadot and their parachains.