Bifrost Joined Astar dApp Staking: Towards Embedding Multi-Chain ASTR Staking

Bifrost has officially joined the Astar dApp Staking program, marking a significant advancement in the development of multi-chain ASTR staking. This proposal is a strategic step towards embedding multi-chain ASTR staking, allowing anyone to stake ASTR across Base, Arbitrum, ETH mainnet, Soneium and etc.

About Bifrost

Bifrost is a dedicated liquid staking app chain developed using the Polkadot SDK, designed to serve the omni-chain ecosystem. It is currently one of the largest Polkadot rollups by Total Value Locked (TVL), with over $100 million locked assets. Bifrost holds the largest TVL for liquid staked DOT (vDOT), exceeding 19 million DOT valued at $75 million.

In addition to DOT, Bifrost offers liquid staking solutions for several prominent networks such as:

• Astar (vASTR)
• Ethereum (vETH)
• Manta (vMANTA)
• Moonbeam (vGLMR)
• Kusama (vGLMR)

The project launched the first and only ASTR liquid staking token (LST) with vGLMR in November 2022. As of now, vASTR commands a TVL of over 84 million ASTR (approximately $2 million) and is held by more than 14,440 addresses. This token is supported on both Substrate and EVM environments through the omni.ls platform powered by Bifrost’s SLPx technology.

Rapid Growth and Ecosystem Expansion

Monitor stats via Bifrost，within six months, vASTR has experienced remarkable growth:

• Over 300% increase in TVL on staking
• Holder addresses surged from 968 to 13,078, an increase exceeding 1300%
• Expansion of ASTR staking support to additional networks including Bifrost, Moonbeam, Astar, and Soneium

Built up DeFi singularity with massive use cases

• Get listed in CoinGecko and CMC
• Get listed and being incentivized in DEXs like Hydration

• Get listed in Bifrost oracle partners
  • Bifrost XCM oracle
  • DIA
  • Redstone

Future Developments: Enabling Multi-Chain Staking

Bifrost plans to utilize SLPx technology to enable minting of vASTR tokens across multiple chains such as Base, Arbitrum, Binance Smart Chain (BSC), and Ethereum mainnet. This function is currently being onboarded on the Omni LS platform.

To support this multi-chain expansion, dApp staking rewards will be used to incentivize vASTR holders and cover bridging costs, ensuring a sustainable and rewarding staking experience.

Conclusion

Bifrost’s integration into the Astar dApp Staking program represents a strategic step towards embedding multi-chain ASTR staking capabilities. This development is expected to foster growth for both Astar and the broader Soneium DeFi ecosystem, offering users greater flexibility and opportunities in liquid staking.

Users interested in exploring vASTR can mint the token directly on EVM chains via the Omni LST platform at omni.ls website, selecting their preferred network to begin.

This partnership highlights the continuous innovation within the Astar ecosystem and the growing importance of multi-chain liquid staking solutions.