Singapore, Singapore, January 10, 2025, PK Press Club
Bifrost announced that vDOT, Polkadot’s largest liquid staking token (LST), has been listed as a collateral asset on the Hydration Money Market. Within 15 hours of opening deposits and borrowing, vDOT reached the supply cap of 220,000 and exceeded $2.2 million in Total (EPA:) Value Locked (TVL) pushed by DOT leveraging demand.
Integrating vDOT into the money market enables new strategies for Polkadot’s DeFi participants: by staking (DOT), participants receive vDOT, which can be used as collateral to borrow additional DOT. This process allows the cycle to be repeated to explore strategies to maximize returns. With this introduction, Bifrost unlocks the opportunities of what is possible in Polkadot DeFi, creating synergies and flywheels for the ecosystem. Users have the opportunity to earn double returns, borrow against their staked tokens without sacrificing liquidity, and leverage their positions to achieve higher returns. This synergy also improves the liquidity of the DOT market, drives user adoption, and illustrates the DeFi composability of the Polkadot ecosystem, making vDOT a key asset within the Polkadot ecosystem.
For more information, users can visit app.bifrost.io or follow Bifrost on X.
About vDOT
Bifrost vDOT, short for “voucher DOT,” is a fee-based liquid staking token (LST) issued by the Bifrost Staking Liquidity Protocol. vDOT represents DOT staked on the Polkadot relay chain and accumulates staking rewards, reflected by an increase in its value rather than its quantity.
As the largest DOT LST on Polkadot, vDOT boasts a total value locked of over $50 million, allowing users to maximize their capital efficiency while enjoying staking rewards.
About Bifrost
Bifrost is a liquid staking application suitable for all blockchains, using decentralized cross-chain interoperability to allow users to earn staking rewards and DeFi yields with flexibility, liquidity and high security across multiple chains.
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