Bifrost RainDOT: mint your own vDOT and earn Raindrop points
On September 16th, the third vToken based on the SLP protocol went live on the Bifrost app. From that time, users can now mint derivative token vDOT from the original DOT token. This liquid staking solution ensures users receive seamless liquidity access combined with the staking rewards of the DOT token.
Bifrost launched the vDOT campaign called RainDOT — Rainbow Boost lands on Polkadot and ends up on September 23rd, 2022.
RainDOT is a point system that benefits user behavior on Bifrost. More interaction with Bifrost on Polkadot, more RainDOTs. The accumulation of Raindrops will entitle you to BNC drops, the NFT whitelist and other community perks and privileges. The incentive behaviors and their Raindrops that qualify for this campaign are as follows.
Incentives to Gain Raindrops
- earn 200 Raindrops for every 1 vDOT minted
- addresses who have participated in DOT decentralized staking can get 500 Raindrops for free unconditionally
- after inviting DOT Staking friends to successfully claim 500 Raindrops, the inviter and the invitee will each receive 200 Raindrops
vDOT Minting Multiplier
Multiply your Raindrops by staking DOT from September 13th, 2022. The more you stake, the higher the multiplication level:
- 10 DOT = 5% multiplier
- 100 DOT = 10% multiplier
- 1000 DOT = 15% multiplier
- 5000 DOT = 20% multiplier
- 10000 DOT = 25% multiplier
BNC Staking Multiplier
Similarly, you can multiply your Raindrops by staking BNC:
- staking over 100 BNC= 5% multiplier
- staking over 1000 BNC= 10% multiplier
- staking over 10000 BNC= 20% multiplier
- staking over 100000 BNC= 40% multiplier
vDOT Farming
While farming with a single-token lossless farming module, vDOT farming has no impermanent loss risk at all. Users participating in vDOT Farming receive a much higher APR than usual during the RainDOT event. vDOT Farming will last for seven days with a total incentive of up to 15000 BNC.
NFT Whitelist
RainDOT will release 200 Back to Asgard NFT whitelists based on Raindrop rankings. Users who hold the Back to Asgard NFT whitelist can enjoy discounts on NFT incubator purchases. The total number of NFT whitelists is 1000.
RainDOT campaign period:
Open: 16 September 2022
Close: 23 September 2022 | 10 AM UTC
Airdrop: 24 September 2022
For participation, go to the RainDOT campaign page
Polkadotters are a community completely funded from staking rewards, so if you like what we do, please nominate our nodes on Bifrost. You can find our collator under the name of Polkadotters. All contributions are very much appreciated :-)
