Bitfrost (BNC) Token What is it, how to buy and price?

What is Bitfrost (BNC) | What is the Bitfrost token? What is the BNC token? Bitfrost ICO (BNC)

What is Bifrost: Bifrost is the DeFi project for PoS tokens, which include both participation and liquidity. Bifrost is a candidate for Polkadot Parachain. It was awarded by the Web3 Foundation and is also a member of the Substrate Builder Program.

What it can be used for: Bifrost users can exchange stacked assets (fe DOT or KSM) through the transfer bridge to vToken (i.e. vDOT, vKSM) for reward and liquidity. After the official launch of the Bifrost mainnet, the first phase will open KSM, DOT staking and vKSM and vDOT exchange. exchange of ETH, EOS, IOST and vToken (vETH, vEOS, vIOST) will also open in the future.

With vToken, the user can hedge the risk of locked positions, double rewards from DeFi and Staking and leverage from Staking and other application scenarios.

vToken can be purchased directly on wallets, exchanges (CEX and DEX). Also, users can exchange vTokens by downloading Bifrost Dapp after the official launch from the Bifrost mainnet.

What is Bifrost Coin (BFC) and how does it work?

Bifrost Coin (BNC) is the native cryptocurrency of the Bifrost protocol, a Polkadot-based decentralized finance (DeFi) project that provides participation and liquidity. Bifrost allows users to deposit tokens for gambling and, in return, give vTokens that provide liquidity for gambling. Users who bet tokens receive gambling rewards in exchange for locked tokens. BNC Coin is used to collect gambling rewards and verify transactions.

BFC (Bifrost Token) is the currency of the Bifrost multi-chain ecosystem. Developers pay BFC to use multi-chain middleware to develop and run their DApps, minimizing the cost of gas fees when using multiple blockchain protocols compared to using a single blockchain. More specifically, they will be asked to deposit a certain amount of BFC and the fees will be deducted from that. When the amount wagered falls below a threshold level, they will be asked to buy BFC to reach the threshold again.

Read also MousePad (MPAD) Token What is it, how to buy and price?

first DApp powered by Bifrost is the BiFi multi-chain DeFi platform. Using Bifrost’s multi-chain technology, BiFi can directly connect to multiple blockchains such as Bitcoin, Tron, and Klaytn, thus expanding the DeFi ecosystem that is currently limited to Ethereum.

What problem does it solve:

lower the stake out threshold in a decentralized way,

provide staking liquidity without damaging the governance structure of the original chain.

Native token: BNC.

BNC primarily played an active role in wagering rewards and handling fees, deposits for bidding of voting rights, and governance tools. Total offer: 80,000,000. Can now only be earned with activity rewards (see below).

Evolution stage: Asgard CC2 testnet (with ASG test token) ended on August 21. A new version of testnet is planned to be released on September 21.

What about private sale?

Bifrost 2 private sales continue. To be informed, stay tuned to the official channels.

Incentives and Rewards: Asgard CC2 event ended on August 21, rewards for participants can be found here: https://rewards.bifrost.finance/

Asgard CC3 will be announced.

In addition to this, Bifrost launched the “Long-Term Contribution” program , which includes bug hunting, code and blog contributions, local community creation, and Wiki translations. rewards are up to 500 BNC.

How to buy Bitfrost (BNC) Token With Gate.io ?

first thing we have to do is create an account in Gate.io if we do not have one, so here is the link: Gate.io Registration.

STEP 1 TO BUY Bitfrost (BNC) Token:

first thing will be to register in Gate.io if you are not already, so here is the registration link: Register GATE.IO

Read also Ethereum makes a bullish statement recovering from a slight price drop

Once we are registered and with everything verified, we have to buy USDT to exchange it for BNC Token and since it cannot be purchased with a card at Gate.io, at least in Spain, we will use Binance to buy it and transfer it to Gate.io.

To buy USDT on Binance we will use the same method as buying ETH in the uniswap tutorial , but we simply buy USDT instead of ETH.

STEP 2 TO BUY Bitfrost (BNC) Token:

Once with our USDT we have to transfer them to Gate.io and for this we have to go to our Gate.io Wallet and click on “Deposit” to deposit the USDT.

By clicking on “Deposit” it will take us to the next page, in which we have to select the currency we want to deposit (USDT) and choose the TRON network.

We copy the address and go to the Exchange where we have the USDT, in our case it is Binance and we give it to withdraw, we have to paste the address that we copied before and choose the amount to withdraw.

And that’s it after a while we will have our USDT in Gate.io.

STEP 3 TO BUY Bitfrost (BNC) Token:

Now we have to enter Gate.io and hit the market, and then hit “Professional”

Now we have to search for “BNC” in the search engine and we will select the “BNC / USDT” pair.

Once we give “BNC” we go to the bottom right and put the amount of BNC that we want to exchange for USDT.

We give you to buy and that’s it, we already have it in our Gate.io Wallet.

Official Web

more

Related Posts

© 2024 Cryptocoin Budisma.net