Bifrost Native Coin (BNC)

Bifrost Native Coin (BNC) is the main net Token of Bifrost, the initial total supply is 80000000. Currently, in the Bifrost test network, BNC vouchers that can be exchanged 1:1 in the main network can be received for earlier stages of community distribution. At present, BNC is not available for transfer function, until the time that will be divided into four steps: completion of PoA startup, launching of the main network, deletion of Sudo and transfer proposal approved.

Value Capture

  • Liquidity commission for derivatives: Transfer, transaction, mortgage and other behaviors in Bifrost network all need to pay a certain commission to maintain the network. BNC that used to pay commission will be sent to the Treasury for further administration and distribution. (All kinds of tokens can pay commission)

  • Slash collateral: Participating nodes will be required to pledge part of BNC to obtain votes from the asset of Staking pool, while increasing the cost of Slash. Slash collateral will be increased or decreased based on the node's performance score.

  • Governance Voucher: BNC can be used on on-chain parliament, technical committee, Treasury allocation, referendum governance, node election and other chain governance functions, hold BNC can get a right in Bifrost network governance.

  • Capture of Staking Reward: Part of the Staking reward generated from Bifrost will be used for BNC repurchase and put into the State Treasury.

Incentive Model

Reserved part and funds may be adjustable with the development of Bifrost, but Bifrost will not make a zero-cost airdrop and any incentive will satisfy the principle of fundamental value capture.

  • vToken Minting Incentive: vToken liquidity is the most significant value that Bifrost can offer, 15.2% of the TOTAL BNC being used to reward users who mint vToken.

  • PLO (Parachain Lease Offering): Successful IPO symbolizes measureless value to Bifrost network. Bifrost will release 12.8% Token in total to reward the group that helps Bifrost to participate in the IPO.