Bifrost and Velocity: supercharging liquid staking together

We’re excited to announce that together with Bifrost, the new Liquid Staking Standard, we’ve embarked on a journey to solidify and expand their position as ecosystem leaders, not only for Polkadot but for the wider crypto space.

Liquid staking continues to grow in adoption throughout the crypto ecosystem. In Ethereum alone, Lido dominates the market with 31,6% of all ETH staked through the solution. But Lido provides services only for Ethereum and Polygon while there are dozens of Proof-of-Stake chains in the ecosystem, turning crypto into a space ripe for opportunity for cross-chain services. Bifrost provides that much needed cross-chain liquid staking services across a number of parachains like Polkadot, Kusama, Moonbeam and other crypto chains such as Filecoin, Ethereum and Manta.

We recognize that the current priorities for the Bifrost team encompass various critical areas such as product ideation, devising adoption strategies for vTokens (particularly vDOT and vETH), and ideating new use cases for LSTs on top of Bifrost and beyond.

Understanding the significance of these endeavors, we firmly believe that our initiatives and resources at Velocity Labs can serve as invaluable assets in propelling the Bifrost team towards realizing its full potential. With our deep understanding of the DeFi landscape, extensive network within the Polkadot ecosystem, and expertise in liquidity strategies and product development, we are confident in our ability to provide meaningful contributions.

“At Velocity we see Bifrost’s opportunity to become the main LST infrastructure provider not only for Polkadot but for the whole crypto space. We believe this would bring great value to the DeFi ecosystem in Polkadot by allowing other teams to tap and make use of the deep staked liquidity in a safe and efficient manner.” — Nicolás Arevalo, CEO and Co-Founder of Velocity Labs.

We are grateful for Bifrost’s trust, and confident that together we can advance the liquid staking market by creating attractive offers for stakers across the ecosystem. Stay tuned for updates.