Bifrost’s first incentivized testnet started on October 17, 2022 and ended on November 11, 2022. I can say that it is the best testnet ever made. Because the organization was very good, also the user panel and leaderboard where testnet users follow their awards were very well thought out.
In this article, let’s briefly examine Bifrost and its ecosystem, which has successfully completed its first incentivized testnet.
Origin of the word Bifrost
Firstly, let’s take a look at the origin of the word Bifrost together. In Norse mythology, the Bifrost is a rainbow bridge that connects the realm of the gods (Asgard) to the mortal world (Midgard). It is said to be guarded by Heimdall, the guardian of the gods, and can only be crossed by those who have been deemed worthy by the gods. The Bifrost is described as a dazzling and beautiful bridge, but also as a perilous path, as it is said to shake and tremble under the weight of those who cross it. The Bifrost is an important element in Norse mythology and appears in many stories and tales from this tradition.
Heimdallr brings forth the gift of the gods to humanity (1907) by Nils Asplund (Reference: https://en.wikipedia.org/wiki/Heimdall#/media/File:Nils_Asplund_-_Heimdal.jpg)
The Foundation and Founders of Bifrost
PiLab, a research-oriented software provider founded on March 14, 2016, was founded by two professors to solve social and business problems and develop blockchain applications. They created Bifrost, a technology platform that allows developers to easily create multiple blockchains that truly enable multi-chain technologies.
Dohyun Pak, CEO and co-founder of Bifrost, has been developing and managing complex derivatives products for financial institutions in the US and Korea for over a decade. He received his PhD in Financial Engineering from the University of Michigan. Dohyun is currently a professor of Mathematical Finance at Gachon University.
Bifrost’s CTO and co-founder, JongHyup Lee, is currently a professor of Mathematical Finance at Gachon University. After earning his PhD in computer science from Yonsei University, Dr. As a postdoctoral researcher under the supervision of David Brumley, he presented his research at high-level conferences. He is also the co-founder of PPP, the world’s leading hacking team.
Changhyun Yoo, co-founder and COO of Bifrost, graduated early from Seoul Science High School and went on to study Computer Science at KAIST. For over ten years he has developed numerous financial platforms for leading financial institutions. Believing that the future of finance is in the blockchain, he took part in founding Bifrost, where the team directed various talents.
Soso, CMO and co-founder of Bifrost, was previously a medical doctor and is now one of South Korea’s leading cryptocurrency influencers. His passion for cryptocurrencies and expertise in blockchain led him to found Block Crafters Capital, a blockchain-focused venture capital company where more than 30 companies support the growth. Today, Bifrost is a team of 30 people with deep and extensive experience in finance and computer science, from quantitative commerce and fintech development to hacking and network security. Its advisors are from leading blockchain and technology organizations including Coin Plug, Blockwater Management, Block Crafters and KAIST Engineering.
What is Bifrost?
Bifrost is a project originating from South Korea and is a fast and scalable EVM compatible blockchain. It provides an all-in-one environment for developers to build multi-chain dApps.
Realize interoperability with many blockchain networks with Bifrost proprietary cross-chain technology. It provides developers with the necessary infrastructure to perform core blockchain services using detailed code templates and APIs, while providing access to a wide range of enterprise-grade services integrated into the ever-growing ecosystem.
Bifrost, a secure and stable blockchain with network validators providing high-performance Oracle services, promises low fees for network migrations, making multi-chain payment environment useful. It offers the best experience for all users, beginners and experts, with maximum security and speed.
What are BFC and BiFi Tokens?
BFC: The main currency of Bifrost’s multi-chain ecosystem.
BiFi: The currency of BiFi, a multi-chain DeFi built on Bifrost. By lending, borrowing, staking or pooling on the platform, you receive BiFi token rewards in return and become stakeholders of the protocol.
You can find information about BFC and BiFi about the exchanges they are listed on and their contract addresses here.
Bifrost Ecosystem
Bifrost ecosystem consists of three main topics;
Defi
Aggregator
NFT
Let's briefly review these titles.
1. DeFi
Biport: Web and mobile wallet. The mobile version has not been released yet.Link: https://biport.io
BiFi: It is a borrowing and lending platform currently running on four networks (Ethereum).Link: https://bifi.finance
BiFiX: It is a decentralized farming and margin exchange in beta stage.Link: https://x.bifi.finance
Owly: A decentralized daily margin trading platform. It currently operates on the Klaytn network. The system they call Owl offers strategy cards to users, and users can participate in ready-made strategies.Link: https://owly.bifi.finance
Multichain DEX: Coming soon…
2. Aggregator
ChainRunner Q: It connects the universal blockchain ecosystem by bringing all services together in one platform for users to use blockchain and all services easily. It consolidates services from multiple networks such as DeFi and provides users with a simple and effortless way to use them on a single unified platform.Link: https://q.chainrunner.io
ChainRunner M: Coming soon…
3. NFT
BMall: Bifrost NFT market.Link: https://bmall.store/)
Bifrost Incentivized Testnet 2 (Coming Soon…)
Bifrost incentivized testnet 2 is scheduled for the first quarter of 2023. You can join the ongoing crew3 missions and do the necessary missions to get high scores. If you haven’t joined yet, you can join from this link.
As someone who participated in and experienced the first test of Bifrost, I can only tell you this; Don’t underestimate Bifrost and don’t forget to follow it.
Follow Bifrost
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