Sign Up on MEXC
Polkadot (DOT) parachain Bifrost has officially launched BNC staking with the completion of the mainnet Collator upgrade on March 22. Users can now participate in BNC staking by registering a delegator and stake BNC to collators and earn rewards on Bifrost Dapp. The opening of Collator access marks a significant step to achieve parachain autonomy and shared security.
Bifrost Announces BNC Staking
Bifrost, Polkadot parachain for liquidity staking, has announced in a tweet the launch of Collator mainnet access and BNC staking.
“Our #Collator is officially live on Mainnet Now register a delegator and stake $BNC to collators & earn rewards at bifrost.app/collator This launching marks an important step in our roadmap — our block collection is now decentralized!”
As per Bifrost Roadmap, the launch is divided into a test stage and a formal stage. In the test phase, from February 24-March 11, the Bifrost team conducted tests to check the safety and stability of the Collator module. In the formal stage, each round of 600 blocks in the Collator’s operation cycle takes around 2 hours. With the completion of each round, a reward is paid.
Anyone seeking to become a mainnet collator of Bifrost will need to stake at least 5000 BNCs to participate in the block.
At present, only 16 active validator seats, or active Collator slots, have been opened for developers to join. The number will gradually increase every 7 days to 32 and a maximum of 64 seats, as the network on the chain becomes stable.
Collator BNC Staking and Reward Distribution
In accordance with the design of the Bifrost economic model, there is no inflation mechanism for BNCs. Moreover, 5% of the total BNC in circulation will be reserved for Collator incentive construction. The incentive amount in the first year is 800,000 BNCs, with Collator and Delegator earnings being 10%, which is 80,000 BNC, and 90%, which is 720, 000 BNC, respectively.
“Collator will decentralize the packaging of transactions on the Bifrost chain to achieve block collection by consensus with the validator on the relay chain.”
- Arkham Uncovers $5 Billion in Untouched Bitcoin From Germany’s Movie2K Seizure
- World Liberty Financial Discloses Reason for Blacklisting 272 Wallets
- September 50 BPS Fed Rate Cut Odds Climb Ahead of CPI, PPI Data
- Michael Saylor Spotlights Strategy’s Performance Following S&P 500 Snub
- Donald Trump Shortlists Hassett, Warsh, and Waller for Fed Chair
- Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?
- XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
- ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?
