Polkadot (DOT) Parachain Bifrost Launches BNC Staking

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.”
- USDH Launch Boosts Hyperliquid Amid Competitive Market Pressure
- SEC to Decide on Six Spot XRP ETF Applications in October
- Ripple Partners with Ondo Finance to Tokenize U.S. Treasuries on XRPL
- Ethereum Exchange Supply Drops 52% as $3,700 Liquidation Risk Grows
- XRP News: mXRP Vault Surpasses $22M as Investors Capitalize on Staking Rewards
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?