Latest news with #vDOT
Associated Press
01-04-2025
- Business
- Associated Press
Hyperbridge Becomes Polkadot's Native Bridge as DAO Backs DeFi Singularity Proposal
New initiative aims to improve DOT liquidity and accessibility across multiple ecosystems The Polkadot DAO has officially approved the Polkadot DeFi Singularity initiative, a landmark proposal designed to expand the accessibility of DOT and its derivatives across the multichain. With overwhelming community support, this initiative will enhance liquidity and interoperability, making it easier for developers and users to engage with Polkadot's DeFi ecosystem. As part of this decision, the DAO has selected Hyperbridge as its native bridge, reinforcing its commitment to seamless cross-chain connectivity. The proposal, which is a joint effort by Hyperbridge and Bifrost, seeks to address Polkadot's liquidity challenges by incentivizing DOT liquidity in external ecosystems. Historically, limited on-chain accessibility has restricted external users and liquidity from entering Polkadot efficiently, slowing its expansion relative to other blockchain networks. To counter this, the DAO has allocated 795,000 DOT from the Polkadot Treasury to launch a liquidity campaign. The campaign will distribute vDOT incentives to liquidity providers on key decentralized exchanges, focusing on DOT/ETH and vDOT/ETH pairs across Arbitrum, Base, BNB Chain, and Ethereum mainnet. By broadening DOT's presence in these ecosystems, the initiative aims to position DOT as a reserve asset, attract greater liquidity, and showcase Polkadot's interoperability across Web3. Seun Lanlege, Co-founder of Hyperbridge shared, 'This proposal lays the necessary groundwork for the $DOT asset to find greater utility in the multichain as well as the pathways for new users and developers into the Polkadot ecosystem.' This approval marks a strategic step forward in Polkadot's vision for a more interconnected and liquid ecosystem. With the Polkadot DeFi Singularity now set in motion, the stage is set for greater adoption, developer participation, and user engagement within the Polkadot network. For media inquiries, please contact Jonathan Duran at Jonathan(at)Distractive(dot)xyz About Hyperbridge Hyperbridge is a cryptoeconomic coprocessor for secure, verifiable interoperability powered by consensus and storage proofs. Hyperbridge is the HTTPS of blockchain interoperability, providing developers with onchain and off-chain SDKs for securely sending cross-chain messages (POST requests) and reading on-chain storage (GET requests). About Polkadot Polkadot is the powerful, secure core of Web3, providing a shared foundation that unites some of the world's most transformative apps and blockchains. Polkadot offers advanced modular architecture that allows devs to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it, and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, users are not just participants, they're co-creators with the power to shape its future.
Associated Press
06-03-2025
- Business
- Associated Press
Bifrost x Hyperbridge: Scaling Polkadot's Liquid Staking Across Chains
Hong Kong -- Bifrost, the leading liquid staking appchain, has partnered with Hyperbridge, a next-gen interoperability coprocessor, to scale the adoption of Polkadot's largest Liquid Staking Token (vDOT) across EVM-compatible blockchains. Polkadot faces a challenge: a high staking rate but low liquid staking adoption, leaving DOT's yield potential largely untapped. This partnership integrates Bifrost's liquid staking techstack— SLPx with Hyperbridge's ZK-optimized interoperability layer, offering two key benefits: Sovereign Liquidity Flow: vDOT becomes the first liquid staking token natively compatible with both EVM and non-EVM chains, unlocking new liquidity for Polkadot and enabling cross-chain DeFi use cases. Protocol-Owned Security: All cross-chain operations inherit Polkadot's battle-tested consensus, ensuring security without external trust assumptions. Bifrost's SLPx simplifies multi-chain liquid staking by consolidating liquidity onto a single chain—eliminating the need to bootstrap vDOT liquidity across multiple ecosystems, reducing transaction fees, and improving efficiency. Hyperbridge, leveraging zkSNARKs and Merkle Tree-optimized state proofs, reduces proof size by over 90% while enabling batch verification. All validated block headers and historical states are permanently stored without requiring full-chain synchronization. This integration abstracts cross-chain complexity, allowing DOT holders to seamlessly stake to vDOT via Bifrost's non-custodial protocol and deploy liquidity across Base, Optimism, Arbitrum, and BNB Chain via Hyperbridge—transforming liquid-staked DOT into a yield-generating asset across ecosystems. As blockchain boundaries fade into the background, Bifrost and Hyperbridge are accelerating the future of frictionless, chain-agnostic decentralized finance, making true multichain liquidity a reality. Bifrost is a Liquid Staking Appchain tailored for all blockchains, utilizing decentralized cross-chain interoperability to empower users to earn staking rewards and DeFi yields with flexibility, liquidity, and high security across multiple chains. Hyperbridge is a coprocessor for secure, verifiable interoperability powered by consensus and storage proofs. It acts as the HTTPS of blockchain interoperability, providing developers with onchain and off-chain SDKs for securely sending cross-chain messages (POST requests) and reading on-chain storage (GET requests).
