Polkadot’s Largest LST – vDOT Hits $2.2M Bid Limit on Hydration MM Within 15 Hours Chainwire
Singapore, Singapore, 10 January 2025, Chainwire
Bifrost has announced that vDOT, Polkadot’s largest liquid investable token (LST), has been listed as a collateral asset on the Hydration Money Market. Within 15 hours of deposit and loan opening, vDOT reached the 220k bid limit and exceeded $2.2 million In total (EPA:) Value Locked (TVL) driven by DOT increasing demand.
The integration of vDOT into the money market enables new strategies for Polkadot’s DeFi participants: by investing (DOT), participants receive vDOT, which can be used as collateral to borrow additional DOT. This process allows for the ability to repeat the cycle to explore strategies aimed at optimizing returns. With this introduction, Bifrost is unlocking the possibilities of what is possible in Polkadot DeFi, creating synergies and flywheels for the ecosystem. Users are offered the opportunity to earn double returns, borrow against their invested tokens without sacrificing liquidity and leverage their positions for higher returns. This synergy also improves DOT’s market liquidity, drives user adoption, and exemplifies the DeFi component of the Polkadot ecosystem, making vDOT a core asset within the Polkadot ecosystem.
For more information, users can visit app.bifrost.io or follow Bifrost on X.
About vDOT
Bifrost’s vDOT, short for “DOT Voucher”, is a reward liquid staking token (LST) issued by the Bifrost Staking Liquidity Protocol. vDOT represents the invested DOT on the Polkadot relay chain and collects rewards for the investment, which is reflected as an increase in its value, not its quantity.
As Polkadot’s largest DOT LST, vDOT boasts a total locked-in value of over $50 million, allowing users to maximize their capital efficiency while benefiting from investment rewards.
About Bifrost
Bifrost is a liquid investment application chain adapted for all blockchains, which uses decentralized cross-chain interoperability to enable users to earn investment rewards and DeFi returns with flexibility, liquidity and high security across multiple chains.
ContactMiraclewonder@bifrost.io
