Blockdaemon is proud to become Bifrost’s newest partner, supporting the infrastructure of the vKSM liquid staking derivative.
For years, Blockdaemon has provided institutional-grade full node, collator and validator node access across both Kusama and Polkadot. Our offerings, spanning multiple parachains, deliver liquid staking, staking, and node services.
We’re excited to extend our support to Bifrost’s continued growth in the Kusama ecosystem. Blockdaemon now delivers a high-quality, gold-standard blockchain service to further strengthen Bifrost’s vKSM offering and the Kusama chain as a whole.
Want to hear more about how Blockdaemon can help you with your Blockchain journey? Contact us today to chat more about our blockchain solutions, or read on to get a closer look at what’s new.
What is vKSM?
Launched in May 2022, vKSM (voucher KSM) is the first liquid staking offering on the Kusama network.
These tokens are minted through the Bifrost Staking Liquidity Protocol (SLP), which fully underpins the KSM reserve. By staking KSM through Bifrost’s SLP, you receive vKSM tokens mirroring the exact amount of KSM you stake. With these tokens, you can participate in Kusama DeFi, with a fully paired token.
Collectively, the global network of KSM holders are responsible for the Kusama network’s security. This security is maintained by staking. Through staking, Kusama’s liquidity flows to trusted validators, the guardians of Kusama decentralization.
However staking has a major problem; staked KSM is locked-up and can’t be used in any lucrative and exciting Kusama web3 projects.
With the Bifrost Staking Liquidity Protocol as an easy on-ramp to liquid staking, it is now possible for an institution or individual to participate in Kusama’s DeFi economy. All while aiding Kusama’s decentralization.
Blockdaemon’s Bifrost Support
Blockdaemon’s world-class blockchain infrastructure will provide strong, stable validator support for vKSM.
This solution is maintained by our team of world-class blockchain engineers. Many of these engineers are specialized in the Substrate ecosystem.
Blockdeaemon’s proven track record across liquid staking solutions offers many benefits to Bifrost’s ecosystem. Our 100% slashing insurance guarantee helps create a 360-degree secure staking environment in the unlikely event of a Kusama slashing event occurring. This insurance policy forms a core pillar of our ‘security-first’ approach to blockchain infrastructure.
The Bifrost Staking Liquidity Program will help Blockdaemon’s Kusama nodes run in the active validator set, backed by vKSM minting. As a Kusama validator, Blockdaemon will actively help maintain the health of the Kusama chain, while adding significant value to Bifrost’s liquid staking offering. Blockdaemon’s role as a validator strengthens the Kusama blockchain itself. As a validator, Blockdaemon aids in the decentralization, liveness and security of the chain.
This helps maintain the health of Kusama, Polkadot’s long established sister network.
Blockdaemon Supports Bifrost’s Success
Liquidity is the lifeblood of web3 applications.
Today, institutions and individuals need new tools and infrastructure to navigate the Kusama DeFi landscape, or risk remaining anchored far from the lucrative opportunities that are available. Despite the opportunities that exist, there has never been a liquid staking onramp for financial institutions or individual stakers to benefit from Kusama’s web3 offerings.
Bifrost’s vKSM token is the first fully backed, enterprise-ready Kusama liquidity on-ramp.
We’re proud to offer our industry-leading validator ‘node stack’ and technical expertise to support Bifrost’s ongoing success.
By combining Blockdaemon’s enterprise-grade node support with Bifrost’s innovative liquid staking solution, this partnership is positioned to support the ongoing success of vKSM long into the future.
