Litentry Crowdloan teams up with Bifrost to bring Liquidity DOT Derivatives

is partnering with , a parachain network that provides liquidity for staking tokens. Bifrost will provide Litentry corwdloan contributors with liquidity DOT derivatives (vsDOT & vsBond) for DOTs contributing through Bifrost!


  • Users can contribute to Litentry through , getting liquidity derivatives vsDOT & vsBond-LIT for each DOT staked to hedge against the 96-week DOT locking period. The contribution features on Bifrost will open before the auction starts.
  • Once Litentry wins the auction, the vsDOT will be tradable for swap between DOT and other assets effortlessly.
  • Alongside the aforementioned benefits, Litentry crowdloan contributors can still receive bonuses including basic rewards from the 20M LIT pool, early bird bonus and identity task bonuses specified in our .

What are vsDOT and vsBond?

By participating in the Litentry crowdloan through Bifrost SALP (Slot Auction Liquidity Protocol), users will receive two derivatives: vsDOT and vsBond-LIT.

vsDOT is Fungible Token that anchors the staked DOT, homogeneous with the vsDOT issued from other parachain projects on Bifrost; while vsBond-LIT is specially issued for Litentry when users vote for Litentry parachain.

Once the Litentry parachain is retired, vsDOT and vsBond-LIT together can fully redeem the underlying DOT. In other words, as a liquidity derivative, vsDOT can be freely exchanged between parachains with different lease periods to increase market flexibility.

Use cases of vsDOT and vsBond-LIT:

  • Both vsDOT and vsBond-LIT can be traded at any time in the Bifrost Liquidity Pool, or in liquidity pools opened by third parties.
  • The staked DOT can be redeemed using vsDOT and vsBond-LIT in a 1:1 consolidation at the end of the slot lease period.

Litentry reserves the right to interpret and amend the rules and details of this event.

About Litentry

Litentry is a Decentralized Identity Aggregator that enables linking user identities across multiple networks. Featuring a DID indexing protocol and a Substrate-built distributed DID validation blockchain, Litentry provides a decentralized, interoperable identity aggregation service that mitigates the difficulty of resolving agnostic DID mechanisms. Litentry provides a secure vehicle through which users manage their identities and dApps obtain real-time DID data of an identity owner across different blockchains.

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