Litentry Crowdloan teams up with Bifrost to bring Liquidity DOT Derivatives

  • Users can contribute to Litentry through Bifrost, 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 Crowdloan Plan.

What are vsDOT and vsBond?

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.

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