Bifrost Strategic Collaboration With Coinbase Cloud

Published on: 08.09.2022
Bifrost Strategic Collaboration With Coinbase

Bifrost and Coinbase Cloud enter into a strategic collaboration

Bifrost strategic collaboration with Coinbase Cloud, a decentralized infrastructure provider. Coinbase Cloud will support us to achieve our goal in being an important cross chain liquid staking protocol through its high-quality infrastructure and deep ecosystem expertise.

Bifrost’s goal is to provide liquidity for staked assets through the issuance of derivative assets. To achieve this goal, high-quality validators are crucial for helping to expand the protocol and ensure that users who have staked tokens continue to receive rewards. While bringing more participating users, we created a trusted staked DeFi community network.

This long-term strategic cooperation aims to provide value to the communities of both sides through the consistency between Coinbase Cloud and Bifrost. Coinbase Cloud will provide high return and stable Kusama authentication nodes to support liquid KSM – vKSM. Bifrost will also help the Kusama node of Coinbase Cloud run centrally in Bifrost’s active verification node.

As a parachain of Kusama and Polkadot, Bifrost will continue to launch innovative staking derivatives, providing effective liquidity solutions and cross chain liquidity staking services for multiple chains, using the cross consensus information format XCM.

About Coinbase Cloud

Coinbase Cloud provides Web3 APIs, services and blockchain infrastructure to provide power for the next generation of software builders. Coinbase Cloud’s solutions cover a wide range of key encryption functions, including data access, pledge, payment, transaction and exchange, identity, etc.

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About Bifrost

Bifrost is a web3 derivatives protocol that provides decentralized cross-chain liquidity for staked assets. By leveraging on the cross-consensus message (XCM) it can provide cross-chain liquid staking services for multiple chains.

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