Bifrost Launches $BNC's Liquid Staking Derivative $vBNC

Polkadot-based DeFi protocol Bifrost announced the launch of $vBNC, which is the liquid staking derivative of its native token $BNC.

Users can stake $BNC to get $vBNC to earn staking rewards. $vBNC is transferable throughout the Polkadot and Kusama ecosystems, and can be used in other DeFi applications to earn yields. $vBNC is redeemable as $BNC at any time. In addition, Bifrost will launch a vBNC-BNC LP farming pool on December 26th.