BIFROST CITY is an all-in-one ecosystem of projects that are supported by or built on top of BIFROST — a multichain middleware platform. BIFROST’s multichain technology is needed to bolster the numerous blockchain networks, such as Ethereum, Binance Smart Chain, Polygon, Avalanche, etc, throughout BIFROST CITY to provide scalability, interoperability, and flexibility.
Hence, in the next following months, BIFROST will evolve into the BIFROST Network to accelerate our overarching project vision: to make DApps work. We believe that the BIFROST Network will provide solutions for companies trying to transition from Web2.0 to Web3.0 and for DApps facing limitations. The network will offer the best customized infrastructure for interoperability with multiple blockchains for multichain payments, financial services and more. Then, major communities created on top of these blockchain networks will become more expansive, accessible, and interactive with one another. These communities in the city of BIFROST consist of the following categories:
Let’s take a closer look into these categories.
BIFROST is an open-source platform based on the EVM-compatible Polkadot Substrate enabling cross- chain financial activities in one interoperable ecosystem. Powered by the multichain technology, BIFROST provides a developer-friendly environment for building truly scalable DApps with cross-chain decentralized finance (DeFi) and decentalized exchanges (DEX), including lending and swaps. Powered by the native BFC token, BIFROST will use the staked BFC tokens to vote and elect the initial validator nodes at network launch in Q2/Q3 2022. Participate in BFC Staking for 20% APR before the official launch of the network.
BiFi, the first multichain DeFi project built on BIFROST, is a lending, staking and liquidity pool mining (pooling) platform that offers the first decentralized Bitcoin-collateralized lending against Ethereum assets, and vice versa. Through multichain connectivity, BiFi aims to build a financial infrastructure connecting all the capital markets to allow capital and data to flow seamlessly from one blockchain to another. With the launch of BIFROST Network, BiFi will experience a fresh start by migrating to the BFC Network. [Learn about how this will affect you.](https://medium.com/bifrost/2022-kick-off-roadmap-and-introduction-to-the-bifrost-network-c1bf680f1359#:~:text=With our own mainnet%2C we will not only reduce costs and increase speed but also be able to implement and actualize more features for our DeFi users to target a diverse range of market needs.)
In 2021, BIFROST launched an automated leverage trading platform called BiFi X that allows users to open yield farming and margin trading positions in a few clicks. Using flash loans to perform the leverage in a single transaction, BiFi X improves the leverage trading experience of users and provides an efficient way to maximize returns while saving time and multiple transaction fees. As an extension of BiFi, BiFi’s flash loans allow users to completes both loans and repayments in one transaction, allowing leverage without limiting equity capital. Additional features have recently been integrated to BiFi X to become the most innovative and powerful DeFi. This development not only solves the issues of high gas and service fees, but also enhance the functionalities for any user to trade like an expert.
Named after the Quartermasters in James Bond, ChainRunner Q is designed to be the most flexible automated DeFi aggregator built for end-users to easily use multiple blockchain services. With its pre-built scenarios, ChainRunner Q focuses on providing users a simple and effortless way to provide blockchain services in one unified platform where users can readily execute complex DeFi strategies - such as swap, buy, stake, or lend - all available on the ChainRunner scenario map. Stay tuned for ChainRunner M!