š Ethereum turns 10!
To celebrate, letās rewind how Bifrostās journey with @ethereum has unfolded ā from pioneering $ETH liquid staking to expanding across Layer2s from our Polkadot home base.
Hereās our story with ETH š§µš
@ethereumfndn Since its inception, Bifrost has been committed to creating an omni-chain Liquid Staking protocol and promoting Bifrost LSTs to become the standard for omni-chain Liquid Staking Tokens.
2020, Nov 27 ā Before the Beacon Chain even launched, Bifrost introduced Voucher Ethereum $vETH 1.0, a liquid staking solution for ETH.
As the first batch of @ethereum LSTs, vETH received more than 18,000 ETH minted within a month.
vETH was designed with 3 key advantages:
š¹ Competitive yields
š¹ High security
š¹ Dual-ecosystem liquidity (Substrate + EVM)
2023, April 6 ā After Goerli testing & audit, Bifrost deployed $vETH 2.0 on Ethereum mainnet to be ready for the Merge and Shapella upgrades.
šø Users could seamlessly convert vETH 1.0 ā vETH 2.0 at 1:1.
šø vETH switched from rebase to yield-bearing as rewards mechanism
With the launch of the @Polkadot appchain, Bifrost migrated the vETH staking management logic from Ethereum smart contracts to the Bifrost appchain, improving vETH's security, cross-chain interoperability, and scalability.
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Currently, vETH 3.0 is set to launch soon as a new version of Ethereum LST.
It features ERC-4626, real-time cross-chain minting, and free cross-chain gas fees, making it more practical and user-friendly than traditional ETH LST.
In vETH 3.0, Bifrost creatively places $ETH hosting in more secure chains.
At the same time, through cross-chain proxy contracts, the vETH-based LST applications will continue to operate in the @Ethereum, @Base, @Arbitrum, @BNBCHAIN, and @Polkadot Hub ecosystems with increased liquidity.
Stay tuned and keep believing in somETHing š
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