HydraDX Treasury provides $7 million in DOT liquidity staking for Bifrost

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Cointime2024/04/29 08:49

By:Cointime

The HydraDX treasury passed an important proposal to cross-chain approximately $7 million worth of DOT from the HydraDX treasury to Bifrost for liquidity staking, and subsequently use DOT LST to generate income for the HydraDX treasury. This proposal was voted on and successfully executed on the chain, marking the decentralization governance and cross-chain composability of Polkadot's Appchain ecosystem. Currently, Bifrost is the largest liquidity staking Appchain on Polkadot, providing liquidity staking for Polkadot with a minting scale of 9.65 million DOT and a market value of approximately $66 million.

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