The Good Tech Companies - Polkadot‘s Largest LST - vDOT, Reached $2.2M Supply Cap On Hydration MM Within 15 Hours

Episode Date: January 10, 2025

This story was originally published on HackerNoon at: https://hackernoon.com/polkadots-largest-lst-vdot-reached-$22m-supply-cap-on-hydration-mm-within-15-hours. Within 15 hours of opening deposits and borrows, vDOT reached the supply cap of 220K and surpassed $2.2 million in Total Value Locked (TVL) pushed by DOT levera Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #polkadot, #chainwire, #press-release, #polkadot-announcement, #crypto-exchange, #crypto-staking, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. vDOT, Polkadot’s largest liquid staking token (LST), has been listed as a collateral asset on Hydration Money Market. Within 15 hours of opening deposits and borrows, vDot reached the supply cap of 220K and surpassed $2.2 million.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Polkadot's largest LST, VDOT, reached $2.2 million supply cap on hydrationm within 15 hours, by Chainwire. Singapore, Singapore, January 10, 2025, Chainwire, Bifrost has announced that VDOT, Polkadot's largest liquids-taking token, LST, has been listed as a collateral asset on Hydration Money Market. Within 15 hours of opening deposits and borrows, VDOT reached the supply cap of 220k and surpassed $2.2 million in total value locked, TVL, pushed by DOT leveraging demand. The integration of VDOT into Money Market allows for new strategies for Polkadot's

DeFi participants. By staking Polkadot, participants receive VDOT, which can be used as collateral to borrow additional DOT. This process all allows for the possibility of repeating the cycle to explore strategies aimed at optimizing returns. With this introduction, Bifrost is unlocking the opportunities of what's possible in Polkadot DeFi, creating synergies and flywheels for the ecosystem. Users are offered the opportunity to earn dual yields, borrow against their staked tokens without sacrificing liquidity, and leverage their positions for higher yields. This synergy also enhances dot market liquidity, drives user adoption, and exemplifies the DeFi composability of Polkadot ecosystem, making VDOT as a cornerstone asset within

the Polkadot ecosystem. For more information, users can visit app.bifrost.io or follow Bifrost on x about v.Bifrost's VDOT, short for, VoucherDOT, is a reward-bearing liquid staking token, LST, issued by the Bifrost Staking Liquidity Protocol. VDOT represents staked DOT on the Polkadot relay chain and accrues staking rewards, reflected also on increase in its value rather than its quantity. As Polkadot's largest DOT LST, VDOT boasts a total locked value of over $50 million, enabling users to maximize their capital efficiency while benefiting from staking rewards. About Bifrost Bifrost is a liquid staking app chain tailored for all blockchains, utilizing decentralized cross-chain interoperability to empower users to earn staking rewards and defy yields with flexibility, liquidity,

and high security across multiple chains.Contact Wunderwunder at Bifrost.io. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.