This proposal is a resubmission of [Referendum #66](https://bifrost.subsquare.io/democracy/referenda/66) based upon the positive comments received in [LuckyFriday's Validator Boost Proposal discussion](https://bifrost.subsquare.io/posts/3).

LuckyFriday: Validator Boost Proposal Resubmission

**Full Changelog**: [bifrost-v0.9.86...bifrost-v0.9.87](https://github.com/bifrost-finance/bifrost/compare/bifrost-v0.9.86...bifrost-v0.9.87)

Upgrade Bifrost - polkadot to Runtime 0.9.87

**Name of node provider:**
PROMOTEAM 

**Brief Description on node provider:**
PromoTeam is a diverse team of specialists and blockchain activists with various skills that actively promotes the Polkadot ecosystem.
Our main activity is content production, offline and online event organization, community management and creation, product marketing, development of ambassador programs.
We also run validator nodes for Polkadot, Kusama, collators of Bifrost, Astar and other blockchains and participate in the Polkadot ecosystem projects as investors, advisors and contributors.
PromoTeam have talented devops specialized on blockchain validators. We own servers in exclusive locations like Serbia, Uzbekistan , Central Asia and other unique locations, and provide best quality sever support and true decentralisation and diversification. We using  highest security and highest performance solutions to provide quality blockchain validator services for the ecosystem projects for last 5 years. 
PromoTeam leaded by [Alex PromoTeam](https://www.linkedin.com/in/alexpromoteam/) , Polkadot Head Ambassador, web3 and blockchain activist and entrepreneur. 

**The address of the node that wants to join the Validator Boost List and which network:**

**Polkadot**
12WNzfWXzogo8N27yNuE9T1xXC2VyJYmTqRDuePp2CNJLgPk
12BkPLskXyXrHhktrinLxVFkPzzvCzCyVCaqHkUEoxMwSzeq
We are applying with 5% commission(1KV Program recommendation) and intend to keep this throughout the VBL period.

**Liquidity Contribution by VBL Applicant :**
We are already staking significant amount of $BNC for years and going to increase our participation in DeFi activity on Bifrost.  
We are going to provide 30K+ BNC to Omipool on HydraDX

**Marketing - Informational support/contribution by VBL Applicant:**
Alex PromoTeam was one who helped to develop and start Bifrost Ambassador program, he was leading ambassador and coordinator of the program for the first years. Five PromoTeam members are the Bifrost Ambassadors and contributors. We are one of the first supporters and contributors of Bifrost. We host dozens of AMA, created hundreds of articles and videos about the Bifrost , helped to invite thousands Bifrost users, investors, and followers. 

PromoTeam are going to continue support and promote Bifrost and its services on longterm basis. We are one of BNC tokenholders, collators of Bifrost , participate in Bifrost Governance.

**Our nearest plan for Crowdloan Unlock Campaign:**
We are preparing big campaign covering Crowdloan unlock and possible ways to utilize DOTs. 
We are going to present Bifrost as main liquid staking and DeFi provider of the ecosystem.

There will be content, AMAs in Russian and English in telegram and twitter. Crowdloan Telegram Bot informational messaging, and other activities planed. 

**Our total audience now:**
- 5k subscribers for telegram Crowdloan bot - @crowdloanbot (will be rebuild for the Crowdloan Unlock Campaign)
- 45k twitter 
https://twitter.com/DotParachains
https://twitter.com/PromoTeamPD
https://twitter.com/Alex_PromoTeam 
- 10k telegram 
https://t.me/PromoTeamRus
https://t.me/PromoTeamRus
https://t.me/PolkadotRu
https://t.me/polkaprojectcom
 
- [- 1k medium ](https://medium.com/polkadot-ecosystem-promoteam?source=post_page-----310fc2dfe481--------------------------------)

More about our recent Validators, Community development and Polkadot Ambassadors activity - [here](https://medium.com/polkadot-ecosystem-promoteam/boosting-the-polkadot-decentralization-the-launch-of-polkadot-validators-school-310fc2dfe481)

More about PromoTeam activity in Polkadot ecosystem- [ here](https://medium.com/polkadot-ecosystem-promoteam/promoteam-2022-halfway-results-the-review-of-the-q1-q2-99019c880684) 
...

PromoTeam is a team that promotes the Polkadot ecosystem. They create content, organize events, and manage communities. They also run validator nodes for different blockchains. They are applying to join the Validator Boost List for Polkadot with a 5% commission. They plan to support and promote Bifrost and its services and are preparing a big campaign for Crowdloan Unlock. They have a total audience of 5k subscribers on Telegram, 45k followers on Twitter, and 10k members on Telegram.

PromoTeam: Validator Boost Proposal

**Name of node provider:** LEGEND (Polkadot)

**Brief Description on node provider:**  Node Runner FZCO is a stake-as-a-service company based in Dubai, UAE. It operates multiple validators under the “LEGEND” brand, focused on DOTSAMA ecosystem, such as Polkadot (1kv program), Kusama (1kv program), Moonbeam & Moonriver.

**Number of nodes that want to join the Validator  Boost List:** 1

**The address of the node that wants to join the Validator Boost List and which network:** 14zfiH2sMH955cG2yKUQbHSP3oQ8W4Ai9p9wSSZunvQ4TU4k

**Liquidity Contribution by VBL Applicant :**

1. Token amount  provided to minting vToken: 24,500 vDOT
2. Plan to provide vToken liquidity 
vToken - Token LP : 24500 vDOT+39111 DOT

**Other**

- The company validator is self funded and fully supported by the community. 

- We have a potential of minting up to 240k vDOT in total (including the 24,500 that have already minted so far). We may mint more vDOT in the following scenarios:

1. When our current vDOT-DOT is getting out of range, meaning the entire vDOT is fully converted to DOT (due to impermanent loss). In that case we’ll re-supply liquidity by minting new vDOT.

2. We currently provide liquidity on Moonwell app using part of our DOT in order to borrow USDC/USDt. Once it’ll be possible to use vDOT as a collateral on Moonwell, we’ll exchange our collateral from DOT to vDOT by minting vDOT.

- Once the VBL proposal is accepted, we’ll immediately add another vDOT-DOT liquidity of about 16,500 vDOT-DOT (in total).

- Once the VBL proposal is accepted, our validator fees will be decreased from 5% to 3%.

- Besides that, we hold another 1.4m GLMR tokens that we’ll consider minting into vGLMR as well in the future.

- We run a small telegram group for delegators' questions and weekly updates regarding the nodes we’re operating. We’ll start sharing all necessary information regarding Liquid Staking via Bifrost whether our VBL proposal passes or not.



- LEGEND is a company in Dubai that runs validators for different blockchain networks.
- They want to join the Validator Boost List with one node on the Polkadot network.
- They will provide 24,500 vDOT tokens to mint vTokens and plan to provide liquidity for vToken-Token LP.
- LEGEND may mint more vDOT in the future if needed for liquidity or collateral.
- If their proposal is accepted, they will add more vDOT-DOT liquidity, decrease their validator fees, and share information with delegators.

Legend VBL DOT proposal

# Summary

This proposal aims to:

Transfer **87336.59491** BNC from Bifrost Treasury(eCSrvbA5gGNYdM3UjBNxcBNBqGxtz3SEEfydKragtL4pJ4F) to Foundation(dmTEFZ77m7WtJmd7PY6pMh111uTtW9jpwfwasTGsWKUGp5M) for adjusting the incoming farming incentivized round from 23/11/2023 to 31/12/2023. Check details in the chart below:
| Pool Name | Incentivized BNC |
| --- | --- |
| vDOT-DOT (Bifrost) | 29410.9589 |
| vDOT-USDT (Bifrost) | 7436.399217 |
| vDOT-DOT (StellaSwap) | 23483.36595 |
| vDOT-DOT (Beamswap) | 23483.36595 |
| vGLMR-GLMR (Beamswap) | 3522.504892 |
| Total | 87336.59491 |

- Bifrost Treasury wants to transfer 87336.59491 BNC to Foundation.
- The transfer is for adjusting the incoming farming incentivized round from 23/11/2023 to 31/12/2023.
- The transfer will affect different pools, such as vDOT-DOT, vDOT-USDT, and vGLMR-GLMR.
- The total amount of BNC to be transferred will be distributed among the different pools.
- The chart shows the name of the pools and the amount of incentivized BNC they will receive.

Transfer BNC For Adjusting The Next Farming Incentivized Round

Deciding

validator_election

Due to the failure of a previous xcm cross-chain transaction: https://bifrost.subscan.io/xcm_message/polkadot-1e79661a146a0e3e32e80eddb11282c53d19e7f4

The ASTR on vASTR that was originally intended for staking on the Astar network was destroyed on the Bifrost side, but was not normally issued on Astar for Dapp staking: https://bifrost.subscan.io/extrinsic/3248399-4?event= 3248399-22

Therefore, Bifrost needs to reissue this part of ASTR to the SLP module address, so that this part of ASTR can be normally cross-chain and Dapp staking again.

The specific numerical calculation is as follows:
token_pool：556,457,835,498,699,000,000,000
unlocking_total：81,124,945,821,340,200,000,000
ready_pool: 0
delegate on Astar：636,765,121,877,267,000,000,000
Unsettled reward: 169467974813112639907

Deviation value = token_pool + unlocking_total - ready_pool - delegator on Astar - Unsettled reward = 987,127,417,585,298,000,000

- Bifrost had a problem with a transaction before.
- ASTR on vASTR was destroyed on the Bifrost side.
- Bifrost needs to reissue ASTR to the SLP module address.
- There are some specific numbers involved in the calculation.
- Deviation value is 987,127,417,585,298,000,000.

Referendum	Track	Status

#4[Validator Election] Referendum #4	Validator Election	Deciding

#3Fix vASTR staking reserve	Root	Deciding

Proposal			Status

#79LuckyFriday: Validator Boost Proposal Resubmission			Started

#85Upgrade Bifrost - polkadot to Runtime 0.9.87			Executed

Proposal	Last Activity

#12PromoTeam: Validator Boost Proposal	Unknown time

#16Legend VBL DOT proposal	Unknown time

#15Transfer BNC For Adjusting The Next Farming Incentivized Round	Unknown time

Bifrost Polkadot

referenda2

democracy3

discussions3