Experience LST Governance Proposal

The purpose of this proposal is to allow the community to experience the voting functionality of vBNC.

Background

As part of the core objectives for the successful upgrade to Bifrost 2.0, we have completed the migration of all Bifrost services from Bifrost-Kusama to the Bifrost-Polkadot network.

A key component of this migration is the launch of the new vBNC on the Bifrost-Polkadot network.

Following this migration, the BNC Tokenomics 2.0 will be fully implemented on the Bifrost-Polkadot network.

Why Empower vBNC with Voting Power

In traditional staking, tokens are locked for a period, which prevents their use. If you want to vote on a proposal, you must unstake your tokens, causing you to lose staking rewards.

Bifrost's LST Governance introduces a new way for users to participate in decentralized decision-making without sacrificing staking rewards.

LST Governance Features

Bifrost's LST governance offers the following features:

• View ongoing proposals on the main chain
• Vote "Aye," "Nay," or "Abstain"
• Choose a conviction level for your vote
• Lock vTokens to participate in voting
• Unlock vTokens once the lock period ends

Through this proposal, users can experience the voting power of vBNC and actively participate in the Liquid Wave.