# Bifrost SALP Supports the Pichiu (Kylin Network) Kusama Crowdloan
Bifrost 宣布支持 Pichiu (Kylin Network) 的 Kusama 众贷。

###### tags: `Marketing`

Bifrost宣布支持 Kusama 的 先进喂价协议 Pichiu (Kylin’s Canary) 的众贷活动。Bifrost 致力于提供多链间锁仓资产的流动性，建立异构链间的流动性桥梁。本次 Kusama 众贷活动期间，Bifrost 将与 Pichiu 合作，助力众贷参与者在 Pichiu 实现质押 KSM 的同时获得流动性衍生品的体验，为参与众贷的用户创造创新型解决方案，帮助更多 Kusama 众贷贡献者在多链化的发展格局下获得更多竞争机会。

Bifrost announced its support for the Pichiu (Kylin’s Canary) Crowdloan, Polkadot’s advanced decentralized data feeding protocol. Bifrost is committed to providing liquidity to locked assets between multiple chains and establishing a liquidity bridge between heterogeneous chains.

During this Kusama crowdloan event, Bifrost will cooperate with Pichiu to help crowdloan participants access liquid derivatives of staked $KSM, creating innovative solutions for users participating in the Kusama crowdloan and competitive opportunities under the multi-chain development pattern.

Bifrost 的优势是以 Kusama 平行链为基础铸造完全去中心化的流动性衍生品，并为参与 Pichiu 众贷的贡献者提供丰富的衍生品使用场景，包括衍生品挖矿、流动性挖矿、Swap、跨链等，本次支持 Pichiu 众贷活动有有助于 Bifrost 拥有让 Pichiu 社区了解到众贷衍生品协议 SALP 为质押锁仓成本提供的新机会，激励更多用户参与到 Pichiu 众贷中。

Bifrost's advantage is to mint fully decentralized liquid derivatives based on the Kusama Parachain, and provide rich derivatives use cases for contributors participating in the Pichiu crowdloan, including derivative farming, liquidity mining, swaps and cross-chain token swaps. Support for the Pichiu crowdloan event will help Bifrost unlock a new opportunity with the Pichiu community to introduce the Slot Auction Liquidity Protocol (SALP), and encourage more users to participate in the Pichiu crowdloan.

Pichiu is singularly committed to the overall vision of DeData and Kylin Network as a canary net for the more interesting and 'out there' use cases of validated data feeding and querying. Pichiu is where some of the most innovative data feeds will be born and tested. It cannot be overstated how synergetically Pichiu will work with Kylin Nertwork within the Dedata ecosystem and we cannot wait to get to the first product-level implemenation of Kylin Network via Pichiu!

Bifrost 运用 Kusama 平行链与中继链跨链的方式，为 Pichiu 众贷提供更完善的使用体验。这种创新的/前所未有的众贷流动性解决方案将使用户有机会在长达 48 周的众贷锁仓期中提高资金利用率，对自己的风险偏好作出选择，享受可持续性的链上优质服务。Pichiu 将协助 Bifrost，在众贷对接流程提供技术支持，推动 Bifrost 与 Pichiu 生态的长久合作。[了解更多 SALP 的去中心化实现](https://hackmd.io/7gf6E-btT52WKnpIwCKM9w)
Pichiu 的 SALP 众贷入口已上线 https://bifrost.app/vcrowdloan ，欢迎开发者与用户体验。

Bifrost implemented a cross-chain between Kusama Parachain and Relay-chain for the SALP, to provide a more complete experience for the Pichiu crowdloan. This innovative crowdloan liquidity solution will give users the opportunity to increase capital utilization during the 48-week crowdloan lock-up period and make choices about their own risk appetite. Pichiu will assist Bifrost, provide technical support in the crowdloan docking process, and promote the long-term cooperation between Bifrost and Pichiu. [Learn more about how SALP will evolve to full decentralization](https://hackmd.io/7gf6E-btT52WKnpIwCKM9w)
Bifrost SALP for the Pichiu Crowdloan has already launched on https://bifrost.app/vcrowdloan, welcome to try it.

### Pichiu Crowdloan
A successful Pichiu Crowdloan is the last step for Kylin's Canary Testnet to go live!

Kylin itself is now very close to completing the querying functionality of the data warehouse (i.e. v0) — we believe it makes sense now to launch a canary network and test out the integrations with our many partners both Polkadot based and others. We can only do that in the very near term via Kusama.
One of the major priorities of this path is to utilize the Kusama bridge to ETH to integrate our Solidity-based partners and offer our community the ability to provide data to them. This we feel will be of fundamental strategic importance as we have a multitude of partners sitting out in the ether (pun intended) and we want to be able to integrate them and test out integrations as much as possible. Ultimately, the traffic — in terms of real implementation paths — is currently on Kusama so it makes sense for us to have a presence there.

Our Tokenomics for the Crowdloan (which are awesome!):
30% parachain crowdloan fund
10% PLO Reserve (Used for future auctions)
9% Community rewards
5% Lock drop rewards
6% Holders reward
20% Marketing fund. (Used for promotions and educational content)
10% Liquidity fund (Liquidity for KSM swaps)
10% developer fund. (Used for infrastructure costs and validator rewards)
Lock Drop Rewards
Total lock drop rewards amounts to 5%.
0.5% $PCHU will airdrop to $KYL holders who lock their $KYL per month. This will last 10 months.
Holder Rewards
Total rewards 6%
1% $PCHU will airdrop to $KYL holders immediately and the remaining tokens will be distributed each month (0.5% per month).
Snapshot details will be shared shortly after winning our slot, so stay tuned.
Based on holder rewards of 6%, 6m / 173m equates to 0.034 $PCHU per KYL.
The values will of course be different for lock drop rewards as its 5% instead of 6%

### About Pichiu

Pichiu is a name derived from the Chinese mythical hybrid creature considered to be a very powerful protector to practitioners of Feng Shui. It resembles a winged lion or dragon. It is also the canary network for Kylin, where we will test some of th emost exciting use cases of DeData!

### 关于 Bifrost
Bifrost（彩虹桥）是波卡生态 DeFi 基础协议，致力成为质押资产提供 Liquidity 的基础设施，推出面向 Staking 和波卡平行链卡槽（Crowdloan）的Derivatives vToken。目前已获得 NGC、SNZ、DFG、CMS 等机构数百万美金融资和 Web3 基金会 Grant，同时也是 Substrate Builders Program、Web3 Bootcamp 成员。

vToken 可在 DeFi、DApp、DEX、CEX 等多场景下优化 Trading，通过 vToken 实现 Staking、Crowdloan 等质押权益的转让通道，实现质押资产风险对冲，扩充场景如 vToken 作为抵押物进行借贷时，其 Staking 收益可抵销部分利息，实现低息借贷。
如需了解更多信息，请访问：https://bifrost.finance/

About Bifrost
Bifrost is the Polkadot Ecological DeFi basic protocol, and is committed to becoming an infrastructure for pledged assets to provide liquidity. Bifrost launched derivatives vToken for Staking and Polkadot Parachain Slot (Crowdloan). It has obtained $2.15M in fund-raising from NGC, SNZ, DFG, CMS and other institutions and Web3 Foundation Grant. It is also a member of the Substrate Builders Program and Web3 Bootcamp.
vTokens can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, CEX, and realize the transfer channel of pledge rights such as staking and Crowdloan through vTokens, realize the risk hedging of pledge assets, and expand scenarios such as vTokens as collateral for lending, its staking reward part of the interest can be offset to achieve low-interest loans.
Learn more about Bifrost: https://bifrost.finance/