# Bifrost SALP release liquidity for Kusama/Polkadot Slot Auction
###### tags: `External`
## Table of Contents

[TOC]

## What is SALP?

SALP (Slot Auction Liquidity Protocol) is a first-of-its-kind liquidity protocol launched by Bifrost to release locked DOTs/KSMs from the Parachain auction process for the Polakdot ecosystem. The protocol was official launched on September 16, 2021 and supports Bifrost in the second round of slot auctions with four other Parachains.

The SALP seperate two tokens for one underlaying KSM/DOT:

**vsToken and vsBond**

- What is vsToken?
vsToken is a fungible token, mint 1KSM/DOT get 1vsKSM/DOT, and vsToken can be traded and transferred at any time just like ordinary tokens.

- What is vsBond?
vsBond is a semi-fungible token, Mint 1KSM/DOT get 1vsBond, and vsBond represents to the lease period of different parachains, so different parachains got different vsBond.


- How to use vsToken and vsBond?
1. **Circulation**: The vsToken can be traded in AMM and vsBond circulates in a pending order market.
2. **Redemption**: When a parachain retired, the same amount of vsToken and vsBond can fully redeem their corresponding underlaying token. eg. Alick contributed parachain A for 10 DOT, so she got 10 vsDOT+vsBond-A. Once the parachian A retiredm, she can destory 10 vsDOT+vsBond-A and redeem her underlying 10 DOT.
3. **Farming**：* *Please check details at the part of Farming* *

Learn more details about vsToken and vsBond at [here](https://wiki.bifrost.finance/start/salp).

The Mechanism of SALP
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SALP achieves contribution and confirmation in different ways on Kusama and Polkadot

> Read details about [SALP on Kusama](https://hackmd.io/7gf6E-btT52WKnpIwCKM9w)
> Read details about [SALP on Polkadot](https://hackmd.io/MdL7i30wSyOmAhe0cTcHuw)

How to apply for SALP support？
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There are several steps to go though Bifrost democracy for SALP onboarding, which will normally take 9 days to finish the whole process. Check the [guidance](https://hackmd.io/eH7WJzv1S6aW5dCoV76mQg).

SALP APIs
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Kusama & Polkadot SALP APIs: https://hackmd.io/erri6l3ESP690XEDC_zTnw

Here are some previously intergration examples on Litmus (Litentry) Crowdloan page: https://kusama-crowdloan.litentry.com/





About Reward Distribution
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Because of SALP execute contribute by Bifrost parachain address (without private-key), which is running fully under the SALP pallet logic: https://github.com/bifrost-finance/bifrost/tree/develop/pallets/salp
So, we cannot do delegating Crowdloan reward distribution for any project like a CEX does. The SALP API https://hackmd.io/erri6l3ESP690XEDC_zTnw Bifrost-Service can help you to check all details of each contribution, you can run a script to distribute crowdloan rewards.

What is SALP Farming
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Early-bird farming enabling parachain candidates accumulate more contribution during the crowdloan period.

Under the slot auction liqudity solution of Bifrost SALP, all contributions will mint vsToken & vsBond, and each Bifrost supported parachain candidates will be able to create a farming pool for contributors to mine extra rewards by vsKSM & vsBond. There are only 2 steps that candidates need to do:
1. Creat Pool on Bifrost
2. Recharge Reward


Check more details about [how to create a Farming](https://hackmd.io/kHcbg_VdQ9-qVyZqahLwtw).

Marketing Promotions
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The SALP module, as the core of Bifrost's liquidity business for slot auction, has accumulated 151,980.6 KSM derivative castings since it went online in September, with a market value of approximately $54,712,944. Moreover, all four projects (Basilisk, Kintsugi, Altair, Parallel) supported by the SALP have successfully won the parachain auction.

For supported projects, we will draft the [partnership article](https://medium.com/bifrost-finance/bifrost-will-support-basilisk-kusama-crowdloan-through-salp-protocol-89c85bd28d95) and support the annoucement on [Twitter](https://twitter.com/bifrost_finance), [Telegram](https://t.me/bifrost_finance), [Bifrost Forum](https://forum.bifrost.finance/) and [Medium](https://bifrost-finance.medium.com/).