Bifrost 2025 Annual Review: Delivering Value Amidst Transformation

The cryptocurrency market faced significant challenges in 2025, including tightening regulations and increased volatility. Yet this environment accelerated the industry’s shift toward sustainable utility. Against this backdrop, Bifrost steadily advanced its vision of “Liquid Staking as Infrastructure Layer,” with 2025 defined by tangible delivery across products and ecosystem development.

1.Economic Model Innovation: bbBNC Enables Value Sharing

Bifrost’s most pivotal advancement was its upgraded tokenomics. The bbBNC mechanism directs 100% of protocol profits to BNC buybacks, with 90% distributed to bbBNC holders. This transforms BNC from a governance token into a value-sharing asset, directly aligning protocol success with community rewards. By year-end, over 20% of the circulating BNC supply had been locked, and more than 1.72 million BNC had been repurchased—establishing a sustainable economic flywheel.

2.Multi-Chain Liquid Staking Growth

Bifrost’s core liquid staking tokens (vTokens) demonstrated robust adoption across ecosystems:

vDOT increased by over 157%, solidifying its position as Polkadot’s dominant liquid staking derivative.

vBNC approached 20 million tokens minted, fueled by staking incentives.

vETH 3.0 launched, enabling native minting and usage across Ethereum, Base, Arbitrum, and other chains—a strategic milestone for omnichain LST adoption.

3.Infrastructure and Product Development

Launched vETH 3.0, delivering seamless “one-LST, multi-chain native usability” to reduce cross-chain friction.

Completed critical Runtime upgrades and AssetHub migration, preparing the protocol for Polkadot 2.0.

Expanded the Reward Share Program (RSP) to 15 partners, collectively driving over $1.8M in incremental TVL.

4.Community and Global Engagement

Executed the Liquid Wave campaign—Bifrost’s largest community initiative—engaging over 37,000 addresses and boosting TVL by more than $3.17M.

The team participated in 27 events across 10 international cities, strengthening ecosystem ties and user education.

5.Key 2025 Metrics

Protocol Revenue: $8.07M

Active Addresses: ~39,000

Total Community Members: 138,000

BNC Repurchased & Burned: 172,000 tokens

Looking Ahead: From Utility to Shared Value

In 2025, Bifrost not only executed multi-chain expansion and technical enhancements but also established a transparent value-sharing framework through bbBNC. As the industry prioritizes sustainable models, Bifrost’s clear incentive design and interoperable infrastructure position it to connect more chains and assets in the coming phase. Building on this foundation, Bifrost is poised to advance as a core yield layer for an expanding multi-chain ecosystem.