Web3Go x Bifrost: track and simulate staking schema in Bifrost’s Collator Mechanism
Web3Go launched a new Staking Dashboard to real-time track staking activities in the Bifrost Collator Staking and provide a simulation of different staking schema. The dashboard allows users to find the optimal staking strategy based on the current ranking of the Collators and Delegators’ stakes.
Collator Staking on Bifrost Finance
Bifrost uses a block production mechanism based on Polkadot’s Proof-of-Stake model where Collators stake BNC tokens to maintain the Bifrost parachain. Bifrost’s community members can stake tokens to vouch for specific Collators and earn staking rewards. Bifrost network reserved 5% (4,000,000 BNC) of total issuance to incentivize Collator mechanism for 5 years (800,000 BNC/year), with no inflation. The reward for each Round is a fixed 180 BNC. For detailed information, please read Bifrost Wiki.
In short, users can stale to delegate a Collator and add up the Collators’ stake. In return, when Collators produce blocks and earn rewards, they will release rewards amongst their Delegators. Specifically, 90% of the staking rewards will be released to Delegators, while 10% goes to the Collator commission.
For a staking schema that optimizes rewards, one should consider the following aspects:
- Your supporting Collator must be ‘active’ to produce blocks and release staking rewards. ‘Waiting’ Collators are candidates that release no staking rewards.
- You must be in the top 100 Delegators by staking amount in that Collator’s campaign to be able to receive staking rewards.
- Your rewards will be based on your delegating amount VS the total amount of staking the Collator received. So the greater the proportion, the higher the rewards will be.
The Bifrost Staking Dashboard
Web3Go provides an all-in-one place to find staking-related data in Bifrost Staking and gives you an in-depth look at the staking events.
For example, at the top of the Bifrost Staking Dashboard, you can find the round index, block number, and round progress to keep track of the current status of the network.
The above table gives an overview of the currently active set of Collators and their staking campaigns: ranking of the Collators, total stakes/self stake/delegator stake, total rewards, average block, current block, APR (annualized income pledged to the current Collator.), and rewards in the last 10 rounds.
You can also view the detailed list of Delegators of a selected Collator along with their stakes and the percentage. The historical reward earning events in each block are also shown on this page.
Staking Simulator
Web3Go has built a Simulator that helps you make smart decisions taking all the aforementioned considerations into account.
In Simulate, you will find the reward history in the last 10 rounds of a Collator’s campaign. The line graph above shows the total stake, the rewards of the Delegators, and the RPM of this campaign. You could also find the minimum, maximum, and average rewards per BNC and the volatility score of the rewards, which indicates how volatile/stable the rewards are.
More importantly, you can estimate a real-time reward in this campaign using the Estimate Reward feature: type in the amount of BNC you intend to stake, then the system will show information including your stake’s ranking in this campaign, reward range, and how much your competitors are staking. You would want to stay at least above the top 100 among the Delegators to receive any rewards from this campaign.
You might repeat this action by looking around and checking on other Collator campaigns’ estimated rewards. By comparing the rewards, you could potentially find the campaigns that provide higher rewards with less amount of staking.
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About Bifrost Finance
Bifrost is a Web 3 derivatives protocol that provides decentralized cross-chain liquidity for staked assets. By leveraging on the cross-chain message (XCM) it can provide cross-chain liquid staking services for multiple chains.
Bifrost’s mission is to provide standardized cross-chain interest-bearing derivatives for Polkadot relay chains, parachains, and heterogeneous chains bridged with Polkadot. Furthermore, by aggregating over 80% of PoS consensus chains’ staking liquidity through cross-chain derivatives, our protocol lowers users’ staking threshold, increases multi-chain staking ratio, and improves the ecosystems application interest base, by creating a three-way positive cycle for the StakeFi ecosystem by empowering users, multi-chains, and ecosystem applications.
Bifrost has raised over USD 2M from top-tier venture capital firms by the likes of NGC, SNZ, DFG, CMS and other institutions. In addition to being an early receiver of a Web3 Foundation Grant, Bifrost is also a member of the Substrate Builders Program and the Web3 Bootcamp.
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About Web3Go
Web3Go is a multi-chain all-in-one data platform providing rich web3 data services to users, developers, and project owners, including Go Analytics, Go Push , Go ID, built-in communities and data APIs.
With Go Analytics, an open data analytics platform, users could extract, curate, and visualize data ranging from cross-chain assets transactions, Polkadot parachain slot auctions, DeFi activities to token transaction histories with powerful yet easy-to-use tools. Apart from Go Analytics, the programming notification push dApp Go Push as well as the profiling/labeling product Go ID to create user portraits and accumulate their identity library according to the behavior data on the chain are developed with help of the data uniform programming interface provided by Web3Go. Web3Go aims to be the essential technical infrastructure for data applications of all kinds in multi-chain ecosystems.
