What are DApps?
DApps (Decentralized Applications) refer to services that operate through smart contracts on blockchains. They provide various services to their blockchains and help enrich their respective ecosystems. The increase in the number and activity of DApps leads to an increase in the inflow of users as well as liquidity into blockchains as observed in the cases such as Optimism and Arbitrum. Ultimately, DApps vitalize blockchains and contribute to creating a healthier ecosystem.
About the BIFROST Network
As the BIFROST Network is a permissionless EVM-compatible layer-one blockchain utilizing Substrate technology focused on enabling interoperability between blockchains, it provides the ultimate environment to build multichain DApps. For instance, the network allows one to purchase a BSC-based NFT using USDT on Ethereum.
BFC is the native token of the BIFROST Network which is a generalized message-passing system that is well-suited for all types of cross-chain applications. By design, it can operate with native tokens that inherit the security of the underlying network. The network allows developers to easily build cross-chain applications, such as a cross-chain DEX service using native assets.
Evaluation and Reward Distribution
Onboarded DApps will be evaluated based on their performance. Final scores will be calculated at the end of the program and each DApp will receive rewards according to the score ranking. Overall performance will be scored according to the following criteria.
Number of transactions incurred (testnet and mainnet)
Originality
Ease of use
Contribution to the blockchain ecosystem
As you can see, early participants are likely to have an upper hand in terms of transactions. Deploying a DApp on the testnet is also a good way to test the service’s potential performance on the mainnet. However, DApps creating transactions with any malicious intention will be disqualified.
A total reward of $100,000 has been allocated for this program. We encourage your participation as it’s not a winner-take-all system! Details about rewards and the scoring system will be revealed in the coming week.
Application form : https://docs.google.com/forms/d/e/1FAIpQLSf-ZA0E2vvwSvNjLfJ40ioYNm8GJJuG_N72d67qowO47BKLVg/viewform
Medium : https://medium.com/bifrost/introducing-the-bifrost-ecosystem-kickstart-initiative-896418ed19c1
Twitter : https://twitter.com/BIFROSTio
Dates
Start date: 5 December 2022
End date: 15 March 2023
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