TechFlow reports that HydraDX treasury passed an important proposal today to cross-chain approximately $6.9 million worth of DOT from the HydraDX treasury to Bifrost for liquid staking, and subsequently use the DOT LST to generate revenue for the HydraDX treasury.
The on-chain proposal was successfully voted and executed, marking a milestone in decentralized governance and cross-chain composability for Polkadot ecosystem Appchains. Currently, Bifrost is the largest liquid staking Appchain on Polkadot, providing liquid staking with over 9.65 million DOT minted, representing a market value of around $66 million.
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