Bifrost
Bifrost operates a decentralized EVM-compatible Layer-1 blockchain with native cross-chain interoperability (CCCP), targeting Web3 developers, DeFi users, and the multichain ecosystem across global markets.
- Company typePrivate
- Founded2018
- HeadquartersSeoul, South Korea
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What Bifrost does
Bifrost is a decentralized blockchain infrastructure company operating the Bifrost Network, an EVM-compatible Layer-1 blockchain built on the Substrate framework. Founded in 2017-2018 and headquartered in Seoul, South Korea, with technical operations handled by Bifrosoft PTE LTD. in Singapore, Bifrost targets Web3 developers, DeFi users, and the broader multichain ecosystem. Its core technical proposition is the Cross-Chain Communication Protocol (CCCP), which enables native cross-chain interoperability without reliance on external bridges, allowing DApps to access liquidity and assets across multiple blockchains.
The Bifrost ecosystem encompasses a Layer-1 network (3-second block time, 1,000 tx throughput, $0.004 average transaction cost), the Chainrunner multichain swap technology, a built-in cross-chain bridge, a decentralized oracle service, and integrated sub-products including BiFi (multichain lending/staking), BTCFi (Bitcoin-backed CDP for BtcUSD minting), Pockie wallet, Witchworld NFT platform, and a Bifrost Explorer. Bifrost also operates an Ecosystem Fund grant program to incentivize DApp development.
Bifrost generates revenue through transaction fees (gas), bridge service fees (0.005%-0.05%), and validator commission fees. The go-to-market motion is community-led and product-led for developers, with no traditional sales motion. Distribution occurs via self-serve through the network website, wallet integrations (MetaMask, Coinbase Wallet, Coin98, Pockie), and open-source GitHub repositories. Partnerships with Animoca, AWS, NANSEN, KDDI, Pacific Meta, Oasys, Japan Open Chain, Core, and Chainlink support ecosystem credibility. The company has raised approximately $8.7M in disclosed funding, including a $8.34M Series A in February 2022 led by Korea Investment Partners and STIC Ventures.
Bifrost firmographics
Firmographics- Name
- Bifrost
- Legal name
- Bifrosoft PTE LTD.
- Website
- https://thebifrost.io
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Bifrost operates a decentralized EVM-compatible Layer-1 blockchain with native cross-chain interoperability (CCCP), targeting Web3 developers, DeFi users, and the multichain ecosystem across global markets.
- Ownership category
- akta.pro rank
Bifrost industry classification
Industry- NAICS
- Software Publishers (5132)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Cross-Chain Messaging Protocols (general-purpose message passing) (FSAPAKAA)
- akta.pro secondary industries
- Liquidity Bridges & Cross-Chain Swaps (bridge aggregators, intent-based swaps) (FSAPAKAC), Relayer/Validator Networks & Middleware (relayer marketplaces, keeper networks) (FSAPAKAG), Cross-Chain Developer Tooling (messaging SDKs, relayers, interoperability APIs) (FSAPABAF)
Keywords
Where Bifrost is headquartered
LocationHeadquarters
- HQ city
- Seoul
- HQ country
- South Korea
- HQ region
- Asia
Offices1 record
Markets served
Bifrost business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations
Revenue model
- Transaction/Gas Fees: The Bifrost Network generates revenue through transaction fees (gas fees) on its blockchain. The average cost per transaction is $0.004.
- Bridge Service Fees: The Bifrost Bridge charges fees for cross-chain asset transfers. Current service fee ranges from minimum 0.005% to maximum 0.05%, varying depending on network conditions.
- Staking/Validator Operations: Validators earn rewards through staking operations. Commission fees vary by validator and are charged to nominators who stake to them in exchange for delegation.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Transaction Fees |
| Transaction based/ take rate | Pay-as-you-go | Bridge Service Fees |
| Freemium | Pay-as-you-go | Testnet Faucet |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels8 records
Bifrost product offering
Product offeringCore offering
Bifrost operates a decentralized, EVM-compatible multichain Layer-1 blockchain (Bifrost Network) built on Substrate, offering native cross-chain interoperability via its Cross-Chain Communication Protocol (CCCP). It sells access to the network's infrastructure — including an integrated cross-chain bridge, native Bitcoin DeFi protocols (BiFi multichain lending and BTCFi CDP/BtcUSD), the Pockie multi-chain wallet, Chainrunner multichain swap technology, and developer tooling (Explorer, testnet faucet, governance) — and generates revenue primarily through transaction (gas) fees and bridge service fees.
Product overview
Bifrost is a decentralized multichain ecosystem centered around the Bifrost Network, an EVM-compatible blockchain built on Substrate framework launched in January 2023. The ecosystem comprises core infrastructure (Bifrost Network with native cross-chain bridge, staking, and governance), DeFi products (BiFi for multichain lending/staking, BTCFi for Bitcoin-backed lending), wallet solutions (Pockie), and developer tools (Chainrunner, Explorer, Faucet, Ecosystem Fund). The network supports multichain interoperability through its Cross-Chain Communication Protocol (CCCP) and offers EVM compatibility for seamless developer onboarding.
Differentiator
Problem solved
Functional benefit
Brands
- BiFi: Multichain lending, staking, and liquidity pool mining platform that offers the first decentralized Bitcoin lending
- BTCFi
- Pockie
Quantifiable outcome
- 3 second block time with 3 second transaction finality
- +2 more outcomes
Companies that use Bifrost
Customer profileSegments3 records
Ideal customer profiles3 records
Bifrost technology and API
TechnologyAPI detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
Feature8 records
Bifrost partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- BiFicoreBiFi is a multichain lending, staking, and liquidity pool mining platform that offers the first decentralized Bitcoin lending. It is part of the Bifrost ecosystem.
- BTCFicoreBTCFi is a CDP (Collateralized Debt Position) protocol that allows Bitcoin holders to use their BTC to mint BtcUSD, opening up new possibilities of asset utilization. Part of the Bifrost ecosystem.
- Pockie WalletcorePockie is a wallet application for connecting to the Bifrost Network. Ecosystem product providing wallet infrastructure for Bifrost users.
- HardhatcoreHardhat is an Ethereum development environment integrated with Bifrost Network for professional smart contract development.
- TenderlycoreTenderly enables Web3 developers to build, test, monitor, and operate smart contracts. Integrated with Bifrost ecosystem.
- MetaMaskcoreMetaMask, the leading crypto wallet and gateway to blockchain apps, supports Bifrost Network through manual network configuration.
- ChainlinkcoreChainlink decentralized oracle network integrated with Bifrost for providing external data to smart contracts.
- StratasysminorNote: This reference is about a separate company named Bifrost (service bureau) partnered with Stratasys for 3D printing qualification. Not related to Bifrost Network blockchain.
Scale indicators6 records
Recent moves5 records
Expansion highlights10 records
Bifrost competitors and assessment
Company assessmentEmerging players
- THORChain: THORChain is a decentralized liquidity network enabling native cross-chain swaps without wrapped assets. Comparable to Bifrost's Chainrunner multichain swap functionality and bridge services for BTC-anchored assets.
Direct peers
- Multichain (Anyswap): Multichain is a cross-chain router enabling asset and message transfers across many EVM and non-EVM chains. Comparable to Bifrost in providing bridge-and-call primitives for multichain DApp developers.
- LayerZero: LayerZero is an omnichain messaging protocol enabling smart contracts to communicate across chains. Highly comparable to Bifrost's CCCP in solving cross-chain interoperability with a developer-focused messaging primitive.
- Wormhole: Wormhole is a cross-chain messaging protocol with a guardian network connecting Solana, Ethereum, and many other chains. Comparable to Bifrost in providing both asset bridging and general cross-chain messaging for multichain DApps.
- Axelar: Axelar provides generalized cross-chain interoperability through its messaging protocol and bridge infrastructure connecting 30+ blockchains. Directly comparable to Bifrost's CCCP in offering native cross-chain communication and asset transfer for DApp developers.
- Moonbeam: Moonbeam is an EVM-compatible smart contract platform on Polkadot/Substrate with cross-chain integration via XCMP. Directly comparable to Bifrost as both are EVM-compatible Substrate-based chains targeting multichain DApp developers.
- Kava: Kava combines an EVM-compatible Cosmos chain with cross-chain interoperability. Comparable to Bifrost in offering Ethereum developer tooling with native cross-chain bridges and DeFi primitives.
Broad incumbents
- Cosmos (IBC): Cosmos's Inter-Blockchain Communication (IBC) protocol enables standardized cross-chain messaging between Cosmos SDK chains. Comparable to Bifrost's CCCP as a foundational interoperability protocol for heterogeneous blockchain networks.
- Polkadot: Polkadot's Substrate-based relay chain and parachain architecture (XCM) provide native cross-chain interoperability. Directly comparable substrate framework and cross-chain messaging infrastructure underpinning Bifrost's technology stack.
- Chainlink CCIP: Chainlink's Cross-Chain Interoperability Protocol leverages Chainlink's oracle network for cross-chain messaging and token transfers. Comparable to Bifrost CCCP at the messaging-protocol layer, with broader oracle infrastructure backing.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Bifrost social profiles
Digital presenceBifrost financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bifrost leadership team
Management profileNumber of profiles
Bifrost funding detail
Funding detailFunding overview
Funding rounds4 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bifrost M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bifrost
What does Bifrost do?
Bifrost operates a decentralized, EVM-compatible multichain Layer-1 blockchain (Bifrost Network) built on Substrate, offering native cross-chain interoperability via its Cross-Chain Communication Protocol (CCCP). It sells access to the network's infrastructure — including an integrated cross-chain bridge, native Bitcoin DeFi protocols (BiFi multichain lending and BTCFi CDP/BtcUSD), the Pockie multi-chain wallet, Chainrunner multichain swap technology, and developer tooling (Explorer, testnet faucet, governance) — and generates revenue primarily through transaction (gas) fees and bridge service fees.
Is Bifrost a public or private company?
Bifrost is a private company. It is currently operating.
When was Bifrost founded?
Bifrost was founded in 2018. It employs 11 to 50 people.
Where is Bifrost based?
Bifrost is headquartered in Seoul, South Korea, in the Asia region.
How does Bifrost make money?
Three revenue lines are on record. Transaction/Gas Fees are the primary driver. The others are bridge Service Fees and staking/Validator Operations.
Who are Bifrost's main competitors?
THORChain is listed as an emerging player. Direct peers are Multichain (Anyswap), LayerZero, Wormhole, Axelar, Moonbeam and Kava. Broad incumbents are Cosmos (IBC), Polkadot and Chainlink CCIP.
Does Bifrost have an API?
Yes. Bifrost provides EVM-compatible APIs including Ethereum API, Bifrost Precompiled Contracts, Pallet Interfaces, Client API, and Cross-Chain Transaction and Oracle API. The client API includes JSON-RPC endpoints (author, chain, childstate, debug, eth, grandpa, net, offchain, payment, rpc, state, system, trace, txpool, web3). Developers can build multichain DApps using standard Ethereum tooling compatibility (Web3.js, Ether.js, Web3.py) and Solidty libraries like OpenZeppelin. RPC URL: https://public-01.mainnet.bifrostnetwork.com/rpc, Chain ID: 3068.
What industry is Bifrost in?
Its primary akta.pro industry code is FSAPAKAA, Cross-Chain Messaging Protocols (general-purpose message passing), with a secondary code of FSAPAKAC, Liquidity Bridges & Cross-Chain Swaps (bridge aggregators, intent-based swaps). Its NAICS code is 5132 and its SIC code is 6200.