About Bedrock
Bedrock is a multiple-asset liquid restaking protocol, that is backed by a non-custodial solution designed in partnership with RockX, a longstanding blockchain infrastructure company with strong roots in crypto staking.
It’s the first protocol built on Babylon allowing users to enjoy liquid staked Bitcoin (uniBTC). Now they can earn staking rewards while managing their Bitcoin liquidity and participating in other DeFi protocols and strategies.
Source: Bedrock’s website
Bedrock supports different assets to do both restaking and staking including:
Source: Bedrock’s website
- uniBTC: a new restaking protocol that accepts wrapped BTC tokens in partnership with the BTC staking protocol Babylon. This is the first supported wrapped BTC wBTC token on the Ethereum blockchain, so all the wBTC token holders get yields on staking BTC tokens and the Ethereum network’s powerful security.
- uniETH: restake and use additional EigenLayer rewards with Bedrock bringing together institutional-grade security and additional yield to liquid staking ETH.
- uniIOTX: liquid staking on the IoTeX blockchain eliminating several drawbacks that exist with Delegated Proof of Stake on IOTX.
Bedrock LRT
The pivotal element of the Bedrock system, providing robust security and flexibility, is its modular-based architecture. With this adaptable modular design, Bedrock can seamlessly incorporate new technologies or changes.
Source: Bedrock docs
The Bedrock protocol is into a Liquid Restaking narrative thanks to the EigenLayer and Babylon protocol, which introduced liquid staking to the crypto economy. Bedrock supports Liquid Restaked Tokens (LRT’s) in the market and integrates DeFi to earn extra yields without compromising the fund security.
Why Liquid Restaking?
To answer this question, we should remember why the restaking narrative appeared in the DeFi economy. That started from staking which has many limitations when it comes to earning more crypto.
Source: Entangle
The major traditional staking pain points are:
- Technical knowledge of how to set up and operate to become a validator;
- 32ETH is a substantial sum for usual token holders to participate in POS validation;
- Staked tokens are locked up and turn into illiquid assets you can’t use anywhere else.
Liquid staking tokens keep the value that staked tokens hold and could be traded and used as collateral in other DeFi protocols ending up with an opportunity to grow and multiply one’s crypto capital.
How to Earn with Bedrock?
- Ethereum native staking yield accrued in uniETH
It’s a standard Ethereum native staking yield. To learn more — go to the uniETH section. - Eigenlayer restaked points and any future airdrops
Eigenlayer restaked points are rewards you get immediately after the Restaking upgrade. All the EigenLayer points are distributed to uniETH holders daily. - Potential rewards from restaking to AVS
The Eigenlayer AVS depends on the EigenDA, developed by EigenLabs. It will be the first actively validated service (AVS) to launch on EigenLayer. - Bedrock points and any future airdrops
To motivate Bedrock's uniETH holders, Bedrock launched a points system to manage and count all the potential rewards into this system. Find the rules here. - Participating in DeFi with Bedrock uniTokens
Bedrock has implemented multiple DeFi Protocols for uniETH, uniBTC, and uniIOTX across 12+ different chains including L2’s. Users can provide liquidity, lend, borrow uniTokens & more to earn an additional yield on top of their restaking yield. - Referral program
For users who were invited to join, there is a referral program at Bedrock, allowing you to earn continuous rewards, with a tiered structure that evolves according to your level of engagement with the protocol. You’ll find more information on that in Bedrock’s docs.
Bedrock Diamonds
Bedrock Diamonds are issued to reward users who actively contribute to the protocol's development. All participants in the Bedrock ecosystem get Diamonds, with the amount equal to the duration and nature of user engagement.
Rules
Users gain rewards for minting and holding uniETH or uniBTC in their wallets. This brings them Bedrock Diamonds per hour.
Source: Bedrock docs
On top of that, Bedrock introduces various ongoing campaigns with different partners in the Bedrock Ecosystem to deliver even more options for earning Dimonds.
Is Bedrock Safe?
Bedrock is a battle-tested protocol that went through the challenges of time, demonstrating everlasting stability, security, and reliability in its execution. All the Bedrock smart contracts are open-sourced, so anyone can check them by visiting GitHub.
Besides, all of Bedrock’s smart contracts are audited by credible firms and institutional partners:
- The audit report by Blocksec: https://github.com/Bedrock-Technology/uniBTC/blob/main/code%20audit%20blocksec.pdf
- The audit report by PeckShield: https://raw.githubusercontent.com/Bedrock-Technology/docs/main/PeckShield-Audit-Report-Bedrock-v1.0.pdf
The protocol will have re-audits to make sure it’s secure and trustworthy.
Q & A with Bedrock’s Team
Bedrock has 2 LRT and 1 LST. Are you going to launch more tokens?
We're always exploring opportunities to expand our token offerings in alignment with our ecosystem's needs. While I can't share specific details just yet, we're certainly looking at ways to introduce more tokens that add value to our users and partners. With two of the largest tokens, ETH and BTC, already supported, we’re positioned to propel the broader crypto ecosystem forward, and any new tokens will further strengthen this momentum.
Where can I find all projects/pools that participate in the Bedrock Diamonds campaign?
You can find all participating projects and pools on our Bedrock Discover Page. This page is regularly updated with the latest pools and projects involved, so you always have access to the most current information.
Do uniBTC holders earn Babylon points?
Yes, uniBTC holders can earn Babylon points as part of our ongoing collaborations with Babylon Chain. This integration is designed to maximize rewards for our community members. Once Babylon Points has been officially launched, uniBTC will fully support this.
uniETH and uniBTC boosts differ dramatically. Why is it so?
The boosts for uniETH and uniBTC differ due to the varying demand, liquidity, and strategic partnerships associated with each token. Additionally, 1 BTC is worth substantially more than 1 ETH at the moment. Our goal is to balance these factors to ensure the sustainability and growth of both ecosystems.
The Diamond Dashboard seems to be displaying incorrect values. Will it be fixed soon?
The diamond dashboard is continuously being improved upon as more DeFi integrations are added in. Our development team requires a few days/week to display the correct amount of diamonds from certain integrations right after they are launched. Rest assured that diamonds are constantly being accrued in the background.
Will Bedrock support any new chains in the future?
Absolutely. We’re committed to expanding our multi-chain support and are currently exploring integrations with several new chains. We already support 6 different chains for uniETH and another 6 for uniBTC. Stay tuned for more news on this.
You haven’t said much about the token, but what will it be and how will it be used?
While we can’t disclose all the details just yet, our upcoming token will play a crucial role in our ecosystem, offering utility across governance, staking, and rewards distribution. We’ll share more information as we get closer to the launch. We’re working hard on providing as much value as possible to the token to provide the best type of reward system to the Bedrock Community.
Can you share with us any plans for upcoming incentive collaborations?
We have several exciting incentive collaborations lined up with key DeFi platforms. These will include unique rewards and boosted yields designed to benefit our community and attract new users.
What are the most important milestones you expect to pass shortly?
In the near term, we’re focused on reaching significant TVL milestones, launching new strategic partnerships, and rolling out enhancements to our platform’s usability and rewards system. These steps are critical as we continue to grow and deliver value to our users.
Final Thoughts
Bedrock is a liquid restaking protocol that kickstarted with uniETH, its liquid restaking token on EigenLayer but quickly became the first and largest liquid staking protocol on the IoTeX network.
Its secure and robust technology Bedrock has exposed to multi-asset restaking to meet mass adoption and the latest DeFi narratives. Bedrock has native cross-chain restaking on Arbitrum, Linea, Scroll, and Manta, and it’s continuously adding more chains to collaborate with.