Bedrock (BR): Next-level liquid staking across multiple cryptos

As the crypto market evolves, innovative staking solutions are becoming increasingly important for users seeking to maximize their digital asset potential. Bedrock (BR) has emerged as a pioneering protocol, offering next-level liquid staking across multiple cryptocurrencies.

This article explores Bedrock's unique approach to liquid restaking, its supported assets and the powerful technology that makes it possible. Whether you're an experienced crypto enthusiast or just entering the market, understanding Bedrock's capabilities can help you navigate the growing world of yield-generating opportunities.

Key Takeaways:

• Bedrock is a multi-asset liquid restaking protocol that enables users to earn yields across multiple blockchain networks while maintaining liquidity through noncustodial solutions backed by infrastructure provider RockX.

• Looking to trade Bedrock tokens? Bybit now offers the BR/USDT Spot trading pair and BRUSDT Perpetual contract.

What is Bedrock?

Bedrock is a multi-asset liquid restaking protocol that enables users to earn yields across multiple blockchain networks while maintaining liquidity through noncustodial solutions backed by infrastructure provider RockX.

History of Bedrock

Bedrock was initially launched in March 2023 by RockX, a company with extensive experience in blockchain infrastructure and staking services. Founded with the vision of bridging the gap between traditional finance and decentralized finance (DeFi), Bedrock was designed to strike a balance between security, compliance and the flexibility of DeFi.

The protocol began by supporting Ethereum liquid staking, introducing uniETH, a non-rebasing reward-bearing token. Since then, Bedrock has expanded its capabilities to support multiple assets across different blockchain networks.

In 2024, Bedrock attracted substantial investment from leading crypto firms, including OKX Ventures, LongHash Ventures and Comma3 Ventures. Waterdrip Capital, LBank Labs and Amber Group also participated in the funding round, propelling Bedrock's expansion and development in the liquid restaking sector.

What does Bedrock aim to achieve?

Bedrock seeks to transform the staking ecosystem by addressing critical gaps in current platforms as follows.

1. Solve the liquidity problem: Traditional staking locks assets for extended periods. Bedrock's liquid staking enables users to stake assets while maintaining liquidity, allowing participation in other DeFi opportunities.

2. Optimize yields through multi-asset support: Bedrock's cross-chain approach allows users to access rewards simultaneously across multiple blockchain networks, significantly enhancing potential returns.

3. Simplifying staking complexity: Bedrock creates a unified, user-friendly interface that simplifies staking across blockchains for institutional and retail investors.

4. Enhancing security: Bedrock employs on-chain calculations for validator balances and rewards, eliminating reliance on potentially vulnerable external oracles.

By addressing these four challenges, Bedrock creates a more accessible staking ecosystem in which users can earn sustainable yields across multiple assets without sacrificing security or liquidity.

How does Bedrock work?

Bedrock operates via a modular infrastructure that supports multiple assets and integration with various staking protocols. The system allows users to deposit their crypto assets in exchange for "uni" standard tokens (such as uniETH, uniBTC or uniIOTX), representing the staked assets and all future staking rewards.

Unlike traditional rebasing tokens that increase in quantity over time, Bedrock's tokens grow in value. As staking rewards accumulate, one uniETH becomes worth more than one ETH. Bedrock’s non-rebasing model simplifies accounting, and makes interaction with other DeFi protocols more seamless.

For Ethereum staking, Bedrock integrates with EigenLayer to enable restaking, allowing users to earn additional rewards beyond basic staking by supporting multiple network services. With Bitcoin, Bedrock works with Babylon to enable BTC holders to participate in staking for the first time — opening a new frontier for the trillion-dollar asset.

The protocol employs smart contracts to manage staking processes, validator operations and reward distribution. Bedrock has eliminated reliance on oracles for security, instead using on-chain data to calculate validator balances and staking rewards. This approach reduces vulnerability to external attacks and/or data manipulation.

Multi-asset liquid staking of Bedrock

One of Bedrock's key innovations is its support for multiple cryptocurrencies within a unified staking ecosystem. This multi-asset approach allows users to diversify their staking portfolios across various blockchain networks while simultaneously accessing enhanced yields through restaking mechanisms.

uniETH

As Bedrock's liquid restaking token for Ethereum, uniETH is designed to natively restake and harness additional EigenLayer rewards. It combines institutional-grade security with enhanced yield potential from EigenLayer’s ecosystem.

When staking ETH with Bedrock, users receive uniETH tokens representing their staked ETH and future rewards. Unlike rebasing tokens, uniETH grows in value (rather than quantity) over time to improve compatibility with other DeFi protocols and simplify the user experience.

Through EigenLayer integration, uniETH holders earn base Ethereum staking rewards and additional yields from Actively Validated Services (AVS), such as EigenDA and Espresso Systems. Bedrock employs a noncustodial approach, with smart contract–controlled withdrawal credentials and an oracle-less system that relies upon on-chain data for enhanced security.

brBTC

Bedrock BTC (brBTC) is designed for Bitcoin holders seeking next-generation DeFi opportunities. As Bedrock's flagship Bitcoin liquid restaking token, it serves as a gateway to BTCFI 2.0, an ecosystem of yield-generating strategies for Bitcoin.

The token accepts uniBTC and multiple Wrapped BTC (WBTC) assets, with Bedrock managing these across trusted yield sources, including Babylon, Kernel, Pell Network and SatLayer. This diversification mitigates risk while maximizing returns for Bitcoin holders.

The primary advantage of using brBTC is that of yield diversification through intelligent asset allocation. Connecting to multiple restaking protocols simultaneously delivers enhanced returns while lowering the entry barrier for Bitcoin holders seeking sophisticated DeFi strategies. 

uniBTC

uniBTC is a specialized restaking protocol that accepts WBTC tokens in partnership with Babylon chain. The first supported token is WBTC on Ethereum, allowing holders to earn staking yields while maintaining Ethereum network security.

Through Babylon's approach, uniBTC bridges Bitcoin's value with proof of stake (PoS) yield potential, addressing both Bitcoin's capital dormancy and PoS chains' need for security backing. The protocol features fully slashable security, whereby 1/3 of the Bitcoin stake is guaranteed to be slashed during safety violations.

uniBTC maintains staker security and liquidity in order to enable Bitcoin holders to withdraw funds, provided they follow protocol rules. By enabling staking without transferring ownership, uniBTC preserves Bitcoin's security principles while creating new yield opportunities previously unavailable to BTC holders.

uniIOTX

uniIOTX is Bedrock's liquid staking solution for the IoTeX blockchain. It’s designed to overcome several limitations of the traditional delegated PoS mechanism on IoTeX. As the first and largest liquid staking protocol on the IoTeX network, uniIOTX has established Bedrock as a key player in this ecosystem.

Like other Bedrock tokens, uniIOTX follows the non-rebasing model, meaning its value (rather than the quantity of tokens) increases over time. This approach simplifies integration with other DeFi applications, and improves the user experience.

The unilOTX token represents both the staked IOTX and all future staking rewards, thus allowing users to maintain liquidity while earning staking yields. By removing barriers to entry and exit in the IOTX staking system, uniIOTX enhances capital efficiency and accessibility for IOTX holders.

BR tokenomics

BR is the native governance and utility token of the Bedrock ecosystem. It’s designed to align stakeholder incentives while driving protocol growth, and supports holders in voting on proposals affecting the protocol's direction, including supported assets and fee structures.

Distribution of the BR token allocates 5.5% to early supporters during the token generation event (TGE), with the remaining portions for community airdrops, ecosystem growth, team members (with vesting) and liquidity incentives. Individual wallet allocations are capped at 0.4% during airdrops to prevent concentration.

BR maintains value through multiple mechanisms. Users can lock tokens for veBR to reduce circulating supply, protocol revenue funds regular buybacks, and seasonal governance resets to encourage ongoing participation. This balanced approach creates a tokenomics model that’s focused on sustainable growth and fair distribution while it controls inflation.

Where to buy BR

Looking to trade Bedrock tokens? Bybit now offers the BR/USDT Spot trading pair and BRUSDT Perpetual contract. To get started, you'll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the BR/USDT Spot trading page or BRUSDT Perpetual contract page.

Is BR a good investment?

While BR demonstrates strong fundamentals in the liquid staking space, investors must carefully consider its growth potential and risk factors before making investment decisions.

Growth potential

• Operates in the rapidly growing liquid staking sector, with exponential user adoption

• Multi-asset support provides a competitive advantage across different blockchain ecosystems

• Has strategic partnerships with established projects such as Babylon, and integration with EigenLayer

• Battle-tested protocol, with over a year of successful operation and significant TVL

• Noncustodial approach enhances security, while maintaining flexibility for users

• Oracle-less architecture reduces vulnerability to external attacks and data manipulation

Risk factors

• The increasingly competitive liquid staking market has numerous protocols vying for market share

• Regulatory uncertainties surrounding staking services could impact growth trajectory

• Dependency on partner protocols like EigenLayer and Babylon for specific yield opportunities

BR shows promising potential with its multi-asset approach and institutional-grade security features. However, potential investors should conduct thorough research and consider their individual risk tolerance before investing, particularly given the innovative nature of liquid restaking technology.

Closing thoughts

Bedrock's multi-asset liquid restaking mechanism addresses traditional staking limitations by maintaining liquidity while enhancing yields across Ethereum, Bitcoin and IoTeX. With battle-tested security and strategic partnerships, Bedrock offers a practical solution for yield-seeking crypto holders in today's evolving DeFi market.

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