Bedrock's multi-asset liquid restaking protocol offers a decentralized, secure, and transparent staking experience for DeFi and CeFi users, enabling restaking of assets like ETH, BTC, and IOTX to earn higher yields. It's using a universal standard to unlock liquidity in Proof of Stake tokens through its innovative uniToken model and validator cluster.
Description
Here’s how it works:
- Multiple Asset Restaking: Bedrock enable users to restake different assets such as ETH, BTC, and IOTX to earn more yield on top of them.
- Universal Standard: Bedrock employs its universal (uni) standard to unlock liquidity and maximize value in Proof of Stake tokens and assets like wBTC, ETH, and IOTX, using existing liquid staking tokens such as uniBTC, uniETH, and uniIOTX, respectively.
- uniToken Model: This represents staked PoS tokens and future staking rewards. Non-rebasing token model, means that it does not grow in quantity over time but grows in value instead. This means that 1 uniETH/uniIOTX becomes worth increasingly more than 1 ETH/IOTX over time, in addition to points accrued from EigenLayer and Bedrock.
- Validator Cluster: Manages Ethereum validators to secure the network and earn staking rewards. Launched in early 2023, it is the core of the Bedrock system.
In summary, Bedrock has developed a Restaking protocol that lets you benefit from boosted rewards for staking BTC, ETH, and other tokens through their universal Liquid Staking Token standard.