Bedrock
About
Bedrock is a multi-asset liquid restaking protocol that offers liquid restaking tokens (LRTs) for Bitcoin, Ethereum, and IoTeX. It enables users to stake assets while maintaining liquidity through uniTokens and access restaking yield from protocols like EigenLayer and Babylon. The platform provides a one-stop solution for generating sustainable yields across multiple blockchain networks.
Where Does Yield Come From?
Bedrock generates yield through several layers that work together. Users can stake their assets while keeping them usable through liquid tokens called uniTokens.
First, there's native staking yield from the original assets: Ethereum staking rewards, Bitcoin staking via Babylon, and IoTeX staking rewards.
Second, there are restaking rewards. For Ethereum, this includes rewards from EigenLayer (like EigenLayer points and possible future token distributions). For Bitcoin, restaking rewards come from Babylon.
Third, Bedrock's Proof of Staking Liquidity system (PoSL) gives extra rewards that adjust based on liquidity conditions. This ties providing liquidity directly into the restaking process.
Fourth, the Bedrock Diamond points system tracks user activity and hands out additional protocol rewards.
Fifth, there are potential future rewards from EigenLayer's Actively Validated Services (AVS) once they launch. These are additional services that validators help secure.
Sixth, BR token distributions reward people who provide liquidity and participate in the ecosystem.
The protocol uses a non-rebasing token model. Instead of receiving more tokens, your uniTokens (like uniETH, uniBTC, uniIOTX) increase in value as rewards accumulate. This happens through a flexible system that selects the best operators and services to maximize returns.
Audits
| Audit / Date | Findings | Verdict |
|---|---|---|
Blocksec16-12-2024 |
| Blocksec's audit found only one low-severity vulnerability in Bedrock's brBTC/brVault contracts, which was promptly fixed, indicating robust security posture with minimal residual risk. |
BlockSec30-10-2024 |
| The audit identified one high-risk cross-chain address error and four low-risk issues, all reportedly fixed in Version 2; however, the notes indicate residual design risks around centralization and assumptions about token pegs. |
PeckShield01-10-2024 |
| The audit found no critical or high severity vulnerabilities, with all identified issues promptly addressed, indicating the uniBTC protocol was well-engineered with minor improvements needed before deployment. |
BlockSec12-07-2024 |
| The audit found only a single low-severity precision issue and minor recommendations, indicating generally robust code security for the UniBTC contracts at the time of review, though centralization and peg risks warrant ongoing monitoring. |
PeckShield15-02-2024 |
| The audit found no critical or high severity issues, with all identified vulnerabilities addressed through fixes or mitigation plans, indicating a well-structured codebase with appropriate security improvements implemented. |
Backers
Bedrock has secured investment from several venture capital firms and angel investors. According to the official website, investors include OKX Ventures, longhash Ventures, Comma3 Ventures, WATERDRIP CAPITAL, ARCHE FUND, LBANK Labs, Whale Ground Crypto Fund, AMBER, and angel investor Fisher Yu (Co-Founder of Babylon).
The project's tokenomics reveal a seed investor allocation of 12.5% of the total $BR supply. In March 2026, a vesting schedule commenced with an initial unlock of 3.125% of total supply, followed by linear monthly vesting of 0.52% for 17 months. The team confirmed zero team/investor token unlocks during Year 1 of the $BR token (March 2025-March 2026), prioritizing community distribution first.
Legal
Legal form
Limited company (GOLDEN BULL ENTERPRISES LIMITED)
Registration jurisdiction
British Virgin Islands (Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola VG1110)
Status and notes
Privacy policy identifies the operating entity as GOLDEN BULL ENTERPRISES LIMITED registered in the British Virgin Islands. The privacy policy applies to this entity and other related/affiliated organizations that have adopted the policy.