Bedrock, a multi-asset liquid restaking protocol, expands to Bitcoin with strong backers

General

Bedrock,
the
leading
multi-asset
liquid
restaking
protocol,
secures
fundraising
with
investments
aimed
towards
accelerating
its
liquid
restaking
solutions
and
spurring
further
growth.
The
investment
round
was
led
by
OKX
Ventures,
LongHash
Ventures,
and
Comma3
Ventures,
and
participated
by
Waterdrip
Capital,
Lbank
Labs,
Amber
Group,
ArcheFund,
Whale
Ground,
and
angel
investors
including
Fisher
Yu,
co-founder
of
Babylon.

Since
its
inception,
Bedrock
has
solidified
its
position
as
a
secure
LRT
player
offering
institutional-grade
services.
To
date,
Bedrock’s
combined
TVL
of
both
Ethereum
(uniETH)
and
IoTeX
(uniIOTX)
has
surpassed
$200
million.
More
recently,
Bedrock
has
offered
native
cross-chain
restaking
on
chains
including
Arbitrum,
Linea,
Scroll,
and
Manta,
and
is
continuously
expanding
to
more
chains
in
recent
weeks.

Bedrock
strives
to
remain
at
the
forefront
of
staking
innovation
by
offering
users
access
to
staking
on
Bitcoin.
As
the
first
protocol
built
natively
on
Babylon,
Bedrock
is
excited
to
disrupt
the
staking
innovation
with
the
next
phase
of
its
growth
on
liquid
staked
Bitcoin
(uniBTC)
where
it
will
be
introduced
in
anticipation
of
Babylon’s
mainnet
launch.
Users
can
now
earn
staking
rewards
while
maintaining
their
Bitcoin
liquidity
and
participating
in
other
DeFi
activities.

The
concept
of
earning
native
staking
rewards
from
restaking
while
contributing
security
to
the
ecosystem
has
led
to
rapid
adoption
of
Ethereum
restaking.
Bitcoin
Staking
can
potentially
replicate
this
success
to
solve
Bitcoin
capital
dormancy
and
PoS
chains’
capital
dependence
issues
with
the
untapped
idle
capital
of
over
$1
Trillion
in
2024.

About
Bedrock

Bedrock is
a
pioneering
liquid
restaking
protocol
in
the
decentralized
infrastructure.
It
started
with
uniETH,
its
institutional-grade
liquid
restaking
token
on
EigenLayer,
and
later
expanded
to
become
the
first
and
largest
liquid
staking
protocol
on
the
IoTeX
network
and
has
captured
a
cumulative
TVL
of
over
$200
million
to
date.
With
its
secure
technology,
Bedrock
has
expanded
to
multi-asset
restaking,
bringing
institutional-grade
infrastructure
to
the
masses.

About
Babylon

Babylon
is
a
blockchain
project
that
designs
security-sharing
protocols
for
the
decentralized
economy,
founded
in
2022
by
Stanford
Professor
David
Tse
and
Dr.
Fisher
Yu.
Professor
Tse
is
a
member
of
the
U.S.
Academy
of
Engineering
and
a
renowned
inventor
of
the
legendary
proportional-fair
scheduling
algorithm
for
wireless
communications.
Babylon
utilizes
its
three
primary
facets
of
Bitcoin
to
innovate
three
security-sharing
protocols:
Bitcoin
Staking
Protocol,
Bitcoin
Timestamping
Protocol,
and
Bitcoin
Data
Availability
Protocol.
Through
these
pioneering
protocols,
Babylon
envisions
a
more
secure
and
decentralized
future.