LBank Labs Announces Strategic Investment in Bedrock to Revolutionize Blockchain Staking

Singapore, Singapore, May 2nd, 2024, Chainwire

LBank Labs is thrilled to announce its investment in Bedrock, a pioneering blockchain company that is transforming the staking landscape with its innovative Liquid Restaking Tokens (LRT), enhancing liquidity and value across PoS tokens like Ethereum and IoTeX.

The optimism surrounding Bedrock is largely due to Eigenlayer’s ability to enhance Ethereum’s idle liquidity and deliver superior ROI alternatives beyond traditional staking rewards. However, the sustainability of this surge in activity and the ecosystem’s capacity to manage such abundant liquidity remained uncertain until Bedrock emerged on the scene. To address these challenges, Bedrock has developed three strategic solutions:

1. Bedrock has successfully implemented the LRT solution on IoTeX, aligning with the prevailing trend of Depin.
2. They are proactively engaging with projects similar to Eigenlayer to augment the rewards in their restaking system.
3. Looking ahead, Bedrock plans to collaborate with cross-chain infrastructures to capitalize on additional rewards from various blockchain networks.

Furthermore, security is paramount in Web3, and it is critical for the success of any project. We are impressed with the team’s proven track record in asset management. Since 2017, they have established and operated RockX, a reputable staking pool, managing billions of assets securely.

Introduction to Bedrock

Bedrock is revolutionizing the blockchain sector with its state-of-the-art liquid staking solution, leveraging the innovative Liquid Restaking Tokens (LRT) to enhance liquidity and value for PoS tokens such as Ethereum and IoTeX. This initiative is designed to cater to institutional investors by providing a non-custodial, secure, and flexible staking platform.

Institutional Features, Security, and Partnership with RockX

Bedrock offers institutional-grade security features that enable users to unstake their assets with flexibility, ensuring liquidity without compromising on security. Partnering with RockX, a leader in blockchain infrastructure, Bedrock benefits from RockX’s management of over 13k validators and more than 420k ETH, with a total value locked (TVL) exceeding $1.2 billion. This collaboration enhances Bedrock’s robust security framework, making it a trusted platform for enterprise-level deployments.

Dive into Bedrock’s Liquid Restaking Tokens (LRT)

The LRT mechanism empowers users through uniETH, facilitating both native staking and strategic restaking via the Eigenpod. Managed by Bedrock’s staking contract, this system allows for optimal validator selection and yield strategies, ensuring high returns. Over time, uniETH tokens evolve into LRTs, marking a significant advancement in tokenomics that supports long-term investment strategies. It should be emphasized that due to the extremely in-depth cooperation with RockX, it not only supports turning uniToken into a native token through swap, but also supports “unstaking”.

Multi-Chain Capability and Re-Staking with Babylon

Bedrock’s platform is not limited to a single blockchain but supports various major chains, including Ethereum, IoTeX, and Bitcoin. This multi-chain functionality is augmented by a partnership with Babylon, which allows for innovative re-staking practices that optimize returns and enhance security across different blockchain ecosystems.

Operational Integrity and Deep Collaboration with Babylon

Bedrock is committed to operational authenticity and runs its own nodes, ensuring a stable and secure network. The deep and strategic partnership with Babylon not only enhances operational efficiencies but also embeds Bedrock within the blockchain industry as a reputable and reliable staking service.

As Bedrock continues to set new standards in blockchain staking, it invites investors and institutions to engage with its platform to realize the benefits of secure, innovative, and profitable staking solutions. For further information and to explore Bedrock’s unique offerings, please visit Bedrock’s official documentation.

About LBank Labs:

LBank Labs, with its $100M AUM, is renowned for its strategic investments in the blockchain and cryptocurrency space. Its portfolio boasts of innovative projects like Entangle, Puffer Finance, LunarCrush, Navi Protocol, Exabits, Hivello, and significant investments in VC funds such as Collab Currency, SevenX Ventures, IOSG Ventures, Blockchain Builders Fund, and more.

Contact

Wang
Eddy
LBank
eddy.wang@lbank.com