What is Bedrock (BR)?
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🟢 The simple version
Plain English — no jargon. Start here.
Bedrock is a multi-asset liquid restaking protocol that lets you deposit ETH, WBTC, or other assets to earn staking rewards plus EigenLayer restaking yield — in exchange for liquid receipt tokens (uniETH, uniBTC) you can use in DeFi while your assets remain staked.
What is restaking and why does it matter?
Regular ETH staking secures Ethereum and earns ~3–4% APY. EigenLayer's restaking allows those same staked ETH to simultaneously secure other protocols (called Actively Validated Services, or AVS) — earning additional yield on top. Think of it as your security deposit doing double duty: same collateral, multiple yield streams.
Bedrock is a liquid restaking protocol (LRT) built on top of this. Instead of restaking directly (which locks your ETH), you deposit into Bedrock and receive liquid tokens: uniETH (for ETH restaking) or uniBTC (for WBTC restaking). These liquid tokens can be used in DeFi — as collateral, in liquidity pools — while the underlying assets earn restaking yield.
What makes Bedrock different: multi-asset support
Most liquid restaking protocols are ETH-only. Bedrock is notable for supporting WBTC restaking via uniBTC — bringing Bitcoin holders into the restaking yield ecosystem without selling BTC. This multi-asset approach differentiates Bedrock from EtherFi, Renzo, and Swell, which focus exclusively on ETH/LSTs.
Is BR legal in India?
Yes. BR qualifies as a Virtual Digital Asset (VDA) under Indian law. 30% tax on gains and 1% TDS applies. Always consult a tax professional.
🟡 A bit more detail
For when you want to go a little deeper.
uniBTC — Bitcoin restaking explained
uniBTC is Bedrock's liquid restaking token for WBTC (Wrapped Bitcoin). When you deposit WBTC into Bedrock, you receive uniBTC at a 1:1 ratio. Bedrock deploys the WBTC into restaking protocols that accept BTC-backed collateral for AVS security. In return, you earn restaking yield in BR tokens plus underlying staking rewards, while uniBTC remains tradeable and usable as DeFi collateral.
The concept extends Bitcoin yield from the traditional "hold or lend" binary. BTC holders who were previously limited to Aave/Compound lending yields (~1–3%) can now access restaking yield (~4–7% combined) while retaining DeFi composability. The risk is that WBTC itself is custodial (Wrapped BTC is managed by BitGo), adding a centralisation layer that native ETH staking doesn't have.
Restaking adds slashing risk on top of base staking risk. If an AVS misbehaves (or Bedrock's smart contracts are exploited), your restaked collateral could be slashed — a risk that doesn't exist for simple ETH staking. The higher yield reflects this additional risk. Research the specific AVS protocols Bedrock deploys to before depositing large amounts. Live data: CoinGecko
Bedrock vs EtherFi vs Renzo
EtherFi is the largest ETH liquid restaking protocol by TVL, with eETH deeply integrated into DeFi. Renzo focuses on operator delegation strategies for EigenLayer. Bedrock's edge is multi-asset: it's the primary way to restake WBTC without selling Bitcoin. For pure ETH restaking, EtherFi has a larger ecosystem and deeper liquidity. Bedrock is the choice for BTC-holders wanting restaking yield without exiting their BTC position.
🟣 The full technical picture
For the technically curious.
Key facts
- Token: BR (governance + fee sharing)
- Type: Multi-asset liquid restaking protocol
- uniETH: Liquid restaking token for ETH
- uniBTC: Liquid restaking token for WBTC — unique multi-asset feature
- Built on: EigenLayer (ETH AVS restaking)
- Key differentiator: Supports WBTC restaking, not ETH-only
- vs EtherFi: EtherFi has deeper ETH ecosystem; Bedrock uniquely supports BTC
- vs Renzo: Renzo is ETH-focused; Bedrock multi-asset
- Risk: AVS slashing risk stacked on top of base staking risk
Yield sources for uniETH holders
Depositing ETH into Bedrock earns yield from three sources stacked: (1) Ethereum consensus layer rewards (~3–4% APY from Ethereum staking); (2) EigenLayer restaking rewards from AVS protocols that pay for using Bedrock's restaked ETH as security; and (3) BR token incentives distributed to depositors. The actual net APY fluctuates with AVS demand and BR token price. The first layer (ETH staking) is the most reliable; EigenLayer restaking rewards and BR incentives are more variable and dependent on ecosystem growth.