Multi-asset liquid restaking protocol Bedrock announced a partnership with the Binance Web3 wallet to launch a new feature that allows users to restake Bitcoin and earn rewards with uniBTC. This campaign is currently active and is scheduled to conclude on August 7th.
Users need to connect their Binance Web3 Wallet to Bedrock before pre-staking their chosen wrapped BTC token by minting uniBTC. By doing so, they will receive a 3x boost on the 21 Diamonds per hour for each uniBTC held. This results in a total of 63 Diamonds per hour for each uniBTC in their Binance Web3 Wallet, plus any additional rewards from Babylon staking.
The minimum amount of wrapped BTC needed to participate in staking is 0.0001 BTC. Users will receive their boosted Diamonds within two weeks after the campaign concludes.
In order to participate, users should access the Binance Web3 Wallet, go to the “Discover” section, and select “Exclusive Airdrop” to locate the Babylon Staking Campaign page. Next, they need to find Bedrock in the list and click “Stake Now.” When the page loads, users should select the “uniBTC” option from the menu bar at the bottom of the screen, which will then prompt them to connect their wallets.
After connecting their wallet, users must choose the type of BTC to stake and its corresponding network. Currently, Bedrock supports multiple types of wrapped BTC across various networks, including wBTC and FBTC for Ethereum, wBTC for Optimism, BTC and wBTC for Bitlayer, BTC and wBTC for the B2 Network, and BTC and MBTC for Merlin Chain.
Next, individuals need to enter the amount of BTC they wish to stake, click the approve button, and follow the instructions to approve and stake the assets. A confirmation screen will then appear, and users should click “Stake” once more to finalize the process.
Earn rewards on top of rewards with $uniBTC x @Web3WithBinance for restaking #Bitcoin
63 Diamonds per hour per uniBTC held
BTC staking rewards
Min 0.0001 BTC stake
Campaign duration: 1 week
Learn more: https://t.co/TyG27wAnao pic.twitter.com/Q2bhDrXOf0
— Bedrock | Bitcoin Restaking LIVE (@Bedrock_DeFi) August 1, 2024
Bedrock Unveils uniBTC, Offering Restaking Solution For wBTC On Ethereum
Bedrock represents a multi-asset liquid restaking protocol backed by a non-custodial solution developed in collaboration with RockX, a well-established blockchain infrastructure firm with a strong background in cryptocurrency staking. It supports uniBTC, uniETH, and uniIOTX assets for both restaking and staking activities.
It introduced uniBTC in May of this year as the first BTC liquid staking protocol based on the Bitcoin staking solution, Babylon Chain. uniBTC offers a restaking solution for wBTC tokens on Ethereum, allowing holders to receive multiple yields without needing to redeem their BTC.
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