Written by: Deep Tide TechFlow
Recently, top cryptocurrency research institution Messari released the annual report (The Crypto Theses 2025), conveying a positive attitude towards the prospects of Bitcoin in 2025: BTC will mature as a global asset.
BTCFi has become a popular narrative for 2025.
When discussing the current landscape of BTCFi, it is crucial to note that liquid staking aimed at providing BTC holders with more capital-efficient native yields is an important segment that cannot be overlooked.
With the recent launch of the latest BTC LRT product brBTC and the approaching TGE of the token, the multi-chain multi-asset liquid staking protocol Bedrock has further entered the public eye.
According to reports, in the latest round of financing in May this year, Bedrock attracted support from well-known institutions and industry leaders such as OKX Ventures, LongHash Ventures, Comma3 Ventures, and Babylon co-founder Fisher Yu.
On this important occasion, we had an in-depth conversation with Bedrock core contributor Zhuling.
In the conversation, Zhuling, who is very good at peeling back layers from a global perspective, introduced us to Bedrock's overall product planning in the BTCFi field:
uniBTC is the pioneering BTC LRT asset based on the Babylon narrative in the BTCFi 1.0 era. The uniBTC Vaults, which are dedicated to providing users with a simple and intuitive yield acquisition channel, represent our strategic upgrade to BTCFi 1.0. The recently launched brBTC, as a pioneering product of the BTCFi 2.0 era, represents our deep thinking about the future of finance.
When discussing expectations for 2025, Zhuling did not hide his optimistic attitude towards BTCFi:
Having witnessed Bitcoin breaking the $100,000 mark, we believe this is an important signal for the true start of the bull market, and BTCFi will soon enter a new phase, which we define as BTCFi 2.0.
As for brBTC, Zhuling also detailed its important position in the overall planning of Bedrock BTCFi 2.0:
True yield diversification is the core advantage of brBTC. Through intelligent dynamic asset allocation strategies, it not only brings users higher quality returns but also lowers the participation threshold, helping BTCFi achieve scalable development.
Read the full text to learn more about the exciting content of the dialogue.
BTCFi 2.0 is accelerating, and Bedrock, the leader in the liquid staking track, has core advantages.
TechFlow: I am very pleased to have the opportunity to engage in a deep conversation with you. First, please introduce yourself (you can share some past educational experiences, work/startup experiences, and how you became involved with Bedrock, etc.).
Zhuling:
Hello everyone, I am Zhuling, a core contributor of Bedrock, and I am very glad to have this opportunity to communicate deeply with you.
As a technical expert with an overseas engineering background, I have deeply participated as a consultant in several innovative projects for central banks and financial institutions. Based on a strong interest in cutting-edge technology and innovative business opportunities, I joined an overseas blockchain startup team and have continuously participated in the design and development of a hardcore public chain.
My first encounter with staking yields originated from the birth of the first generation of PoS public chains, where I saw a unique and innovative yield model within the blockchain. Staking yields are akin to government bonds and represent the most native yields of blockchain.
In the past five years, I have been deeply involved in staking services for mainstream public chains such as Ethereum and witnessed Ethereum's historic transition from PoW to PoS. I believe that in the current blockchain ecosystem, financial applications dominate, and staking yield, being a purely on-chain native yield, has become a core pillar of DeFi.
Therefore, at the beginning of this year, I joined the Bedrock project as an early contributor. This project aims to integrate the three most promising asset categories in the current blockchain field: Bitcoin (BTC), Ethereum (ETH), and DePIN (IOTEX), releasing their inherent value through innovative liquid staking mechanisms.
TechFlow: The liquid staking track is crowded, but Bedrock is still among the leaders. Therefore, could you share with everyone the impressive achievements of Bedrock and key data from the past?
Zhuling:
Overall, Bedrock's TVL is approximately $508 million, with more than 114,000 staking users. Specifically, since it is a multi-chain, multi-asset liquid staking protocol, Bedrock's past achievements can be sorted out from different ecosystem dimensions.
First is the Ethereum ecosystem. A year ago, Bedrock launched uniETH as an institutional-level liquid restaking token based on EigenLayer. uniETH is the only protocol in ETH that only supports native ETH and implements a full-process smart contract. From day one of its launch, uniETH supported unstaking, and all smart contracts have undergone multiple security audits, aiming to help users choose the best validation nodes and obtain the best returns. Currently, the staking volume of uniETH exceeds 29,010 ETH, with nearly 10,000 staking users.
Subsequently, Bedrock also launched uniIOTX, which quickly developed into the largest staking entry on IOTX, with a staking volume of nearly 450 million IOTX and nearly 15,000 staking users.
This summer, Babylon's emergence has shown us the value of BTCFi, and the liquid staking Bitcoin uniBTC launched in technical cooperation with Babylon is a key layout for Bedrock in the Bitcoin ecosystem.
When discussing the impressive data achieved by Bedrock in the past, deep cooperation with the Babylon ecosystem is an unavoidable topic. Currently, Babylon staking has undergone three phases. In the Cap-1 phase of Babylon staking, Bedrock (ROCKX) emerged as a dark horse in this competition for quotas, staking the most BTC and occupying nearly 30% of the total initial staking amount of Babylon.
The success of Cap-1 did not stop us from thinking; instead, we observed many user-level pain points, such as the severe compression of participation rewards for Babylon staking users. Therefore, in the Cap-2 phase of Babylon staking, Bedrock has done a lot of work to ensure that BTC stakers receive the highest Babylon points. Of course, the results were quite good; Bedrock stakers received and distributed a total of 5,854 Babylon points during this phase, ranking first among Bitcoin staking protocols. This strategy, which starts from maintaining users' interests, has also received widespread positive feedback from the community.
In the recently concluded Cap-3 phase of Babylon staking, whether in terms of TVL or Holder data, Bedrock still demonstrated strong performance. However, with the development of the Bitcoin ecosystem, we gradually realized that BTCFi should have more deepening development possibilities beyond Babylon. Under a series of market catalysts, including Bitcoin breaking the $100,000 mark, we sense that BTCFi 2.0 is accelerating, and there is still much we can do. Therefore, while participating in Cap-3 staking, Bedrock's work focus is more on the new LRT product brBTC, aiming to provide BTC users with better yield strategies.
TechFlow: In your opinion, what unique advantages does Bedrock have compared to other competitors in the field, which have contributed to its success?
Zhuling:
First of all, I believe that Bedrock's greatest differentiating advantage compared to other liquid staking projects lies in its special positioning. As an industry-leading multi-asset Restaking protocol, Bedrock is dedicated to providing users with comprehensive staking solutions, aiming to redefine the future of digital asset staking.
Secondly, the impressive data Bedrock has achieved so far is inseparable from the resource support provided by our project background, including deep cooperation with ROCKX and Babylon.
As we all know, Bedrock emerged from RockX. As a blockchain platform that has been deeply involved in the staking sector since 2019, RockX has a total staking value of over $2 billion and more than 150,000 registered users.
As one of the first projects to enter the BTC Restaking track and a pioneer in the Babylon ecosystem, Bedrock has excellent endorsements and resource support. In May this year, Bedrock received investment support from well-known institutions and industry leaders such as OKX Ventures, LongHash Ventures, Comma3 Ventures, and Babylon co-founder Fisher Yu, and subsequently reached a technical cooperation with Babylon, rapidly developing within the Babylon ecosystem.
Positioning and resource support are important, but the inherent strength of the product itself is also very important. The core design philosophy of Bedrock's products is to put users first, understanding user needs to refine products iteratively, and continuously exploring product and technology development. We oppose the notion that BTCFi is solely a game for big players; we have always been committed to bringing more users into BTCFi, promoting large-scale adoption of BTCFi, and providing them with more convenient entry points, diverse usage scenarios, and simplified and optimized yield strategies. For example, uniBTC is the BTC LRT with the broadest and most comprehensive DeFi user scenarios, supporting 13 chains and over 30 DeFi scenarios, while providing users with APY yields of up to three digits, and has also received high praise from the community in the market.
Last but very importantly, Bedrock is committed to building a complete ecosystem through a diversified product portfolio, including uniETH, uniIOTX, uniBTC, uniBTC vaults, and brBTC, continuously constructing a more open and efficient digital asset staking ecosystem, providing users with higher quality staking services and richer application scenarios.
From uniBTC to brBTC, a panoramic view of Bedrock's BTCFi planning
TechFlow: In 2023, when the enthusiasm for the Bitcoin ecosystem narrative was just beginning, Bedrock had already begun to focus on BTCFi. How did you and your team keenly perceive this trend? How do you personally view the current status and future prospects of BTCFi?
Zhuling:
Although the Bitcoin ecosystem narrative just emerged in 2023, we believe that 2024 will be the true inaugural year for BTFCi. In this year, we will see many concepts of the Bitcoin ecosystem truly start to take shape, such as the Ordinal and Rune craze.
By the second half of 2024, the market will welcome the full bloom of BTCFi, including the rise of sub-narratives such as Restaking / Lending / BTC L2 / BTC Stables. The Babylon ecosystem has led everyone to achieve the first phase of success in BTCFi; at this stage, I believe everyone will no longer say that Bitcoin does not need an ecosystem.
At the same time, we also believe that having witnessed Bitcoin breaking the $100,000 mark, we see this as an important signal for the true start of the bull market. BTCFi will soon enter a new phase, which we define as BTCFi 2.0.
Entering 2025, BTCFi will showcase more surprising performances, and based on our observations, the relevant trends of BTCFi are becoming obvious:
On one hand, BTC holders can have more sustainable, stable, and diverse yield strategies;
On the other hand, the entry threshold for BTCFi will be lower, not only is the participation process simplified, but the flexibility for users to participate is also higher;
Most importantly, the competition in the future BTCFi track will no longer be dominated by one player, but rather involve closer cooperation among everyone as they optimize and develop further.
This is our relevant judgment on the market, and in the future, Bedrock will continue to work on these aspects.
TechFlow: Based on your deep involvement in the staking track and your observations of the Bitcoin ecosystem, what is Bedrock's overall vision and product planning for BTCFi?
Zhuling:
In the current market environment, we have observed that users' demands for BTCFi products are undergoing profound changes, from initially pursuing simple yields to now considering sustainability, innovation, and ecological value in BTCFi products. This shift marks the entire industry's move towards a more mature development stage.
BTCFi is not just an emerging track; it is an inevitable choice in the evolution of the Bitcoin ecosystem. It will become an important link connecting traditional Bitcoin holders with the next generation of financial innovation, opening a new era of Bitcoin value release.
Looking ahead to 2025, we firmly believe that BTCFi will usher in a qualitative leap, officially entering the 2.0 era. This will not only redefine the development trajectory of BTC L2 but also inject revolutionary innovative power into the stablecoin system and staking economy, ultimately constructing a more inclusive and scalable Bitcoin financial ecosystem.
As a pioneer and explorer in the field of BTCFi, Bedrock always adheres to the core philosophy of 'connecting, innovating, and empowering', dedicated to building a bridge that connects the native value of Bitcoin with future financial innovations. We not only need to accurately grasp user needs but also stand at the commanding heights of industry development to lead the future direction of BTCFi.
Based on this vision, we have built a comprehensive product matrix:
uniBTC: As a pioneering BTC LRT asset based on the Babylon narrative, uniBTC redefined the Bitcoin yield ecosystem. This is not only a milestone product for Bedrock in the BTCFi 1.0 era but also our perfect answer during the Babylon era, gaining widespread recognition and trust from users.
uniBTC Vaults: This is our strategic upgrade to BTCFi 1.0, achieving smart liquidity optimization across ecosystems by creating a one-stop yield aggregation platform. This product subverts the complex operational model of traditional DeFi and provides users with a simple and intuitive yield acquisition channel.
brBTC: As a pioneering product of the BTCFi 2.0 era, brBTC represents our deep thinking about the future of finance. It not only integrates diversified Bitcoin derivative assets and restaking protocols but also builds a truly cross-chain value network through innovative economic model design. Through dynamically optimized asset allocation strategies and diverse financial application scenarios, brBTC is reshaping the future landscape of Bitcoin finance.
It can be said that our strategic layout for BTCFi is already very clear, and what we need to do next is to present higher quality products and continuously optimize products based on community feedback.
TechFlow: According to your previous introduction, brBTC is a key layout for Bedrock in the BTCFi 2.0 phase. Could you provide us with more detailed information and planning for brBTC? What are its unique advantages? How will brBTC interact with uniBTC and the broader ecosystem in Bedrock BTCFi's overall planning?
Zhuling:
From the perspective of product evolution, uniBTC and uniBTC Vaults, as our core products of the BTCFi 1.0 era, successfully created the first bridge for users to enter the Bitcoin financial world. The launch of brBTC marks our official entry into the BTCFi 2.0 era. In the first phase, brBTC will launch on Ethereum and BNB Chain. In the second phase, it will support more chains to further expand the coverage and accessibility of brBTC.
True yield diversification is the core advantage of brBTC. Through intelligent dynamic asset allocation strategies, it not only brings users higher quality returns but also lowers the participation threshold, helping BTCFi achieve scalable development.
Specifically, the yield structure of brBTC mainly consists of two core components.
First is a diversified restaking yield system:
The most distinctive source of yield for brBTC is its innovative multi-protocol restaking mechanism. We have established strategic partnerships with the most powerful restaking protocols in the industry, including Babylon, Kernel, Symbiotic, Mellow, Pell, and SatLayer. This not only ensures the diversity and stability of yields but is more importantly a solid foundation for the subsequent introduction of more high-quality restaking protocols, allowing brBTC holders to continuously enjoy the yield dividends brought about by ecosystem expansion.
Secondly, the diversified yield of brBTC comes from innovative DeFi yield strategies:
brBTC innovatively adopts a flexible combination strategy for on-chain DeFi yields. Continuing the mature yield logic of uniTokens, we have created a comprehensive DeFi ecosystem. Users can freely combine various DeFi protocols (such as DEX, lending, etc.) according to their personal risk preferences, achieving personalized yield customization. This innovative strategy not only guarantees basic yields but also provides more possibilities for users pursuing high yields.
Looking ahead, we are actively laying out the landscape for off-chain yields, including partnerships with traditional financial institutions and the development of innovative yield models. These breakthrough plans will be announced to the community at the appropriate time to further enrich the yield sources of brBTC.
Of course, from a global perspective, brBTC is not a standalone product but can effectively interact with various segments of the Bedrock BTCFi product matrix to form an ecological effect: brBTC will create a complete product matrix with uniBTC and uniBTC Vaults to meet different users' investment needs. Users can use uniBTC as the deposit asset for brBTC, and the intelligent interaction between the three products will provide users with the most comprehensive Bitcoin financial application scenarios. This innovative ecological interaction mechanism not only enhances the liquidity of the entire decentralized Bitcoin ecosystem but also provides a solid guarantee for ecosystem security.
TechFlow: From the user's perspective, fund security is fundamental. How does Bedrock ensure fund security and protect user rights?
Zhuling:
Bedrock has multiple measures to effectively protect user asset security, providing users with a trustworthy blockchain ecosystem. In today's complex blockchain environment, security is always one of our core elements of utmost importance. Therefore, we have built a comprehensive security guarantee system at multiple levels to strive to provide maximum protection for user assets.
First, the contract audit report is one of the foundational measures to ensure safety. Bedrock has established cooperation with several well-known auditing firms in the industry and has passed comprehensive audits by authoritative security audit institutions, including Peckshield and Blocksec, striving to safeguard fund security from the most fundamental level of code.
Secondly, Bedrock has successfully integrated Chainlink, further ensuring the security and reliability of data and enhancing the platform's risk resistance. In addition, we have implemented a series of stringent security measures, including a 24/7 real-time monitoring mechanism to respond to potential threats, a bug bounty program to incentivize global security experts to discover and fix potential security vulnerabilities, and we have also established a security fund for rapid response to and resolution of sudden security issues.
Through these multi-layered security measures, Bedrock not only provides users with a feature-rich blockchain platform but also builds a solid line of defense for users' asset security. In the future, we will continue to invest resources to continuously optimize security strategies to ensure that users can safely participate in the innovation and development of the blockchain ecosystem on the Bedrock platform.
TGE is approaching, and now is the golden period to participate in Bedrock and accumulate chips.
TechFlow: The community's discussion about Bedrock TGE is still high. Could you share more details with us?
Zhuling:
First of all, we thank the community for the ongoing attention to Bedrock TGE. Currently, the community's discussions about our Diamonds and TGE are indeed very high.
Although more information about TGE has not been announced yet, we can be sure that the Diamonds accumulated by users will be converted into future BR tokens according to a specific mechanism. Community-centric operation is the fundamental principle of Bedrock, and we will never overlook the contributions of early contributors.
The design of Bedrock's TGE will fully reflect the project's long-term value. Our goal is to establish a sustainable token economic model. In the future, BR tokens will not only be a value carrier but also become an important governance tool in the ecosystem. Token holders will have the opportunity to participate in important project decisions and jointly promote the healthy development of the ecosystem.
The specific conversion ratios and details will be announced to the community at an appropriate time, so please stay tuned.
TechFlow: For current users, how can they participate in Bedrock more effectively?
Zhuling:
As stated in the previous TGE commitments: the Diamonds accumulated by users will be converted into BR tokens in the future according to a specific mechanism. Therefore, the current stage is a golden period for users to interact with Bedrock through participation in unitoken activities and accumulate Diamonds.
Due to our clear product planning, the way for users to participate in our ecosystem is also very clear:
First, users who participate in staking to mint uniBTC can receive multiple Diamonds rewards. Bedrock supports the minting of uniBTC from assets in ecosystems such as Ethereum (wBTC/FBTC/cbBTC), Optimism (wBTC), Merlin (BTC/MBTC), Bitlayer (BTC/wBTC), and B² Network (BTC/wBTC). In the future, as ecological cooperation accelerates, Bedrock will continue to support a wider range of assets. Meanwhile, users can participate in various yield activities on the Bedrock official website's Discover page to earn Diamonds bonuses. Participating in the minting of uniBTC will earn multiple rewards, including Bedrock Diamonds rewards, Babylon staking returns, Babylon points, and DeFi ecosystem participation yields.
Secondly, participating in uniBTC Vaults is also an efficient choice for accumulating Diamonds chips and optimizing yields. Currently, Bedrock has partnered with DeFi protocols CIAN and Veda to jointly launch two Vault products: uniBTC Corn Vault and Cian uniBTC Yield Layer. Users only need to deposit assets such as uniBTC, FBTC, cbBTC, or WBTC to easily participate in yield optimization strategies while receiving points rewards from multiple platforms such as CORN, BABYLON, CIAN, VEDA, and FBTC.
Of course, as brBTC is a core product focused on BTCFi 2.0 recently launched, participating in the minting of brBTC will also yield considerable Diamonds rewards. To further integrate the liquidity of BTC between different DeFi platforms, brBTC currently accepts WBTC, FBTC, mBTC, cbBTC, BTCB, and uniBTC as collateral. In the future, with the expansion of the ecosystem, more assets will be introduced. We welcome everyone to participate and experience.
TechFlow: The last question, as the market becomes active again, more people expect innovations in the staking and restaking tracks to emerge. What do you think the next trend in liquid staking will be? In light of this trend, could you share Bedrock's work focus in 2025?
Zhuling:
We believe that 2025 will be a year of vigorous development for the cryptocurrency industry, and innovations in liquid staking will also usher in a new round of breakthrough developments.
From a trend perspective, the next phase of liquid staking may exhibit the following characteristics:
Further integration of multi-chain ecosystems: With the realization of more blockchain interoperability, liquid staking assets (such as uniBTC and brBTC) will play a greater role in the cross-chain ecosystem, helping users maximize returns across multiple networks.
Diversification of yield models: In addition to traditional on-chain staking yields, the exploration of combining DeFi strategies, off-chain yields, and more innovative yield scenarios will become a mainstream trend.
Strengthening security and transparency: Users' demands for fund security and transparency will continue to drive the evolution of protocol design and operational models.
In the face of these trends, Bedrock's work focus for 2025 will revolve around the following points.
First of all, Bedrock will continue to focus on the core product ecosystem of staking:
In 2024, through the two core products of uniETH and uniBTC, we will help users earn returns in leading restaking protocols such as Eigenlayer and Babylon while maintaining the liquidity of their assets. On this basis, in 2025 we will continue to improve the uniTokens series to provide users with more high-quality staking and liquidity management solutions.
Secondly, Bedrock will focus on BTCFi 2.0 in the future and is committed to leading this narrative trend.
brBTC will serve as the core tool of the BTCFi 2.0 narrative, bringing users secure, efficient, and sustainable returns. We will strive to expand the ecological application scenarios of brBTC, promote the value release of Bitcoin in the DeFi and restaking fields, while ensuring that brBTC holders can freely interact across multiple chains and protocols.
Most importantly, Bedrock will continue to explore new yield scenarios.
In addition to on-chain yields, we will also explore the possibilities of off-chain yields, further expanding users' yield space by combining traditional finance, institutional investors, and other innovative yield models.
Finally, Bedrock will continue to push the industry towards standardization and security.
In the face of the rapidly developing trend in the industry, Bedrock will continue to make efforts in protocol security, yield transparency, and user education, setting new standards for the industry while promoting the healthy development of the liquid staking track.
In summary, Bedrock will continue to maintain its leading position in industry innovation in 2025, creating more value for users through the optimization of core products, expansion of multi-chain ecosystems, and construction of the BTCFi 2.0 narrative, helping the liquid staking track reach new heights.
