▶️Introduction
Last updated
Last updated
uniBTC represents the staked wrapped BTC token, wBTC is the first supported token to mint uniBTC.
1 uniBTC = 1 wBTC staked
uniBTC can also be sold and traded on various DEXs and CEXs if there is liquidity available for the trade.
It's a long awaited that all the btc holders cannot enjoy yield while holding their BTC tokens safely. The market is anticipating the most prominent solution Babylon’s Bitcoin Staking Protocol, while Babylon is designed to do restaking on top of BTC blockchain network, how about other BTC pegged token like wBTC, BTCB or other wrapped BTC tokens rather than the native BTC tokens?
Bedrock uniBTC is the answer, the innovative restaking solution for wBTC holders to enjoy the BTC restaking rewards without redeeming wBTC. Plus it's still inheritance the high security standard on Ethereum blockchain, the entire staking / unstaking process are guarded by muliple rounds audited smart contract.
With the strong expertise of Bedrock team on various liquid staking and liquid restaking products running in a row, we do believe uniBTC will be a very good option for wrapped BTC tokens users to earn muliple rewards by simply minting their wrapped BTC tokens into uniBTC.
In the first a few weeks during Babylon mainnet is live, there will be no restaking rewards, Bedrock team will incentive wBTC holders to try out wBTC restaking and earn potential rewards and multiple points, the user expeirence is very straightforward following this guide. Earn 21x booster Diamond points by simple staked wBTC into Bedrock protocol.
Bedrock gives everyone the opportunity to earn rewards on any amount of wBTC, as we do not have a minimum. We do recommend a deposit of at least 0.005 wBTC to make your transaction worthwhile. When you stake wBTC, you will receive uniBTC, which represents the staked wBTC.
This is dependent on the Babylon blockchain; there will be a lock period for BTC staking recognized by the Babylon network. However, you will receive uniBTC when you deposit and it will still gain staking rewards over time. uniBTC can also be sold and traded on various DEXs and CEXs if there is liquidity available for the trade and can be used to provide liquidity to earn additional yield.
uniBTC is built on-chain, and all contracts are open-source and available for anyone to view. Total supply of uniBTC can be checked and verified via Etherscan
uniBTC deposit smart contract captures all these information, which can be checked and verified via Etherscan
