🎯Staking wrapped BTC in Bedrock

Bedrock now accepts multiple wrapped BTC in different network, to illustrate, wBTC is used in this tutorial. It always encourage users to go to uniBTC page to check the latest accepted wrapped BTC on different networks.

Staking

1. To stake your wBTC for uniBTC in Bedrock, click 'Connect Wallet' at the top of the page to link your preferred wallet (MetaMask in this tutorial) to the dApp. Once connected, the mint/withdraw function for uniBTC will be available.

Figure 1: Click Connect Wallet button

Figure 2: Choose a supported wallet and connect

1. Approve the allowance to Bedrock uniBTC mint smart contract

For security reason, please consider only approve with necessary allowance amount to any smart contract.

Figure 3: Grant the allowance to Bedrock uniBTC smart contract

1. Stake your wBTC to mint uniBTC

Figure3: Stake wBTC

Figure 5: Confirm your staking amount and Stake

Figure 6: Upon staking successfully, check and manage uniBTC balance

You will receive uniBTC when you deposit it and it will accrue staking rewards over time by growing in token value. uniBTC can also be sold and traded on various DEXs and CEXs if there is liquidity available for the trade and can also be used to provide liquidity to earn additional yield.

Bedrock allows everyone the opportunity to earn rewards on any amount as we do not have a minimum amount required to use the Bedrock protocol. 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 staked wBTC.

1. (Optional) Add uniBTC token into your Metamask wallet

To be able to view your uniBTC on your Metamask wallet, click 'Add to MetaMask' to import the uniBTC token to MetaMask.

Figure 7: Add uniBTC into Metamask wallet

Unstaking

For the time being, the unstaking function is disabled, and will be turned on by next smart contract upgrade, controlled by multi-sig wallet.

It's dependent on when Babylon unstaking function live on Babylon mainnet.

Unstaking uniBTC must be done in units of 1 wBTC and will require 30 days to process and unlock your staked wBTC. After the token is unlocked, you will be able to claim it by transferring it to your wallet.