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Bedrock, a multi-asset liquid restaking protocol, expands to Bitcoin with strong backersSingapore, May 01, 2024 (GLOBE NEWSWIRE) -- Bedrock, the leading multi-asset liquid restaking protocol, secures fundraising with investments aimed towards accelerating its liquid restaking solutions and spurring further growth. The investment round was led by OKX Ventures, LongHash Ventures, and Comma3 Ventures, and participated by Waterdrip Capital, Lbank Labs, Amber Group, ArcheFund, Whale Ground, and angel investors including Fisher Yu, co-founder of Babylon.
Since its inception, Bedrock has solidified its position as a secure LRT player offering institutional-grade services. To date, Bedrock’s combined TVL of both Ethereum (uniETH) and IoTeX (uniIOTX) has surpassed $200 million. More recently, Bedrock has offered native cross-chain restaking on chains including Arbitrum, Linea, Scroll, and Manta, and is continuously expanding to more chains in recent weeks. Bedrock strives to remain at the forefront of staking innovation by offering users access to staking on Bitcoin. As the first protocol built natively on Babylon, Bedrock is excited to disrupt the staking innovation with the next phase of its growth on liquid staked Bitcoin (uniBTC) where it will be introduced in anticipation of Babylon’s mainnet launch. Users can now earn staking rewards while maintaining their Bitcoin liquidity and participating in other DeFi activities. The concept of earning native staking rewards from restaking while contributing security to the ecosystem has led to rapid adoption of Ethereum restaking. Bitcoin Staking can potentially replicae this success to solve Bitcoin capital dormancy and PoS chains’ capital dependence issues with the untapped idle capital of over $1 Trillion in 2024. About Bedrock About Babylon Media Contacts: Contact Person: Junie Yeo, Head of Marketing Social Media Links: Junie Yeo Head of Marketing Bedrock support at bedrock.technology |