RockX, a blockchain node network based in Singapore, has recently launched Bedrock, its Ethereum liquid staking platform. Bedrock provides a non-custodial, on-chain, and independent liquid staking solution to address regulatory requirements faced by large-scale staking processes.
The primary objective of Bedrock is to enhance capital efficiency by allowing users to receive a new token instead of their staked tokens, which represents their claim to the underlying staking and its yield. The platform offers UniETH, also known as universalETH, as the token for staked Ether, providing users with flexibility while complying with regulatory requirements.
The features of Bedrock include the ability to create cross-platform multiplayer games, access to custom skins and texture packs, support for add-ons and mods, and a variety of different game modes such as survival, creative, and adventure.
Bedrock, as an independent liquid staking solution, incorporates several features including a comprehensive on-chain support system designed to ensure trust, transparency, and security throughout the staking process.
To comply with regulatory requirements, the platform has integrated a KYC/AML process. This enables verification of clients who stake more than 32 ETH while still providing retail stakers with anonymity. The platform’s KYC/AML procedures establish trust in the platform, making it a safer option for institutional clients to stake their assets.
Benefits of Liquid Staking Alternatives
Liquid staking alternatives have several benefits compared to traditional staking methods. Firstly, they allow the users to access liquidity while staking their tokens. This means that stakers can take advantage of the growing value of their tokens while still having the flexibility to trade or sell them at any time. Additionally, liquid staking alternatives offer greater security as they disperse the risk across different participants. Another advantage is that they enable stakers to gain exposure to a broader range of assets, leading to a more diversified portfolio. Finally, they can also provide higher yields than traditional staking methods due to the increased liquidity and competition in the market.
Unlike traditional staking, which requires locking up assets for a period of time and provides limited access to liquidity, liquid staking alternatives enable users to trade their tokens while still receiving the benefits of staking.
By converting staked tokens into UniETH, users can now trade and utilize their tokens while still earning a yield on their staked assets. This enhances capital efficiency, providing more liquidity in the market and diversifying opportunities for market participants.
UniETH and Future Expansion Plans
UniETH, or UniversalETH, is Bedrock’s token that represents staked Ether. The platform is planning to support liquid staking solutions for other Proof-of-Stake blockchains in the future. This makes it a versatile platform that can accommodate a wide range of crypto assets.
Incorporating Distributed Validator Technology
Bedrock aims to integrate distributed validator technology into its platform, including open-source protocols that decentralize the responsibilities of many staking validators. This will enable stakers to distribute validator keys required for staking among unrelated and untrusted nodes, thereby improving decentralization, fault tolerance, and the overall robustness of the blockchain.
In conclusion, the launch of RockX’s Ethereum liquid staking platform, Bedrock, signifies another significant milestone in the evolution of the blockchain industry. The platform has been designed to provide a trusted and secure environment where institutions and retail stakers can stake their assets while adhering to regulatory requirements. Its integrated functionality ensures a seamless experience for all users.
With the integration of distributed validator technology and the platform’s future support for liquid staking solutions for other Proof-of-Stake blockchains, Bedrock is in a strong position to bridge the gap between institutional finance and the crypto markets.
With increasing platform maturity, Bedrock has the potential to boost market participation in the staking industry and enhance stability in the cryptocurrency markets. The thriving blockchain and cryptocurrency ecosystem welcomes Bedrock as a valuable addition and we eagerly anticipate its impact on the industry as it develops.