We are thrilled to announce that Bedrock ($uniETH), a non-custodial solution developed in partnership with RockX, a well-established blockchain infrastructure company with deep roots in crypto staking, is now live on Sushi! The partnership aims to bring significant incentives for users of both platforms.
What is Bedrock?
Bedrock is a non-custodial solution designed with institutions in mind. It is a platform that prioritizes security, compliance, and transparency. Bedrock utilizes the universal (uni) standard to unlock liquidity and maximize the value of PoS tokens. The $uniETH token is the liquid staking token that users receive after staking ETH into Bedrock. It is yield-bearing without the need for further staking of uniETH, providing users with flexibility to maximize capital efficiency.
Sushi x Bedrock (uniETH)
The uniETH tokens are set to launch on our v3 AMM on the Ethereum network. With Sushi's robust infrastructure, users will find it seamless to swap and provide liquidity for $uniETH. Liquidity providers (LPs) can now earn $uniETH rewards on the v3 ETH/uniETH pool. Staking on Bedrock will provide users with a base APY of ~4%, and further contributing to this pool will enable users to reap a further ~4% APY. This experience is further enhanced by our Automated Liquidity Management (ALM) solution, Smart Pools, powered by the Steer Protocol, as well as Merkl, a stakeless rewards solution. Once you've provided liquidity in a rewards-enabled pool, you can claiming your rewards with just a single click under 'My Rewards'.
"We are thrilled to have Bedrock on board with us to offer the uniETH/ETH pool, opening up new opportunities for our users within the Ethereum ecosystem. We firmly believe in decentralization, and any initiative that advances decentralization on Ethereum aligns with our core values and is something we wholeheartedly support." Jared Grey, Head Chef of Sushi.
This integration enables uniETH holders to earn yield on the Bedrock platform while participating in other activities such as trading and LPing on Sushi, allowing them to benefit from rewards offered by both Bedrock and Sushi, thereby enhancing capital efficiency.
“It's an honor to partner with the Sushi team, especially given that both Bedrock and Sushi are rooted in the Ethereum ecosystem. This collaboration holds immense potential for users on both platforms. As Ethereum-based projects, we share a commitment to decentralization, transparency, security, and compliance.
Through this partnership, we aim to offer substantial benefits to users of both Bedrock and Sushi. Ethereum enthusiasts will find exciting opportunities to maximize their assets and participate in a vibrant DeFi community. As the DeFi space continues to evolve, we are enthusiastic about contributing to the growth of Ethereum and creating a more rewarding experience for all users.” Zhuling Chen, CEO and Founder of RockX
What's next?
Our collaboration with Bedrock is only the beginning. We're looking forward to exploring deeper integration, especially in the realm of long-term liquidity, and to introduce more LP tools that will enhance the LP experience, making it even more user-friendly and rewarding. Stay tuned for more updates!
Sushi is building a comprehensive DeFi ecosystem! Follow our socials to keep up with our product launches and find out more on how you can make the most of your cryptocurrency assets with Sushi’s secure and powerful DeFi tools!
