Bedrock

Bedrock describes itself as a multi-asset liquid staking and restaking platform developed with RockX. uniETH pools ETH into validators, uniIOTX maps IoTeX staking into a liquid token, and uniBTC expands wrapped Bitcoin into yield strategies. These receipts are non-rebasing: balances stay stable while an exchange ratio is intended to absorb rewards.

BR arrived as the coordination layer around those products. It can be locked into veBR for voting and is advertised for fee rebates, but it is economically and legally separate from the assets deposited into uniTokens. A BR buyer does not acquire the Bitcoin, ETH or IOTX behind them.

Official tokenomics fixed the public narrative at 1 billion BR and 21% initial circulation. The distribution was broad but concentrated in controlled schedules: 20% each for community incentives, strategic reserve and founding team; 18.5% for marketing; 12.5% seed; 5% IDO; and 4% liquidity.

The clocks matter more than the pie alone. The allocation chart puts community and marketing pools on linear vesting over five and eight years. It gives seed investors a one-year lock, then 25% of their allocation at month twelve, followed by monthly vesting for eighteen months. Team tokens wait two years, then vest semiannually over the next twenty-four months. The reserve note sets an annual 5% usage limit, subject to a foundation decision and advance announcement, but does not specify whether that percentage refers to the reserve allocation or total supply.

The March 2026 anniversary announcement describes the seed release differently: 3.125% of total supply at the end of March, then about 0.52% monthly for seventeen months. That differs from the chart’s eighteen subsequent months. Using the displayed figures gives 11.965% in total, short of the 12.5% seed allocation. These publications therefore do not provide a fully reconciled release schedule; they are not evidence that each planned unlock occurred.

BR’s BNB address anchors the official repository. Chainlink’s directory then maps Ethereum, Base, Berachain and Solana versions through CCIP. BNB uses lock/release while the other networks use burn/mint, so a block explorer snapshot on one chain is only one view of the bridge system.

The repository names separate multisigs for BNB, Ethereum/Base and Berachain. The canonical BNB code also defines default-admin, minter and freezer roles. The reviewed public material did not resolve every current role member, and source code alone cannot prove present assignments.

veBR turns locked BR into time-weighted voting power. Documents describe lock windows, a cooldown, quorum and an approval threshold, but official status language does not line up neatly: one generation of pages says voting is coming, the December 2025 white paper says a complete module remains intended, and the March 2026 anniversary still speaks of upcoming governance and fee-capture work.

Meanwhile, the BNB token’s powers are concrete. MINTER_ROLE can create tokens without a hard cap. FREEZER_ROLE can restrict a sender, and the default admin can redirect the only permitted destination for frozen funds. There is no all-token pause or upgrade function in that source, though other bridge and product contracts have their own administrators and upgrade surfaces.

uniBTC’s Secure Mint design uses proof-of-reserve checks to reject certain mints that would exceed reserves. uniETH uses validator staking and may enter restaking strategies with extra slashing conditions. Withdrawal burns the product receipt after its own delay and limits. None of these mechanics creates a BR redemption right.

The September 2024 uniBTC incident is the warning against treating architecture as certainty. Reporting put the loss near $2 million and relayed Bedrock’s statement that custody reserves remained safe. Later controls and audits can narrow a known path, but they cannot guarantee every contract, bridge, oracle or validator.