DeFi
Bracket Launches Phase I of Its Liquid Staked DeFi Platform
Panama, Republic of Panama, July 31, 2024, Chainwire
Bracket is pleased to announce the official launch of its Phase I Liquidity Program.
Bracket is embarking on a three-phase journey towards its LSTfi platform, where users can deploy their LSTs and LRTs into revenue opportunities.
Phase I allows users to stake supported Liquid Staking Tokens (LST) and Liquid Restaking Tokens (LRT) in an escrow account to participate and accrue rewards starting July 31, 2024.
Early depositors will benefit from the best incentives of the protocol’s points system, Bracket [BARS]Users earn ETH rewards, LRT points and [BARS] while staking and holding earned rewards until withdrawal before $brktETH Phase II launch.
Phase II will begin approximately 90 days after the launch of Phase I. It will lead to the introduction of passive and active trading strategies. At the same time, users are accumulating rewards before the launch of Bracket’s LRT, $brktETH, with the aim of improving capital efficiency and enhancing earning opportunities.
Paving the way for the future of LSTfi
LSTs have become a trusted asset class, gaining the trust of users and investors due to their constantly accumulating block rewards.
However, their non-fungibility remains a hurdle. Bracket addresses this issue by providing a platform that aggregates LSTs, improves collateral efficiency, and aims to create profit opportunities and active trading strategies.
Key benefits for all stakeholders
Several benefits for users include increased utility for LSTs and LRTs and access to passive and active strategies within a consistent user interface. For all point farmers, Bracket has developed its own point system, called [BARS]which is released in Phase I. The system allows users to accumulate points through staking activities.
Additionally, users benefit from margin lending and collateral management as well as performance metrics across strategies for greater consistency and comparability.
Issuers retain their Total Value Locked (TVL) by providing additional utilities and benefits to the community.
Mike Wasyl, CEO and co-founder of the company, said of Bracket’s current state: “Those who were around in 2017 remember when a permissionless global settlement computer was just a dream. It was an exciting time. There was real energy in the room, and everyone was excited to build even though the future was unclear. As I sit down with my team at Bracket, I feel the same excitement today about the future of DeFi and liquid staking. But for the first time, the picture has become clearer. The UX, collateral quality, and DeFi utilities all add up to a powerful LSTfi platform… and we intend to build it.”
“Liquid staking has captured the lion’s share of DeFi TVL over the past year, and for good reason. LSTs expose users to the passive accumulation of block rewards, developing a native, on-chain asset class that cannot be replicated in TradFi. We will introduce a new platform based on our experience as creators in DeFi. DeFi users deserve a simple, fun, and efficient experience with an elegant UX to deploy staked liquid assets into the on-chain economy.”
Phased Launch Program
The team is launching in several phases.
Phase I – Implementation of LSTs under escrow:
Bracket accepts supported LST/LRT for deposit until the launch of $brktETH in Phase II. During this phase, users earn ETH rewards, LRT points, and Bracket points, marked as [BARS]while marking out.
Phase II – Obtain and use $brktETH:
LST/LRT stakers can claim their $brktETH from escrow. Here, the first Bracket products and strategies will be available. $brktETH will be essential to participate in these features.
More information about $brktETH
$brktETH, a new Liquid Restaking Token (LRT), provides access to strategies on the Bracket platform. Backed by a mixed portfolio of LST and LRT, $brktETH is a high-quality DeFi collateral that provides:
- Fungibility in underlying LST collateral
- A diversified exhibition
- Improving capital efficiency
- Global ETH block rewards and continuous point accumulation
The price of $brktETH is calculated dynamically based on the compound value of the assets in its treasury, ensuring transparency and accuracy.
About Bracket
Bracket is a liquid staking DeFi, backed by Binance Labs and 20+ global institutional investors. Bracket is poised to lead the next wave of DeFi innovations.
Bracket is a leading DeFi platform that provides innovative solutions for liquid staking tokens. The team aims to improve collateral efficiency and provide high-revenue opportunities for users, issuers, and protocols.
To learn more, users can visit the project website GitBook. users can join the community by following on X And Telegramjumping in Discordand visit the official site.
Contact
Jamie Kingsley
Bracket Laboratories
j.kingsley@theprgenius.com