BTC Airdrop Ecosystem Unveiled

If you haven’t already make sure to check out Part 1 here, you can read the first half of the without having to be a premium subscriber:

1/ Bedrock +fBTC (Mantle) + Corn (Pendle)

@Bedrock_DeFi backed by @OKX_Ventures, @ambergroup_io and more

How you can farm 4+ tokenless BTC eco projects simultaneously using Bedrock:

Quick Background Context

Bedrock is a multi-asset liquid restaking protocol, developed with RockX, offering non-custodial staking solutions.

Bedrock uses Liquid Restaking Tokens (LRTs) like uniBTC, uniETH, and uniIOTX

These non-rebasing tokens grow in value over time rather than quantity, representing staked assets and future staking rewards

Bedrock to date has accrued over $213M in TVL (~91k users) for these LST assets

For the purpose of this guide we are only going to be focusing on uniBTC

Farming Opportunities

Overall strategy is to stake or LP uniBTC in various partner protocols to maximize the amount of points/diamond we can earn + farm tokenless partner protocols

Provide liquidity with uniBTC = 42 diamonds per uniBTC/per hour (compared to 21 for just holding)

These non-rebasing tokens grow in value over time rather than quantity, representing staked assets and future staking rewards

Bedrock to date has accrued over $213M in TVL (~91k users) for these LST assets

For the purpose of this guide we are only going to be focusing on uniBTC

Farming Opportunities

Overall strategy is to stake or LP uniBTC in various partner protocols to maximize the amount of points/diamond we can earn + farm tokenless partner protocols

Provide liquidity with uniBTC = 42 diamonds per uniBTC/per hour (compared to 21 for just holding)

As a side note anything you use with uniBTC will also be earning you Babylon points ($96M funding) similar to how using various LSTs on ETH also earned you Eigenleyer points

1/ Pendle (corn + babylon + bedrock)

While Pendle itself isn't tokenless it offers some of the best options for leverage poitns farming

YT uniBTC (Corn) = turbo leverage farm for points

gets you 67x @babylonlabs_io points

200x @use_corn points

333x @Bedrock_DeFi points

However with this strategy, the value of your assets progressively go down over time until they are worth $0 at the maturity date (Dec 25th 2024)

you essentially betting that the value of the points earned will be worth more than the value of the assets deposit over that time

LP uniBTC (Corn) = like the YT version but the value of your assets does not go down over time and stays the same by the maturity date

1x @babylonlabs_io points

3x @use_corn points

5x Bedrock points

PT uniBTC (Corn) = forfeit points earned for a fixed yield (not interesting)

My strategy

Utilize both the YT and LP pools

But have a 3x higher weighting in the LP pool compared to the YT pools

This "maintains" my BTC exposure

Example: you have $1k

$250 in the YT pool

$750 in the LP pool

Pendle is only available on ETH mainnet = do when gas is low

2/ fBTC (Mantle/ignition) + Bedrock

@0xMantle is partnering with @IgnitionFBTC to build a competitor to WBTC (look up justin sun + WBTC FUD for context)

They currently have a ongoing sparks/points campaign

You can easily get funds onto Mantle via @squidrouter ($4M funding)

You can then swap assets on Mantle into fBTC

Then Deposit that fBTC for uniBTC on Bedrock

Personally the above 2 option just mentioned are my main/primary go to farms

But im going to cover 2 more options

Under the uniBTC tab on bedrock you can also check all of the supported networks

And 2 of these are tokenless

3/ @build_on_bob - $11.6M funding

You can get uniBTC via the BOB gateway which can be f ound on the Bedrock page when on the BOB network

Lets you earn

Spice + Bedrock Diamonds + Babylon Points

Utilize uniBTC in various DApps on BOB

ETH is used as gas on BOB

@BitlayerLabs - $16M funding

Best bridge I've tested is @mesonfi for getting funds onto Bitlayer

Utilize uniBTC in various DApps on Bitlayer

One example is to stake it on @satlayer - $8M in funding and only ~$25M in TVL

BTC is used as gas on Bitlayer

What is the value of points/diamonds

Pendle intern goes over this in his post here:

https://x.com/PendleIntern/status/1828691298200727871

TLDR about $0.02 / diamond assuming a $300M FDV at TGE

Not completely unfeasible imo

Referral

If you found this helpful you can use my ref code and get a 30% boost to your points

Go to the "Dashboard' tab --> Referral and in top right put in the code

2BMGOR

So that’s it for Bedrock, lets dive into the next BTC eco compound play which lets you farm 3-5 tokenless projects simultaneously depending on your strategy