When I was researching the economic model of @Bedrock , I really couldn't wrap my head around the value capture of $BR .#bedrock
I spent hours yesterday afternoon diving into the docs, convinced it was just another run-of-the-mill governance token. My traditional DeFi mindset was too ingrained; I kept trying to apply TVL and fee extraction metrics to it. No matter how I crunched the numbers, it felt like relying solely on fees limited the potential of this token. After hitting a wall, I took a stroll downstairs, and while rethinking the business logic of Bedrock's multi-chain staking, I suddenly realized I had fallen into a conceptual trap.
$BR isn't a traditional "dividend" certificate at all; it's actually a "dispatch ticket" for underlying secure bandwidth.
Once I got that logic, what I previously thought was a flimsy design instantly felt robust. Just look at EigenLayer and Babylon; they're all about shared security. In the future, when hundreds or even thousands of AVS are up and running, the biggest need will be the original staking assets. Nodes and new protocols will surely find ways to compete for the liquidity of uniBTC or uniETH for cold starts or to boost security.
At this point, Bedrock holds a massive TVL, so which AVS will get the "security consensus" generated by these assets? That becomes the core power in the ecosystem. I had been so focused on how much interest users could earn from staking that I overlooked the fact that BR is actually the "flow valve" for these AVS. Whoever holds or locks up $BR can guide the direction of that massive underlying liquidity. It's just like the veCRV wars back in the day; project teams must buy or incentivize BR holders to gain security.
When I connected these dots, it felt like a light bulb went off. Bedrock is fighting for not just asset issuance rights but also the distribution of security resources.
Right now, everyone is scrambling to ramp up the underlying TVL scale. Once the TVL hits a certain threshold, the real value focus will definitely shift to the liquidity command stick. At that stage, what BR captures won't just be simple fees, but the "pricing power" during the expansion of the entire Web3 security infrastructure.#bedrock
I spent hours yesterday afternoon diving into the docs, convinced it was just another run-of-the-mill governance token. My traditional DeFi mindset was too ingrained; I kept trying to apply TVL and fee extraction metrics to it. No matter how I crunched the numbers, it felt like relying solely on fees limited the potential of this token. After hitting a wall, I took a stroll downstairs, and while rethinking the business logic of Bedrock's multi-chain staking, I suddenly realized I had fallen into a conceptual trap.
$BR isn't a traditional "dividend" certificate at all; it's actually a "dispatch ticket" for underlying secure bandwidth.
Once I got that logic, what I previously thought was a flimsy design instantly felt robust. Just look at EigenLayer and Babylon; they're all about shared security. In the future, when hundreds or even thousands of AVS are up and running, the biggest need will be the original staking assets. Nodes and new protocols will surely find ways to compete for the liquidity of uniBTC or uniETH for cold starts or to boost security.
At this point, Bedrock holds a massive TVL, so which AVS will get the "security consensus" generated by these assets? That becomes the core power in the ecosystem. I had been so focused on how much interest users could earn from staking that I overlooked the fact that BR is actually the "flow valve" for these AVS. Whoever holds or locks up $BR can guide the direction of that massive underlying liquidity. It's just like the veCRV wars back in the day; project teams must buy or incentivize BR holders to gain security.
When I connected these dots, it felt like a light bulb went off. Bedrock is fighting for not just asset issuance rights but also the distribution of security resources.
Right now, everyone is scrambling to ramp up the underlying TVL scale. Once the TVL hits a certain threshold, the real value focus will definitely shift to the liquidity command stick. At that stage, what BR captures won't just be simple fees, but the "pricing power" during the expansion of the entire Web3 security infrastructure.#bedrock