Liquid Staked DeFi
ETH+ is the goal of the Bracket Platform
Last updated
ETH+ is the goal of the Bracket Platform
Last updated
Bracket began its journey developing individual derivatives protocols. Bracket has years of experience delivering innovative products to market with collaborators like Binance Labs, GMX, and more. Liquid Staked Tokens have matured as an asset class, earning the trust of users and investors alike. LSTs offer constantly accruing block-rewards, which makes them appealing for collateral accepted within our products. As the LST ecosystem grows, there needs to be far more utility (protocols that accept LSTs) for these assets in DeFi to satisfy the tens of thousands of monthly active users with billions of dollars of holdings. Another challenge is that LSTs are not interchangeable, they are not "fungible" with one another. For this reason and others, we decided to create $brktETH, a new token collateralized by a composite of LSTs, and make that the fundamental token accepted within our platform.
LSTs are the highest quality collateral in DeFi because they expose holders to ETH return + block rewards. However, most protocols do not yet accept LST assets. Further, having liquidity fractured among all of these assets creates difficulties within DeFi as they must segregate liquidity within the protocol. For example, if a user deposits abc LST, they don't want to get back xyz LST, so a protocol must internally segregate their liquidity for each LST they accept. Because LSTs are not interchangeable, they are not "fungible" with one another.
A depositor entrusting a manager to implement a strategy would like to be on a platform that ensures the manager is staying within their stated investment mandate and is unable to remove funds from the platform. Today, strategy management products either provide no safety rails whatsoever or are so complex and require smart contract level integration that new managers can't easily interact with the platform. Bracket is creating the best infrastructure for professional strategy managers to run their programs in a secure, transparent, and controlled environment. Users deserve to know where their funds are, what their asset exposure is, and to get consistent reporting.
Bracket anticipates LSTs to continue to be the asset of choice for maintaining ETH exposure, as they are reward-accruing assets. DeFi platforms like Pendle paved the way for LST/LRT degens to “stack” rewards, farm points, and returns atop the ETH block rewards. However, not all opportunities are made equal and users now bear the burden of having to choose the best LST flavor of the day. This is complicated by inconsistent DeFi utility for each asset. Further, AVS platforms, while innovative, are looking like they may not produce an attractive enough immediate yield for users. Thus, users will start looking for real-yield to passively stack while holding long ETH.
Bracket delivers the best way for users to deploy LSTs in yield opportunities while retaining their ETH exposure, all from a single platform with security and transparency.
To deploy LST collateral and create fungibility among the many LSTs, the Bracket smart contract will allocate brktETH to users, a blended composite of LSTs to enhance collateral efficiency. brkETH can then be deployed by their owners into professionally run strategies on the platform to generate ETH+.
USERS:
BrktETH creates more utility and fungibility for LST and LRT protocols accepted within Bracket's blended treasury
Move between strategies that use a consistent and familiar UI
Continue to accrue underlying points in the LST or LRTs that was deposited
Performance will be calculated in a consistent and comparable way across strategies to maximize comparability
View balances consolidated across all strategies
Active managers, protocols and on-chain strategies will be vetted and controlled, and reported transparently to the user. You will know how your money is deployed by managers at all times
You will be able to see the white listed capabilities of your manager and feel confident knowing that the Bracket Infrastructure is making sure the manager stays within their investment policy, and money can not leave the platform .
FOR LST PROTOCOLS
Critical to success for LST protocols is utility for their assets in the market. Existing LSTs will lose TVL to other LSTs if they do not provide adequate utility to users.
FOR PROTOCOLS
BrktETH will allow protocols to accept one fungible token instead of having to support multiple underlying tokens.
FOR STRATEGY MANAGERS
Becoming an approved strategy manager allows you to list your strategy opportunities on the platform
Get funds to deploy into your strategies to earn management fees on profits
Bracket provides the best infrastructure for doing strategy management. Deploy tokens in your strategy as you normally would using browser injected wallets. Bracket's technology will permit whitelisted activity and only block activities outside of those boundaries.
Although Bracket requires all money to stay on-chain, we allow you to bridge the funds to different EVM-based chains to exploit cross chain DeFi opportunities
FOR TREASURIES
Deploy latent LSTs or ETH into Bracket strategies to earn ETH+Yield
Bracket is the right team to execute
We have extensive experience building complex, on-chain derivative products that have been successfully in production for over 18 months without incident
Liquid Staked DeFi and on-chain asset management is a natural extension of the products we have already created
We have deep experience in Web3 dating back over 5 years
Deep tradfi experience
Backed by Binance Labs
Our smart contract code is audited by Zellic
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