FAQ
What is Bracket launching? Bracket is launching a platform for Liquid Staked DeFi, allowing users to earn ETH + LST block rewards + supported LRT points + Strategy Yields.
When did Bracket begin operating? Bracket Labs started in 2021 by creating DeFi derivatives protocols. In 2023, the team was recognized by Binance and joined the Binance Labs Incubator, Season 5, where they were overall runner-up in the Build-the-Block competition.
Why is Bracket building a platform for Liquid Staked DeFi? Bracket aims to connect LSTs to the best investment opportunities on-chain so that users can maximize potential gains and enhance collateral efficiency.
What is brktETH? brktETH is a token comprised of a composite of liquid staking tokens. brktETH is backed by a blended treasury of reward-bearing assets and provides broad-based exposure to the Liquid Staking Market.
What can I do with brktETH? brktETH is a great way to gain broad exposure to the liquid staking market, offering a high-quality collateral-backed asset to use in DeFi. brktETH will be most useful on the Bracket platform in Phase II of launch when the platform is live with strategies.
How will the price of brktETH be calculated? The price of brktETH will be calculated as the ETH equivalent value of all its underlying collateral divided by the amount of brktETH allocated by the smart contract. This value is dynamically calculated and transparent, with frequent updates on the Ethereum network, recorded on-chain.
What happens during Phase II? In the Phase II launch, all staked assets are locked and the smart contract allocates brktETH, the aggregate LRT token. You can use brktETH in our platform and in other DeFi opportunities.
Can I redeem my staked LST/LRTs in Phase II? What happens if I redeem? You can redeem during Phase II and keep all the Bracket [BARS] you accrued. If you make a partial redemption, you will continue to accrue [BARS] on the remaining assets. Similar to LST protocols, there will be up to a 5 day delay on withdrawals in Phase II for protocol security.
What assets will be supported when the Phase II platform opens? Bracket will support a vetted shortlist of LSTs and LRTs including but not limited to stETH, rETH, eETH, rsETH, STONE, cbETH. Please see documentation regarding our selection criteria here.
What if I only have ETH? Can I participate? Yes. Bracket requires that users convert their ETH to one of the supported LSTs or LRTs. We provide a third-party swap feature (Uniswap) for users at the point of deposit when the platform opens.
How about points? If I participate in Phase II, do I continue to get points for LRTs? In Phase II, you have either claimed brktETH against your LSTs or can buy more brktETH with LSTs. This is a swap, in that you now own brktETH instead of the underlying LSTs. However, brktETH is redeemable for an equivalent value of LSTs in the treasury. If you originally swapped an LRT that has points accrual, you will have a pro-rata share of the balance of that asset in the treasury at any one point. Please see more on third-party points accounting here.
How does the points [BARS] system work? Please go here for more on [BARS] and how to accumulate.
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