#bedrock $BR #Bedrock @Bedrock
Honest take on Bedrock after digging into their latest update.
For the longest time, "BTC yield" basically meant farming points and praying the token launch made the math work.
So when I saw Selini Capital just became the fourth institutional borrower pulling capital from Bedrock's $183M underwriter position on Cap — alongside Susquehanna, Amber, and Flowdesk — I actually paused.
That's not a points program.
That's trading firms paying interest to borrow money.
Boring, old-school credit.
Which is exactly why it's interesting.
The next step is the part I'm watching:
Bedrock's first Yield Vault, which would let uniBTC holders plug into the lending side of that same setup.
Basically retail getting access to the kind of yield that's usually gated behind institutional desks.
Collateralization on the position is sitting above 350%, all verifiable on-chain.
I'm not calling it a sure thing — the vault isn't live yet and execution is everything.
But in a market where emission-fueled APYs are quietly dying, yield backed by actual borrowing demand feels like the direction BTCfi has to go.
Honest take on Bedrock after digging into their latest update.
For the longest time, "BTC yield" basically meant farming points and praying the token launch made the math work.
So when I saw Selini Capital just became the fourth institutional borrower pulling capital from Bedrock's $183M underwriter position on Cap — alongside Susquehanna, Amber, and Flowdesk — I actually paused.
That's not a points program.
That's trading firms paying interest to borrow money.
Boring, old-school credit.
Which is exactly why it's interesting.
The next step is the part I'm watching:
Bedrock's first Yield Vault, which would let uniBTC holders plug into the lending side of that same setup.
Basically retail getting access to the kind of yield that's usually gated behind institutional desks.
Collateralization on the position is sitting above 350%, all verifiable on-chain.
I'm not calling it a sure thing — the vault isn't live yet and execution is everything.
But in a market where emission-fueled APYs are quietly dying, yield backed by actual borrowing demand feels like the direction BTCfi has to go.