Ethereum's Proof of Stake (PoS) is a consensus mechanism used to validate transactions and add new blocks to the blockchain.

In the PoS system, instead of miners using computational power to solve complex mathematical problems to add blocks, validators are chosen at random to add blocks in the blockchain. Each validator will hold a minimum of 32 ETH and stake it as collateral to participate in the network's consensus process.

As a reward for validating transactions and adding blocks, Ethereum provides node operators additional ETH on top of their stake. These rewards are minted in return for helping secure the blockchain.

It is clear that PoS chains will be an integral part of the future of crypto, and become the foundation layer of which DeFi and metaverses will be built on.

However, PoS comes with some drawbacks for those wanting to participate directly as validators:

• It requires technical know-how to set up and operate
• 32ETH is a significant barrier for regular token holders to participate in POS validation
• Staked tokens are locked up and become illiquid assets

In order to solve these issues, liquid staking protocols were born. Liquid staking abstracts the staking of tokens from running a validator node.

In exchange for their tokens, depositors receive a representative (uniETH) token from the protocol which is a claim on the tokens they have staked.

Liquid restaking is liquid staking combined with restaking on EigenLayer in one token. This allows uniETH holders to earn rewards not only from ETH staking but also from restaking on EigenLayer, without compromising liquidity.

uniETH represents the staked ETH plus all future staking rewards and accrual of EigenLayer points and Bedrock diamonds. uniETH does not grow in quantity over time but instead, grows in value, i.e. 1 uniETH becomes worth increasingly more than 1 ETH.

Bedrock on Ethereum removes several drawbacks that exist with Proof of Stake on Ethereum.

Ethereum requires a minimum stake of at least 32 ETH. Bedrock on Ethereum will allow anyone to earn the reward on any amount of ETH deposited with us, plus additional rewards from EigenLayer points and Bedrock diamonds.

When staking on Ethereum, users are required to have technical knowledge of interacting with smart contracts. Bedrock handles all interaction with the blockchain in our users’ place. Ethereum will also require users who make deposits to be technically proficient at running Ethereum nodes 24/7, at the same time keeping that node online and secure. Bedrock provides this service in our users’ place.

This is dependent on the Ethereum blockchain; there will be a waiting time for validators to access the ETH they wish to unstake, as there is only a single queue for both full and partial withdrawals on the blockchain. However, you will receive uniETH when you deposit and it will still gain staking rewards over time in terms of the token value. uniETH can also be sold and traded on various DEXs and CEXs if there is liquidity available for the trade and can be used to provide liquidity to earn additional yield.

uniETH is built on-chain, and all contracts are open-source and available for anyone to view. Total supply of uniETH can be checked and verified via Etherscan

uniETH deposit smart contract captures all these information, which can be checked and verified via Etherscan

Yes. uniETH smart contract has been audited by Peckshield. You can find the smart contract audit report for uniETH via PeckShield Audit Report Bedrock