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Bedrock DeFi Launches Chainlink Proof of Reserve Secure Mint to Enhance BTCFi Security

The liquid restaking protocol Bedrock DeFi, with over $530 million in total value locked, integrates Chainlink’s Proof of Reserve system to strengthen on-chain asset verification for the Bitcoin Finance ecosystem.

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Summary

Bedrock DeFi, a liquid restaking protocol holding more than $530 million in total value locked (TVL), announced it is now live with Chainlink’s Proof of Reserve Secure Mint. This integration is considered a significant security advancement for the Bitcoin Finance (BTCFi) ecosystem, providing automatic and transparent verification of collateralized assets on-chain.

Terms & Concepts
  • Liquid Restaking: A decentralized finance (DeFi) mechanism allowing users to stake tokens while maintaining liquidity, enabling participation in multiple yield-generating opportunities.
  • Proof of Reserve: A blockchain-based auditing process verifying that custodians or protocols hold sufficient assets to back their issued tokens.
  • BTCFi: A term referring to Bitcoin-based decentralized finance, involving financial applications built on Bitcoin or Bitcoin-linked systems.