Add support for the BR market on Venus Core Pool [BNB]

[AlyssaBedrock]

Summary

Add support for the BR market on Venus Core Pool [BNB].

Background

About Bedrock

Bedrock is the first multi-asset liquid restaking protocol, pioneering Bitcoin staking with uniBTC. As the leading BTC liquid staking token, uniBTC enables holders to earn rewards while maintaining liquidity, unlocking new yield opportunities in Bitcoin’s $1T market. With a cutting-edge approach to BTCFi 2.0, Bedrock is redefining Bitcoin’s role in DeFi — while integrating ETH and DePIN assets into a unified PoSL framework.

Bedrock is backed by top investors, including OKX Ventures, Longhash, Comma3 Ventures, and Waterdrip Capital, ensuring robust security through audits by PeckShield and Blocksec.

About BR

BR is the core utility token of Bedrock, designed to fuel incentives, governance participation, and liquidity provisioning. Here’s what it offers:

• Ecosystem Participation: Distributed to participants who contribute to Bedrock’s growth, such as liquidity providers and stakers, BR enables ongoing engagement and activity within the ecosystem.
• Tradable and Liquid: BR is a freely tradable asset integrated into DeFi protocols for lending, borrowing, and liquidity pools.
• Conversion to veBR for Governance: Users can commit BR to acquire veBR, gaining governance power and enhanced rewards.

BR is listed on major centralized exchanges such as Bybit and Gateio, with over $50 million in on-chain liquidity on PancakeSwap (BNB Chain) and surpassing $4 billion in cumulative trading volume at the time of writing.

Benefits

Integrating BR as collateral on Venus Core Pool will offer several benefits:

• Enhanced Liquidity: Listing BR as collateral on Venus will significantly enhance liquidity on Venus, supported by BR’s substantial trading volume across BNB Chain. With deep liquidity and active markets, BR can serve as a reliable asset within Venus’s Core Pool.
• Increased Yield Opportunities: With Venus supporting BR as collateral in the Core Pool, users can unlock greater capital efficiency by leveraging their BR holdings. This integration drives higher potential returns from lending and borrowing activities, especially across assets like USDT, USD1, and BNB, which are already paired with BR on PancakeSwap.
• Unlocking Innovative DeFi Strategies: This integration sets the stage for more sophisticated DeFi strategies involving BR, USDT, and uniBTC. With BR liquidity pools currently generating up to 300% APR, users could soon leverage their uniBTC positions by borrowing USDT on Venus, then deploying capital into the BR/USDT LP on PancakeSwap. These types of flows can already be done with assets already available on Venus and can increase both supply and borrow demand, further enriching the Venus ecosystem.

Integrating BR into Venus’s Core Pool represents a strategic opportunity for both platforms. This partnership will enhance liquidity, attract new users, and drive innovative DeFi strategies within the BNB Chain ecosystem.

Specifications

Token Supply: 1,000,000,000 BR
Token Address(BNB Chain): 0xFf7d6A96ae471BbCD7713aF9CB1fEeB16cf56B41
Token Holders(BNB Chain): 80,565
Liquidity on PancakeSwap(BNB Chain): $50m

Additional Information

Website: https://www.bedrockdao.com/
Audit Reports: Audit reports | Bedrock DAO
X: Bedrock_DeFi

[Tomm]

Support BR to be listed on Venus, which has a high trading volume in Binance alpha and has many trading strategies to operate

[mopgawka]

I like what Bedrock is doing, and I see great potential in DeFi strategies for BTC. I think adding BR as collateral could be the first step, and then I would love to see ERC-4626 vaults for BTC implemented through Bedrock.

[chaoslabs]

Overview

Chaos Labs does not support the listing of the BR token on Venus’s BNB Core pool.

Technical Implementation

The Bedrock (BR) token is implemented as an ERC20 token on the BNB Chain, with a current total supply of 1,000,000,000 BR. The contract employs a role-based access control system, with roles defined by unique bytes32 identifiers, ensuring that only authorized addresses can mint new tokens or freeze user accounts.

The freezing mechanism allows accounts to be restricted so they can only transfer tokens to a designated freezeToRecipient address (set to the Bedrock DAO deployer), providing a compliance and risk management layer. Unlike a global pause, this per-user freezing gives protocol administrators fine-grained control, enabling them to intervene in specific cases such as regulatory actions, security breaches, or suspicious activity without halting the entire token ecosystem. When an account is frozen, any attempt to transfer tokens, except directly to the freeze recipient, will revert, effectively isolating the user’s assets until the freeze is lifted. This approach balances user autonomy with the need for intervention, and all freeze and unfreeze actions are transparently recorded via emitted events.

The DEFAULT_ADMIN_ROLE is set to a 3-of-5 Gnosis Safe. The admin has the ability to grant or revoke any roles, such as MINTER_ROLE and FREEZER_ROLE, which control who can mint tokens or freeze accounts, can change key parameters (like the freeze recipient), and ultimately decide who can perform any privileged function.

The contract also supports batch transfers for efficient mass payouts and airdrops, and includes burnable functionality to allow holders or approved spenders to destroy tokens. All sensitive actions are gated by strict role checks, and key events such as freezing and unfreezing are emitted for transparency. The contract has been audited by Blocksec, which issued three recommendations (two of which were fixed) and found no potential security issues.

The technical implementation does not prevent us from recommending that the asset be listed.

Price and Volume

However, an examination of the asset’s primary markets indicates that its price and volume are heavily manipulated.

On June 23, price rose from $0.04 to $0.08 in less than an hour; on July 3, price rose from $0.08 to $0.13 in two hours. In between these sharp rises the price has been incredibly stable.

On Pancakeswap, its most liquid DEX venue, BR has logged more volume in the past 24 hours than WBNB itself, despite a TVL of just $21.2M.

An analysis of buy and sell activity over the last 30 days on its largest DEX pool reveals at least 90 users with roughly $14M worth of buys and sells across 7K transactions, a clear indication of wash trading.

This is likely linked to Binance’s promotion of Alpha airdrops, which are distributed according to a user’s Alpha Points. These points are directly linked to the amount of volume a user does, as well as their holdings, of any token included in Binance’s Alpha market; this includes BR. The points are allocated as follows:

Recommendation

Taking into account the strong presence of wash trading as a result of incentives, as well as erratic price movements, we do not recommend listing the asset at this time.