Bracket
A strong project supported by the most influential exchange β Binance: the Bracket platform.
Bracket provides opportunities for earning and leveraging for liquid staking and restaking tokens.
Let's take a closer look at what staking, restaking, and how the platform works.
Staking β process of supporting the functionality of a blockchain by locking cryptocurrencies in smart contracts. This is achieved by users participating in block validation β checking blockchain data blocks for accuracy and authenticity. Validator users place their cryptocurrency in staking, freezing it for a period. Rewards are provided for the staking process, consisting of validation rewards.
In 2022, Ethereum transitioned to the Proof-of-Stake consensus mechanism, and now validators perform the role miners previously had in confirming blocks and transactions. Validator rewards for staking ETH are not just interest earned for holding the token but rewards for supporting blockchain functionality, previously awarded to miners before the switch to Proof-of-Stake.
To become a validator on the Ethereum network, validators must stake 32 ETH (approximately $112,000 at the current rate), thereby freezing a significant amount of assets, rendering them illiquid and unusable further. For this, they receive an annual yield of 3-4% in ETH, which is not very high. Thus, the crypto community faces the significant challenge of increasing staking yields.
From staking to liquid staking
The next stage in the evolution of staking is the emergence of liquid staking β made possible by the invention of a method to reuse the funds locked in staking.
The mechanism of liquid staking involves the user locking a base token (e.g., ETH) in a decentralized application and receiving a derivative (wrapped token) in return (e.g., brktETH).
In regular staking, assets are frozen in smart contracts. However, liquid staking, through the issuance of a wrapped token, allows these assets to be reused, enabling the user to earn income twice. First, by earning rewards as a validator, and then by using the wrapped tokens as collateral or a guarantee, for example, to obtain a crypto loan.
In the Bracket protocol, the liquid staking mechanism allows users to use their funds more efficiently and earn additional rewards.
Key advantages of liquid staking on the Ethereum network compared to traditional staking.
- Higher returns from staking compared to the traditional approach. For instance: in Bracket, wrapped tokens (brktETH) can be placed in vaults utilizing proven yield-enhancing strategies, thus earning additional income from the locked assets.
- Lower entry threshold for staking. Setting up a validator node on Ethereum costs 32 ETH β a sum of $112,000, which exceeds the entry threshold for many aspiring stakers. Bracket reduces this threshold to a few hundred dollars by pooling 32 ETH from a large number of users, allowing them all to earn rewards and democratizing the staking process.
- Fully non-custodial storage. Staking on centralized platforms requires users to transfer their assets. If the platform mismanages client funds and ultimately becomes insolvent, this can lead to user fund losses. Non-custodial staking allows users to keep their assets in their own wallets and earn staking rewards without losing control over their assets.
What sets Bracket apart from other liquid staking protocols?
A wide range of uses for $brktETH tokens within the Bracket ecosystem, offering more earning opportunities.
- Bracket supports restaking
If it's possible to reuse the tokens locked in staking, why not "spin" the assets one more time?
The platform accepts liquid staking tokens from other platforms.
In return, it issues $brktETH tokens upon restaking.
Users can expect: competitive base rate from liquid staking + special bonus points from the platform for using their funds + income from restaking through Bracket's strategies.
- Passive usage: margin lending pool, strategic vaults.
- Active usage: margin trading, margin swaps.
- The platform supports cross-chain tokens via Axelar.
Axelar β cross-chain communication network that enables decentralized applications to interact across different blockchains. Axelar provides the infrastructure for exchanging assets and data between various blockchains, ensuring compatibility and security.
Bonuses from using the Bracket platform include:
- Accumulation and aggregation of points (bonus points for activities on the platform).
Users continue to earn bonus points for liquid staking while also receiving new Bracket points. - Increased yield.
Users place $brktETH in passive and active strategies to boost their returns.
- Pooled liquidity for liquid staking.
Combining different liquid staking tokens under the $brktETH management creates interchangeability, increases capitalization and diversification, making investments more efficient.
Example: staking liquid tokens from the popular liquid staking platform EtherFi β eETH will yield:
Example: 2: margin lending pool for depositing stETH tokens offers up to 10.3% annual yield.
Team
The founders of Bracket are experienced crypto experts from Wall Street: extensive experience working in both traditional and modern financial companies such as Bloomberg, Barclays, Consensys, and others.
They participated in building the Ethereum blockchain ecosystem alongside its legendary founders and have dedicated the last five years to simplifying interactions with cryptocurrencies in the DeFi sector.
Bracket was founded in 2021.
The team began developing ideas for DeFi network products, initially focusing on derivative and options strategies, before shifting to create a liquid staking platform.
The Bracket team has launched three different derivative products (Bracket, Channel, Epoch) and created an exchange infrastructure product, Passage, which allows users to place and match exchange orders based on the asset's volatility.
- Michael Wasyl β co-founder and CEO.
A business development professional with over 10 years of experience in fintech, digital assets, and venture investments. He managed the investment arm of ConsenSys Capital and worked at Bloomberg, providing analytical solutions for major banks. Currently, Michael is a managing partner at DeerCreek, a strategic advisory firm for leading blockchain funds.
https://www.linkedin.com/in/michael-wasyl-7b110322 - Jason Glazier β co-founder and CTO.
With 30 years of experience in technology and finance, Jason earned a Ph.D. in Computer Science from Columbia University, successfully launched and sold his first startup, and held CTO and VP positions at several major financial organizations, including Merrill Lynch and D.E. Shaw & Co. Over the past 15 years, he has developed expertise in machine learning, cloud computing, and decentralized finance. He holds numerous professional certifications and licenses.
https://www.linkedin.com/in/jasonglazierphd - Pelli Wang β co-founder and COO.
With 16 years of experience in investment management, private equity, venture capital, and startup financing, Pelli managed business development and partnerships for ConsenSys Capital and participated in venture investments and partnerships for SeedInvest. Pelli is a managing partner at DeerCreek, providing strategic consulting for leading blockchain funds.
https://www.linkedin.com/in/pelliwang - Jesse Guglielmo β head of marketing.
Jesse is a marketing expert with over 20 years of experience in fintech, consumer technology, and Web3, holding leadership positions at Bloomberg and the NYSE (New York Stock Exchange), and working with major brands and celebrities.
In recent years, Jesse has focused on Web3 ecosystems and joined Bracket as the Head of Marketing after successful work in New York.
https://www.linkedin.com/in/jesseguglielmo
Investors
Two top tier 1 funds: Binance Labs and NGC Ventures. Also, many other well-known names in the crypto industry: exchange Gate.io, Cypher Capital, OxVentures.
- Binance Labs β legendary investment arm of the most renowned cryptocurrency exchange, Binance. It created its venture project to incubate, invest in, and develop blockchain technologies, cryptocurrency businesses, initiatives, and communities. Binance Labs invests in strong projects and founders who build and support a decentralized network.
Bracket was a participant in the fifth season of the MVB: Web3 incubator by Binance Labs and became its only finalist in the DeFi sector. The project successfully raised funds from leading venture funds and received grants from key infrastructure partners such as Arbitrum, TheGraph, and AWS. - NGC Ventures β major tier 1 Singapore-based venture fund specializing in investing in blockchain and fintech companies. The fund supports promising teams developing the next generation of decentralized technologies. They stand out for their contributions to blockchain infrastructure, participating in projects that later gained significant recognition, such as Zilliqa, Solana, and Avalanche. The fund has offices in Singapore, San Francisco, California, Texas, London, Shanghai, and Taiwan, highlighting their global presence and influence in the blockchain technology space.
Token Utility
The main token received: $BRKT
- Fee payment: Fees collected in $BRKT are burned, creating deflationary pressure to increase the token's price
- Fee reduction: Reduces fees and offers discounts based on volumes for token holders
- Emission and rewards
- Governance token: Voting on important decisions related to the project's developmen
$brktETH β a derivative within the Bracket ecosystem
- Provides liquidity by pooling liquid staking tokens from different protocols.
- Used for enhancing yields through restaking within the Bracket LSTfi ecosystem.
- Payment token
$brktETH creates additional liquidity and enables earning extra yield from its restaking, offers diversification, and improves capital efficiency.
Tokenomics
- Token: $BRKT
- Total supply: 10 billion
- Network: Arbitrum (Ethereum L2)
- Round: Private (valuation of $60 million)
- Token price: $0.006
- Conditions: TGE 0%, 3-month cliff, then linear unlock over 21 months.
Next round: Private VC for major venture funds with a valuation of $75 million. - TGE: end of Q4 2024
Public sale with valuation of $200 million and token price of $0.02.
Negotiations are ongoing for listing with top exchanges Binance and OKX, as well as another well-known exchange: ByBit, Gate.io, or MEXC.
Social networks & links
π Website: https://www.bracket.fi/
π Documents: https://bracket-labs.gitbook.io/bracket
π¦ Twitter/X: https://x.com/bracket_fi
π» Discord: https://discord.com/invite/bracket
π» Telegram: https://t.me/bracket_community
Social media presence is already substantial: 48k followers on Twitter/X, Discord β 36k. Active marketing campaign. Twitter/X followers include representatives from major investment funds, influencers, and industry experts.
Bracket β strong project in the DeFi sector: by utilizing liquid staking tokens from various protocols, it will compete with leading liquid restaking protocols that are currently attracting significant attention.
An experienced team with numerous partnerships, having already released several products. Top investors led by Binance. Attractive entry conditions. We strongly recommend adding this promising and in-demand project to your crypto portfolio.