Application for Optimism Season 9 - Growth Grants

Bedrock

@optimist-2bf2dcd0

300000

0x69d9576632696CfE94F2b54571cA881c59D8400E

Bedrock is a multi-chain Bitcoin restaking protocol with $500M+ in total TVL across 20+ chains. Our flagship product, uniBTC, is a yield-bearing BTC LST that has generated up to $190M in peak TVL across the Optimism Superchain, currently at ~$96M. This program targets two user behaviors aligned with Season 9 metrics: incentivizing LPs on uniBTC/WBTC pools on Velodrome, and incentivizing USDC lenders and uniBTC borrowers on the Morpho OP Mainnet uniBTC/USDC market. The core problem is a cold-start liquidity gap. Morpho curators cannot safely raise supply caps without deep DEX liquidity to support liquidations, but DEX LPs have little incentive to provide liquidity without active borrowing demand. OP incentives break this deadlock. We've already proven this works. Using ~32,900 OP from our S7 grant, we bootstrapped the uniBTC/USDC Morpho market on Base from $0 to $500K TVL, roughly $15 TVL per $1 of incentive deployed. This S9 grant scales that momentum to $2.5M USDC supply, the threshold at which organic borrow rates sustain the market without further subsidies. Website: https://bedrock.technology dApp: https://app.bedrock.technology

uniBTC/WBTC — Velodrome, OP Mainnet, Concentrated Liquidity, 0.01% fee tier(TBD) We are concentrating 100% of our DEX incentives on the uniBTC/WBTC pool to maximize liquidity depth and capital efficiency. As both are BTC-pegged assets, this pair offers the lowest price impact and minimal impermanent loss for LPs. This deep "liquidity anchor" is sufficient to support the Morpho uniBTC/USDC market, as WBTC is the most liquid BTC asset on OP Mainnet, providing a reliable and low-slippage routing path for liquidators to swap uniBTC into any other asset (including USDC) during liquidation events.

uniBTC / USDC As part of this grant program, Bedrock will work with Edge Capital to establish a uniBTC/USDC lending market on Morpho OP Mainnet, modeled after the existing Base deployment. uniBTC will serve as collateral and USDC as the borrow asset. Liquidation path: uniBTC (collateral on Morpho) → swap to WBTC via Velodrome uniBTC/WBTC pool → swap WBTC to USDC via existing DEX liquidity → repay USDC lender. Deep uniBTC/WBTC liquidity on Velodrome directly reduces liquidation slippage and enables the curator (Edge Capital) to safely raise supply caps. Reference (existing Base market): https://app.morpho.org/base/vault/0x5435BC53f2C61298167cdB11Cdf0Db2BFa259ca0/edge-ultrayield-usdc

DEX — Velodrome, OP Mainnet uniBTC/WBTC: - TVL: $0 (new pool, to be bootstrapped via this grant) - 30-day average trading volume: N/A (new deployment) Reference (existing Base deployment): - uniBTC/cbBTC Aerodrome pool: $1.75M TVL, $1.43M 30d volume, volume/TVL ratio = 0.82x - Morpho Base uniBTC/USDC market: $500K TVL, 95%+ utilization (bootstrapped with 32,900 OP from S7 grant)

Incentives are distributed on-chain across three recipient groups: - 60% to DEX LPs on uniBTC/WBTC Velodrome OP Mainnet — primary target, directly drives Season 9 metrics and unlocks Morpho scaling - 20% to USDC lenders on Morpho OP Mainnet — maintains utilization as supply scales - 10% to uniBTC borrowers on Morpho OP Mainnet — sustains organic borrow demand - 10% flexible reserve — adjusted based on TVL and utilization data Bedrock will participate in Velodrome's gauge incentive system by providing bribes to veVELO voters to direct VELO emissions to the uniBTC/WBTC pool. Bedrock will also add Diamond and BR token rewards. **Why This Creates Sustained Liquidity** This program targets structural liquidity gaps rather than short-term yield opportunities. Our existing Base deployment of the Morpho uniBTC/USDC market demonstrates 95%+ utilization, validating genuine borrowing demand for this structure. By replicating this model on OP Mainnet, we expect organic borrow interest to progressively replace OP as the primary yield driver for lenders as DEX liquidity deepens and Morpho supply scales, transitioning the market from incentive-driven to self-sustaining.

Track Record with OP Grants Bedrock has a proven track record of delivering on OP grant commitments. Our S7 Ecosystem Grant (235,000 OP) grew Superchain TVL to $190M peak, exceeding all milestones. Full details: https://app.charmverse.io/op-grants/bedrock-s-base-bob-lrt-growth-plan-6146221434906467 Bedrock has also organized 40+ successful community campaigns consistently delivering strong results in TVL growth, user acquisition, and transaction volume. https://app.bedrock.technology/discover Co-Incentive Structure This program benefits from co-incentives that amplify OP grant efficiency. Bedrock will participate in Velodrome's gauge incentive system by providing bribes to veVELO voters to direct VELO emissions to the uniBTC/WBTC pool. Bedrock will also add Diamond and BR token rewards for LPs and lenders, reducing the effective cost per TVL of OP deployed.

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