Binance-Backed Bracket Labs to Launch Platform for Liquid Staked DeFi with Staking Going Live on 31 July: [Are You In] or Out?

Journey Towards LSTfi Platform—Staking Goes Live 31 July

Bracket Labs is poised to initiate a three-phase rollout of its Liquid Staked DeFi platform, where users can invest their Liquid Staking Tokens (LSTs) and Liquid Restaking Tokens (LRTs) in income-generating opportunities.

Phase I, commencing on 31 July 2024, will enable users to stake supported LSTs and LRTs in escrow to participate and accumulate rewards.

Early depositors will enjoy the most favourable incentives offered by the protocol's points system, known as Bracket [BARS].

During this phase, users will earn ETH block rewards, LRT points, and Bracket [BARS] while staking.

They can retain all rewards earned up until the withdrawal prior to the introduction of $brktETH in Phase II.

Users will receive points rewards, [BARS], for various activities on the platform and within the community, such as staking, completing quests, participating in giveaways, and more.

[BARS] will function as a reward for future incentives, with the quantity of [BARS] earned directly linked to specific formulas.

Cryptocurrencies like ETH, LSTs, and LRTs will be accepted as deposits on the platform.

These assets will be converted to their respective notional US Dollar values at the time of deposit for the calculation of daily [Bars], ensuring that users are rewarded in proportion to the value of their deposits or activities.

Users can optimise their benefits within the ecosystem by understanding and utilising the following multipliers:

-TVL INCENTIVES: based on Cap, Size, & Asset

-TIME INCENTIVES: based on Early, Duration, & Phase

-SOCIAL INCENTIVES: based on Referrals, Quests, & Community

How to stake then?

Phase II is scheduled to start approximately 90 days after the launch of Phase I.

This phase will introduce passive and active trading strategies, allowing users to accrue rewards in anticipation of the launch of their own LRT, brktETH, with a focus on capital efficiency and amplified potential.

This phase will offer access to strategies on the Bracket LSTfi Platform.

It is noteworthy that brktETH is a non-rebasing token, which implies that its value may appreciate relative to $ETH.

While details about Phase III have not been disclosed, Bracket Labs has encouraged users to stay tuned for further exciting developments.

Integration of Passage on BNB Chain Following $2M Pre-Seed from Binance Labs

On 1 February 2024, Bracket Labs unveiled the integration of its trading product, Passage, with BNB Chain.

This move extended Bracket's user-friendly, one-click trading platform to the most vibrant trading blockchain in the decentralised finance (DeFi) space.

The integration followed a $2 million investment spearheaded by Binance Labs in January 2024.

Mehmet Buyu, Global Business Development Manager, BNB Chain, said:

“We are excited to work with innovative, fully on-chain applications, especially as DeFi continues to grow and flourish. Tackling the problem of volatility or options trading is not easy, but Bracket Labs team has worked really hard to distill a complex topic into something that is fun and easy to use. This is a welcome addition to the BNB Chain ecosystem.”

BracketX harnesses the infrastructure of BNB Chain, including BNB Greenfield, to ensure optimal decentralised storage solutions.

Passage, the signature product of Bracket Labs, is crafted to streamline on-chain volatility trading.

The expansion onto BNB Chain is in line with Bracket Labs' dedication to making financial products more accessible and to fostering innovation within DeFi.

Passage introduces a revolutionary volatility model that adapts to any market condition, empowering traders to manage volatility and execute trades in both sideways and trending markets, irrespective of price direction bias.

Pelli Wang, Co-Founder and COO of Bracket Labs, noted:

“We have worked closely with Binance Labs and BNB Chain for nearly a year to reach this point and we’re excited to finally debut our product for the incredible traders across BNB Chain. Our launch on BNB Chain opens up a myriad of opportunities due to their active trading volume and liquidity. We expect many more partnerships in the future.”

Bracket Labs capitalises on the unique characteristics of crypto markets, innovating upon traditional financial instruments to offer a leveraged trading product for volatility that thrives in both sideways and trending market conditions.

This integration grants Bracket Labs access to enhanced liquidity for swifter transactions and better pricing.

With this launch, Bracket Labs further diversified its platform for traders, offering access to lower fees on BNB Chain.

The company also anticipates expanding its derivatives trading products to encompass assets primarily traded on BNB Chain, such as Pancake (CAKE).

Moreover, Bracket Labs plans to forge partnerships with major wallet providers, decentralised exchanges (DEXs), perpetuals, and liquid staking projects to bolster its ecosystem, with a particular focus on the international market.

What is Brackets Labs?

Bracket enhances the utility of LSTs by leveraging their potential as high-quality collateral.

They believe that block reward-accruing assets are among the most productive in DeFi and should be maximised for their value.

The platform offers earning and leveraged opportunities for LSTs and LRTs, supporting the growth of assets such as $stETH, $eETH, $rETH, $ezETH, and more.

At Bracket, they are dedicated to advancing Liquid Staked DeFi and empowering users to capitalise on the full potential of these innovative assets.

Binance-Backed Bracket Labs' Team

Wang and co-founder Mike Wasyl initially collaborated in business development roles at Consensys in 2018, before departing to establish Deer Creek, a Web3-centric advisory firm, in 2019.

Subsequently, Bracket Labs was founded in 2021.

Their journey began with a quest to enhance crypto-native derivatives, dissatisfied with existing offerings such as options vaults.

They embarked on product ideation for on-chain DeFi products, with an initial focus on derivatives and options strategies.

In 2023, Bracket Labs entered and completed the prestigious Web3 incubator program, Binance Labs, during Season 5, where they secured the position of overall runner-up in the Build-the-Block competition.

Bracket Labs successfully attracted investment from leading crypto funds and secured grants from key infrastructure partners.

They have contributed to the development of Ethereum's ecosystem alongside industry veterans and have dedicated the past five years to simplifying the complexities of crypto and DeFi.

Bracket Labs' mission is to make financial products accessible to all users and, more specifically, to mainstream leveraged structured products within DeFi.

Their US-based team boasts a strong background in both crypto and traditional finance, with senior leadership experience at institutions such as D.E. Shaw, Merrill Lynch, Barclays, Bloomberg, Consensys, and DeerCreek, among others.

Michael Wasyl, Co-Founder

Wasyl began his career in 2012 as an Analyst at Bloomberg LP.

By 2013, he advanced to Senior Data Analyst - Bloomberg Vault Surveillance, where he managed high-value client relationships and led business development and retention efforts.

In 2018, he joined ConsenSys as the Business Development and Sourcing Lead - Capital, where he sourced and evaluated investment opportunities and coordinated deal execution.

The following year, he co-founded DeerCreek, a venture at the intersection of finance and technology, focusing on bringing DeFi and other innovative financial products to market.

In 2021, he co-founded Bracket Labs.

Wasyl holds a Bachelor's degree from The College of New Jersey, earned between 2010 and 2013.

Before that, he studied Accounting and Economics at Saint Joseph's University's Erivan K. Haub School of Business from 2009 to 2010.

His socials: X and LinkedIn

Pelli Wang, Co-Founder

Wang brings a wealth of experience across various roles and industries.

She began her career as a Venture Analyst at Seed Ventures in 2004, later serving as an Investment Analyst at Barclays Investment Bank from 2007 to 2008.

In 2009, she took on the role of Investment VP at Capmark.

Between 2013 and 2014, she served as a Regional Director at Lean Startup Machine, where she educated entrepreneurs and innovators on the Lean Startup methodology.

In 2014, Wang joined SeedInvest as Principal and Head of Partnerships, where she played a pivotal role in connecting investors with startup opportunities until 2017, when SeedInvest was acquired by Circle.

She then led partnerships at Token Foundry in 2018 and became Head of Partnerships - Capital at ConsenSys in 2019.

That same year, she also took on roles as a Venture Partner at Bevel and Co-Founder and Managing Partner at DeerCreek, an innovation firm.

Most recently, in 2021, Wang co-founded Bracket Labs.

She holds a BS degree in Economics with a focus on Finance, Management, and Accounting from The Wharton School.

Her socials: X and LinkedIn

Bracket Labs' Socials

Website

X

Discord

LinkedIn

Telegram

Bracket Labs is Set to Shape the Future of DeFi

Bracket is making substantial strides in moulding the future of DeFi.

Through the $brktETH and [BARS] rewards programme, it presents users with a plethora of opportunities, striving to fortify the Liquid Staked DeFi ecosystem.

Bracket seeks to address the complexity and inconsistencies in DeFi utility for LST/LRT assets by developing a platform that enables the pooling of these assets for improved collateral efficiency and optimised returns.

Coinlive believes that with Bracket's impending platform launch for Liquid Staked DeFi, users will be able to consolidate LSTs and LRTs to enhance collateral efficiency and amplify earning potential.

Furthermore, the backing of Binance provides an additional layer of confidence.

So in the words of Bracket, [are you in] or out?