EigenLayer points aren't your direct relatives; Bedrock is the middleman.
When I saw the whitepaper stating "all the EigenLayer points will be distributed to uniETH holders on a daily basis," my first reaction wasn't excitement, but a reflex to hunt for the distribution formula. I couldn't find it. All I saw was a pile of yield layers stacked like a cake, but there was no mention of how thick the knife slicing that cake is.
ETH staking rewards are publicly available on-chain, EigenLayer points are distributed by EigenLayer per address, and AVS rewards are directly sent into the contract by the project team. But none of this cash goes straight to your wallet; it all floods into Bedrock's treasury first, then gets allocated downwards. This is the most ambiguous zone: the distribution channel. The whitepaper claims daily distribution, but how does it work? Is it weighted by holding duration or by balance ratio? How much is taken as management fees? Who's adjusting the exchange parameters in that Non-rebase model? The old version of the whitepaper had a line for "managerFeeShare," but the new version has erased it. It's not that it was canceled; it's just not written for you to see.
You aren't a direct relative of EigenLayer; you are a generational beneficiary of Bedrock. There’s a layer in between that can adjust parameters at any time, with the distribution formula kept secret, decided by veBR whales through voting. You're watching the points page happily, while the protocol adjusts the water tap in the background.
$BR 's role here is even more nuanced. veBR holders can vote to change the yield distribution parameters. To translate that: the big stakers vote on how many points management fees take and what discount you get on your points. What you receive is the leftover user yield, while they rake in the protocol’s revenue dividends. Wolves and sheep live under the same roof that claims to offer "all-inclusive accommodation and dining," but the menu is different.
So, I no longer consider EigenLayer points as my private property. It's just a receipt that Bedrock collects on my behalf, with the potential for invisible fees to be deducted at any time. There are only a few scraps left over, and only the contract writers know the real deal. @Bedrock
#Bedrock $BR
When I saw the whitepaper stating "all the EigenLayer points will be distributed to uniETH holders on a daily basis," my first reaction wasn't excitement, but a reflex to hunt for the distribution formula. I couldn't find it. All I saw was a pile of yield layers stacked like a cake, but there was no mention of how thick the knife slicing that cake is.
ETH staking rewards are publicly available on-chain, EigenLayer points are distributed by EigenLayer per address, and AVS rewards are directly sent into the contract by the project team. But none of this cash goes straight to your wallet; it all floods into Bedrock's treasury first, then gets allocated downwards. This is the most ambiguous zone: the distribution channel. The whitepaper claims daily distribution, but how does it work? Is it weighted by holding duration or by balance ratio? How much is taken as management fees? Who's adjusting the exchange parameters in that Non-rebase model? The old version of the whitepaper had a line for "managerFeeShare," but the new version has erased it. It's not that it was canceled; it's just not written for you to see.
You aren't a direct relative of EigenLayer; you are a generational beneficiary of Bedrock. There’s a layer in between that can adjust parameters at any time, with the distribution formula kept secret, decided by veBR whales through voting. You're watching the points page happily, while the protocol adjusts the water tap in the background.
$BR 's role here is even more nuanced. veBR holders can vote to change the yield distribution parameters. To translate that: the big stakers vote on how many points management fees take and what discount you get on your points. What you receive is the leftover user yield, while they rake in the protocol’s revenue dividends. Wolves and sheep live under the same roof that claims to offer "all-inclusive accommodation and dining," but the menu is different.
So, I no longer consider EigenLayer points as my private property. It's just a receipt that Bedrock collects on my behalf, with the potential for invisible fees to be deducted at any time. There are only a few scraps left over, and only the contract writers know the real deal. @Bedrock
#Bedrock $BR