【Speculation | Bedrock 2.0 Transformation Plan, Will the Opportunity to Unwind uniIOTX Arise?】
The most criticized aspects of the last bull run's LST and LRT were probably the inability to exit after staking. Whether it was due to the target chain lacking trading liquidity or holding too little to meet the unstaking conditions.
For those who got liquidity trapped in uniIOTX, waiting for Bedrock
@Bedrock to phase out the uniIOTX product line might be the only chance to recover assets, and that day should be coming soon.
Yesterday, it was mentioned that Bedrock has stopped supporting the bridging functionality for uniBTC across 12 blockchains, and the official team will assist in transferring assets to Ethereum. A similar opportunity may also arise with uniIOTX.
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Since its launch in 2024, uniIOTX has consistently maintained a staking volume above 400m
$IOTX , but the reason might not be the allure of over 5% APY, rather it’s due to the lack of exit opportunities that passively traps holders.
According to the rules for unstaking uniIOTX, the minimum unstaking amount must reach 1m IOTX, currently valued at about $3,300.
Looking at the total staking volume, uniIOTX's reserves are approximately 420m IOTX, with 14,019 holding addresses, and an average holding amount of only about 30,000 IOTX, far below the threshold for unstaking applications.
Worse yet, the IoTeX chain has essentially become a dead chain, with the largest liquidity on-chain being Bedrock uniIOTX, meaning that even if users want to swap for other assets, the liquidity on the chain cannot meet the demand.
So, most uniIOTX holders can only passively wait for the Bedrock team to announce the discontinuation of that product line and provide users with an exit liquidity opportunity.
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Summary
In contrast, even though uniETH did not appear in the Bedrock 2.0 plans, I believe ETH Staking is a more manageable product line, currently still accounting for about 1/3 of Bedrock's TVL, likely to be maintained for some time.
On the other hand, the uniIOTX product line is highly likely to be terminated in the near future. Interestingly, if uniIOTX officially enters its final chapter, it would also signal the end of the IoTeX blockchain.
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● The above content does not constitute investment advice (NFA); users should operate based on their own risk tolerance, DYOR and participate in the investment market cautiously.
● Attached image sourced from Bedrock
#Bedrock #BR $BR
#uniIOTX #uniBTC