At a glance
ether.fi ↗ is the dominant ETH liquid restaking protocol, issuing eETH/weETH against EigenLayer ↗ restaked positions and managing $3B in TVL across 5 chains. Bedrock uniBTC ↗ is a smaller multi-asset liquid restaking protocol with $0.28B TVL, tokenizing restaked BTC, ETH, and IOTX via uniBTC, uniETH, and uniIOTX on 6 chains. Both launched in 2023 and operate via DAOs. If you hold ETH, ether.fi offers the deepest liquidity; if you hold BTC, Bedrock is the primary on-chain route for BTC liquid restaking.
Key differences
- TVL share: ether.fi commands $3B in TVL versus Bedrock’s $0.28B, a 20x gap that reflects ether.fi’s first-mover advantage in ETH liquid restaking.
- Supported assets: ether.fi is ETH-only, while Bedrock covers BTC, ETH, and IOTX. This makes Bedrock the only protocol in this comparison that accepts BTC deposits for restaking.
- Chain coverage: ether.fi is live on Ethereum, Arbitrum, Base, Linea, and Blast. Bedrock is deployed on Ethereum, Arbitrum, BNB, Optimism, Base, and Mantle. The protocols share Ethereum, Arbitrum, and Base, but Bedrock’s BNB and Mantle deployments differ from ether.fi’s Linea and Blast.
- Audit profile: ether.fi lists 3 audits from Certik, Nethermind, and Solidified. Bedrock lists 2 from SlowMist and Salus. ether.fi has no recorded exploit; Bedrock's uniBTC vaults were exploited for roughly $2M in September 2024 via an infinite-mint bug, though most at-risk funds were protected by pausing exposed integrations.
- Restaking integrations: Both tap EigenLayer for ETH restaking. Bedrock additionally integrates Babylon and Symbiotic to enable BTC restaking, expanding its serviceable market beyond Ethereum.
- Governance tokens: ETHFI governs the ether.fi DAO; BR governs the Bedrock DAO. Both tokens are native to their respective ecosystems and are listed on major exchanges.
Security and track record
ether.fi and Bedrock both launched in 2023. ether.fi’s 3-audit suite (Certik, Nethermind, Solidified) covers more ground than Bedrock’s 2-audit suite (SlowMist, Salus), and ether.fi has maintained a clean exploit history. Bedrock, by contrast, suffered a roughly $2M exploit of its uniBTC vaults in September 2024, when an exchange-rate flaw in one minting path allowed an attacker to mint uniBTC for a fraction of its value; most potential losses were averted by pausing exposed third-party protocols. ether.fi’s larger $3B TVL also means it has withstood more sustained economic stress testing. This does not imply Bedrock is unusable, but ether.fi’s clean record at scale provides a higher confidence margin for large depositors.
Fees and costs
At the time of writing, DeFi Intel did not have granular fee data for either protocol. Restaking fees—including protocol fees on staking rewards and withdrawal fees—vary by asset and chain. Users should check the ether.fi app and Bedrock docs for current rates before depositing.
Which should you choose
Pick ether.fi if:
- You hold ETH and want the deepest liquidity for liquid restaking.
- You need your LRT to be widely accepted across EigenLayer AVSs and DeFi protocols.
- You value a larger security audit set and a longer history of managing billions in TVL.
Pick Bedrock uniBTC if:
- You hold BTC and want to earn restaking yield without converting to ETH.
- You want a single protocol that can handle multiple assets (BTC, ETH, IOTX) for restaking.
- You are comfortable with a smaller TVL and audit footprint for the benefit of BTC exposure.
Verdict
There is no universal winner. ether.fi is the default for ETH liquid restaking, with unmatched liquidity and battle-tested infrastructure. Bedrock uniBTC fills the gap for BTC holders who want to restake. Your asset determines the right tool: stick with ether.fi for ETH; use Bedrock if you’re moving BTC.