diff --git a/packages/contracts-bedrock/.env.example b/packages/contracts-bedrock/.env.example
new file mode 100644
index 0000000000000..41746a4c8e12d
--- /dev/null
+++ b/packages/contracts-bedrock/.env.example
@@ -0,0 +1,5 @@
+# RPC for the L1 network to deploy to
+L1_RPC=
+
+# Private key for the deployer account
+PRIVATE_KEY_DEPLOYER=
diff --git a/packages/contracts-bedrock/README.md b/packages/contracts-bedrock/README.md
index 200a0fd1dc3df..e836ccbb1df05 100644
--- a/packages/contracts-bedrock/README.md
+++ b/packages/contracts-bedrock/README.md
@@ -1,48 +1,89 @@
-# Optimism: Bedrock Edition - Contracts
+# Optimism Smart Contracts (Bedrock)
 
-## Install
+This package contains the smart contracts that compose the on-chain component of Optimism's upcoming Bedrock upgrade.
+We've tried to maintain 100% backwards compatibility with the existing system while also introducing new useful features.
+You can find detailed specifications for the contracts contained within this package [here](../../specs).
 
-The repo currently uses solidity tests (run with Forge). The project uses the default hardhat directory structure, and all build/test steps should be run using the yarn scripts to ensure
-the correct options are set.
+## Contracts Overview
 
-Install node modules with yarn (v1), and Node.js (16+).
+### Contracts deployed to L1
+
+| Name | Proxy Type | Description |
+| ---- | ---------- | ----------- |
+| [`L1CrossDomainMessenger`](../../specs/messengers.md) | [`ResolvedDelegateProxy`](./contracts/legacy/ResolvedDelegateProxy.sol) | High-level interface for sending messages to and receiving messages from Optimism |
+| [`L1StandardBridge`](../../specs/bridges.md) | [`L1ChugSplashProxy`](./contracts/legacy/L1ChugSplashProxy.sol) | Standardized system for transfering ERC20 tokens to/from Optimism |
+| [`L2OutputOracle`](../../specs/proposals.md#l2-output-oracle-smart-contract) | [`Proxy`](./contracts/universal/Proxy.sol) | Stores commitments to the state of Optimism which can be used by contracts on L1 to access L2 state |
+| [`OptimismPortal`](../../specs/deposits.md#deposit-contract) | [`Proxy`](./contracts/universal/Proxy.sol) | Low-level message passing interface |
+| [`OptimismMintableERC20Factory`](../../specs/predeploys.md#optimismmintableerc20factory) | [`Proxy`](./contracts/universal/Proxy.sol) | Deploys standard `OptimismMintableERC20` tokens that are compatible with either `StandardBridge` |
+| [`ProxyAdmin`](../../specs/TODO) | - | Contract that can upgrade L1 contracts |
+
+### Contracts deployed to L2
+
+| Name | Proxy Type | Description |
+| ---- | ---------- | ----------- |
+| [`GasPriceOracle`](../../specs/predeploys.md#ovm_gaspriceoracle) | [`Proxy`](./contracts/universal/Proxy.sol) | Stores L2 gas price configuration values |
+| [`L1Block`](../../specs/predeploys.md#l1block) | [`Proxy`](./contracts/universal/Proxy.sol) | Stores L1 block context information (e.g., latest known L1 block hash) |
+| [`L2CrossDomainMessenger`](../../specs/predeploys.md#l2crossdomainmessenger) | [`Proxy`](./contracts/universal/Proxy.sol) | High-level interface for sending messages to and receiving messages from L1 |
+| [`L2StandardBridge`](../../specs/predeploys.md#l2standardbridge) | [`Proxy`](./contracts/universal/Proxy.sol) | Standardized system for transferring ERC20 tokens to/from L1 |
+| [`L2ToL1MessagePasser`](../../specs/predeploys.md#ovm_l2tol1messagepasser) | [`Proxy`](./contracts/universal/Proxy.sol) | Low-level message passing interface |
+| [`SequencerFeeVault`](../../specs/predeploys.md#sequencerfeevault) | [`Proxy`](./contracts/universal/Proxy.sol) | Vault for L2 transaction fees |
+| [`OptimismMintableERC20Factory`](../../specs/predeploys.md#optimismmintableerc20factory) | [`Proxy`](./contracts/universal/Proxy.sol) | Deploys standard `OptimismMintableERC20` tokens that are compatible with either `StandardBridge` |
+| [`L2ProxyAdmin`](../../specs/TODO) | - | Contract that can upgrade L2 contracts when sent a transaction from L1 |
+
+### Legacy and deprecated contracts
+
+| Name | Location | Proxy Type | Description |
+| ---- | -------- | ---------- | ----------- |
+| [`AddressManager`](./contracts/legacy/AddressManager.sol) | L1 | - | Legacy upgrade mechanism (unused in Bedrock) |
+| [`DeployerWhitelist`](./contracts/legacy/DeployerWhitelist.sol) | L2 | [`Proxy`](./contracts/universal/Proxy.sol) | Legacy contract for managing allowed deployers (unused since EVM Equivalence upgrade)
+| [`L1BlockNumber`](./contracts/legacy/L1BlockNumber.sol) | L2 | [`Proxy`](./contracts/universal/Proxy.sol) | Legacy contract for accessing latest known L1 block number, replaced by `L1Block` |
+
+## Installation
+
+We export contract ABIs, contract source code, and contract deployment information for this package via `npm`:
 
 ```shell
-yarn
+npm install @eth-optimism/contracts-bedrock
 ```
 
-See installation instructions for forge [here](https://github.com/gakonst/foundry).
+## Development
 
-## Build
+### Dependencies
+
+We work on this repository with a combination of [Hardhat](https://hardhat.org) and [Foundry](https://getfoundry.sh/).
+
+1. Install Foundry by following [the instructions located here](https://getfoundry.sh/).
+2. Install node modules with yarn (v1) and Node.js (16+):
+
+    ```shell
+    yarn install
+    ```
+
+### Build
 
 ```shell
 yarn build
 ```
 
-## Running Tests
-
-Then the full test suite can be executed via `yarn`:
+### Tests
 
 ```shell
 yarn test
 ```
 
-The differential tests require typescript to be compiled to javascript.
+### Deployment
 
-## Deployment
+#### Configuration
 
-Create a file that corresponds to the network name in the `deploy-config`
-directory and then run the command:
+1. Create or modify a file `<network-name>.json` inside of the [`deploy-config`](./deploy-config/) folder.
+2. Fill out this file according to the `deployConfigSpec` located inside of the [`hardhat.config.ts](./hardhat.config.ts)
 
-```shell
-L1_RPC=<ETHEREUM L1 RPC endpoint> \
-PRIVATE_KEY_DEPLOYER=<PRIVATE KEY TO PAY FOR THE DEPLOYMENT> \
-    npx hardhat deploy --network <network-name>
-```
+#### Execution
 
-In the `hardhat.config.ts`, there is a `deployConfigSpec` field that validates that the types
-are correct, be sure to export an object in the `deploy-config/<network-name>.ts` file that
-has a key for each property in the `deployConfigSpec`.
+1. Copy `.env.example` into `.env`
+2. Fill out the `L1_RPC` and `PRIVATE_KEY_DEPLOYER` environment variables in `.env`
+3. Run `npx hardhat deploy --network <network-name>` to deploy the L1 contracts
+4. Run `npx hardhat etherscan-verify --network <network-name> --sleep` to verify contracts on Etherscan
 
 ## Standards and Conventions