In the past month, Bitcoin has risen from the bottom of 59,000 to the present, and has strongly exceeded 82,500. It has risen by more than 23,500 dollars in a month. Bitcoin ecological currencies have obviously become popular. So which coins have great potential? Today, let's take a good look at the Bitcoin ecosystem BounceBit: 👇🏻
BounceBit is pioneering the CeDeFi infrastructure, providing institutional-grade yield products, re-staking use cases, and CeDeFi as a Service, making high-yield opportunities accessible to everyone.
The BounceBit chain is a BTC and $BB secured dual-token PoS layer 1 that leverages the security of Bitcoin with full EVM compatibility.
By designing the Liquidity Custody Token (LCT) and working with CEFFU, users can earn tangible interest from CeFi and use LCT for re-staking and on-chain DeFi farming.
Bounce Bit Project Background
Established the first decentralized auction market on the Bitcoin chain.
In the subsequent Bitcoin ecosystem boom brought about by Inscription, Bounce Finance launched Bounce Auction, which is dedicated to issuing Bitcoin ecosystem projects.
The platform has launched several important projects such as the cross-chain bridge MultiBit, the stablecoin BitStable and the domain name integration Bdid. The golden shovel token $AUCTION has increased by 4 to 5 times in half a year.
The Bitcoin re-staking public chain BounceBit launched today is designed to create more possibilities for Bitcoin ecological finance and expand asset use cases.
In its seed round of financing in February 2024, BounceBit received investment from Blockchain Capital and Breyer Capital.
CMS Holdings, Bankless Ventures, Matrixport Ventures, OKX Ventures and other institutions participated in the investment of US$6 million.
Among them are investors from the Eigen Layer team, the largest re-staking project on Ethereum, and Berachain, another Bitcoin ecosystem project.
Bounce Bit Project Highlights
Bitcoin Restaking: BounceBit builds Bitcoin Restaking infrastructure, ensuring fund security through regulated custody services of Ceffu, Mainnet Digital, and Fireblocks. When assets generate interest through arbitrage strategies managed by experienced asset management entities, users are rewarded with a Bitcoin-pegged version called bounceBTC ($BBTC), which can be delegated to node operators, who return the pledged certificate ($stBTC) to the pledger. This liquid pledged derivative can then be re-pledged to other shared security clients (SSCs) such as sidechains, bridges, and oracles.
Dual-Currency PoS: Dual-Currency PoS is a hybrid consensus mechanism where each validator can accept both $BBTC and or $BB tokens. This system expands the stakeholder base and weaves an extra layer of resilience and security into the network consensus structure.
BounceClub: BounceClub can be used as an on-chain space where users can use pre-built applets to create DeFi experiences. No code is required and it can be easily integrated from the App Store.
Liquid Custody: BounceBit introduces the concept of "Liquid Custody" to keep collateral assets liquid and provide more opportunities to earn returns. When users deposit assets into BounceBit, they will receive a Liquid Custody Token (LCT), which represents their assets being custodied at a 1:1 ratio. These tokens can be cross-chained to BounceBit and used further.
Bounce Bit Value Proposition and Mission
The project's mission is to make high-yield opportunities in Bitcoin assets usually only available to quantitative and top asset management companies accessible to more people. BounceBit aims to bring the combined benefits of transparent CeFi and DeFi to the masses.
BounceBit is based on the idea that promoting Bitcoin development should mainly involve using assets without changing the Bitcoin blockchain. It effectively combines the advantages of centralized finance (CeFi) and decentralized finance (DeFi) by utilizing funding rate arbitrage and creating on-chain certificates for re-staking and mining. This integration brings opportunities for Bitcoin to generate better returns and be more widely used. @BounceBit
