How much development potential does the BounceBit project created by BlackRock Fund Custody really have? Let’s dive in in 1 minute.
The BounceBit project is a re-staking protocol based on the Bitcoin ecosystem.
Its token BB not only serves as gas for transactions on this protocol, but BB stakers can also share 50% of the protocol's revenue. The main source of project income comes from institutional investments in government bonds and DeFi strategies.
The primary goal is to meet the income needs of BTC holders.
As Bitcoin reaches the critical milestone of 120,000, we can see that the trading volume and market enthusiasm for Bitcoin have at times been overshadowed by Ethereum. Therefore, further increasing the returns for BTC holders is a key factor in revitalizing the BTC market. BounceBit's competitors are undoubtedly EigenLayer and Babylon. From the project's background and economic model, BounceBit has a more promising development outlook.
Risks and Investment Suggestions
Currently in a bull market phase, U.S. Treasury yields are stable, and good news is emerging continuously. Coupled with the launch of the Binance airdrop platform, there is definitely no issue with enthusiasm and liquidity. The token BB will unlock 120 million BB in August. If the market can withstand selling pressure, the project will be more acceptable. After all, the cryptocurrency world is a place that rewards those who are bullish.
While the bull market is good, be wary of the good news running out!!!
This is a project that capitalizes on the BTC ecosystem's dividends. Caution is needed in the staking layer, and cross-chain bridges may be vulnerable to hacker attacks.
@BounceBit #BounceBitPrme $BB