Balance’s BB token is the native utility coin of BounceBit, the first Layer‑1 blockchain focused on Bitcoin restaking, launched in 2024. It has a fixed 2.1 billion token supply, with roughly 409.5 million (~19.5%) initially circulating . BB is integral to the ecosystem: users stake BB alongside BTC in a unique dual‑token Proof‑of‑Stake mechanism, earn staking rewards, pay gas fees, and participate in governance votes on upgrades . Token allocation includes 35% for long‑term staking rewards, 21% to investors, 10% to the team, and 8% for the Binance Megadrop launch event .
