What Is BounceBit?
First native BTC re staking chain: Users deposit Bitcoin via regulated custody and receive BBTC tokens (1:1 pegged), which can be staked and used across BounceBit’s ecosystem—this enables earning yields without sacrificing custody.
Dual-token Proof‑of‑Stake: Validators stake both BBTC (Bitcoin-backed token) and BB (the platform’s native token) to secure the network. This dual-staking approach is known as Shared‑Security Clients (SSC), enhancing network integrity.
EVM Compatibility + CeDeFi model: Built for Ethereum-style smart contracts, BounceBit merges centralized finance (CeFi) and decentralized finance (DeFi), allowing users to earn yields from both sides in a regulated environment.
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📌 Key Milestones & Backing
Founded in 2023 by Jack Lu, previously co‑founder at Bounce Finance and partner at NGC Ventures. Central team based in Singapore.
Raised $6 million in a seed round (February 2024), led by Blockchain Capital and Breyer Capital with strong support from Binance Labs and other VCs.
Mainnet's launched on May 13, 2024, across UTC 02:30, followed by a BB token airdrop from 08:30 to 10:00 UTC. BB token was listed on Ku Coin, Gate.io, Bitget soon after.
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⚙️ Architecture & Tokenomics
BBTC & BB tokens:
BBTC: A representation of locked Bitcoin, used for staking and other yield-bearing functions.
BB token: Used for staking, gas fees, governance, and protocol incentives.
Yield strategies:
Validator staking rewards
DeFi yield farming and liquidity provision
CeFi mirror layer via partners like CE FFU and Mainnet's Digital
Institutional-grade products including fixed‑income vaults and tokenized RWAs via BB Prime.
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🔐 Security & Risks
Phishing scams at launch: The official launch was accompanied by widespread phishing attempts. A fake domain (bouncbit[.]io) appeared as a top search result; security teams strongly warned users to rely only on official BounceBit links and domains.
