What is #bouncebit ? @BounceBit $BB
#BounceBitPrime is a layer-1 (L1) blockchain network that allows Bitcoin (BTC) holders to restake their assets. This allows BTC holders to earn passive income—in other words, to invest their BTC in different ways without locking it in a single location.
This platform leverages Bitcoin's robust security while also providing a system fully compatible with the Ethereum Virtual Machine (EVM).
2. Technology and Structure
Dual-Token Proof-of-Stake (PoS)
To participate as a validator on the BounceBit network, you must stake both BTC (in the form of BBTC) and BB tokens. This structure increases liquidity and leverages Bitcoin's stability.
CeDeFi Integration & MirrorX Usage
The platform combines the advantages of CeFi and DeFi. Thanks to CEFFU’s MirrorX technology and regulated custody solutions, users’ assets can be securely held both centrally and on-chain.
TVL and Yield Strategies
Users can generate passive income through automated or manual strategies (e.g., funding rate arbitrage). These strategies can be accessed through the BounceBit Portal.
BounceClub – The On-chain Web3 Universe
BounceClub enables the creation of dApps with ready-made widgets, allowing you to establish a presence on Web3 without any coding.
3. The Role and Economics of the BB Token
Tokenomics Details
BB, BounceBit’s native token, has a total supply capped at 2.1 billion—a number inspired by Bitcoin’s 21 million supply.
Use Cases
Staking Rewards: Validators are rewarded with BB for verifying transactions and keeping the network secure.
Gas fees: Transactions within the network are paid in BB.
Governance: BB tokens are required to vote in on-chain governance.
4. Funding, Launch, and Ecosystem
Funding and Binance Megadrop
Received $6 million in seed funding (Blockchain Capital, Breyer Capital, YZi Labs) by December 2024. It was one of the first projects to achieve TGE through Binance Megadrop in May 2024.
TVL and Integrations
According to CoinGecko data, the TVL (Total Value Locked) level has reached billions of dollars. Even large assets like the Franklin Templeton fund have integrated with the platform.
5. Advantages & Risks: Brief Overview
Advantages Risks / Considerations
More efficient use of Bitcoin assets through BTC retaking Regulatory risks and uncertainty about security/continuity due to CeFi integration
EVM compatibility, broad developer support The project's young age may not be sufficiently tested.
Various income streams: arbitrage, staking, dApp usage Potential inflationary pressures brought on by token supply and vesting plans.
Conclusion
BounceBit offers a robust CeDeFi solution for users looking to turn their BTC holdings into passive income sources. It benefits from Bitcoin's security while also boasting EVM compatibility and robust yield strategies. However, investors should exercise caution due to factors such as CeFi integration, regulations, and its young project.