Crypto Ahmet
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๐ฑ๐ฅBitcoin's Sleeping Power Has Awoken! A Revenue Explosion is on the Way with BounceBit!๐๐
The #BounceBitprime project is a Layer-1 blockchain project focused on CeDeFi (Centralized + Decentralized Finance), offering an innovative approach to the Bitcoin ecosystem. To explain in detail: @BounceBit $BB
Overview and Purpose
#BounceBit is a protocol that allows Bitcoin holders to stake their assets and even earn additional returns by re-staking. This transforms Bitcoin from a mere store of value into an active financial product.
The platform combines the security of CeFi with the yield potential of DeFi, making institutional-grade products accessible to retail users.
Technology and Architecture
BounceBit utilizes a dual-token Proof-of-Stake (PoS) architecture. Validators stake both BTC and the platform's native token, BB, ensuring security and earning rewards.
It also offers full EVM (Ethereum Virtual Machine) compatibility, enabling seamless integration into DeFi ecosystems like Ethereum and BNB Chain.
LCT (Liquidity Custody Tokens) used on the platform are powered by Ceffu's MirrorX technology, enabling CeFi assets to be mirrored on the chain.
Product and Ecosystem Components
BounceBit Chain: The main blockchain providing the CeDeFi infrastructure, combining Bitcoin's security with EVM compatibility.
BounceBit Portal: A retail-focused platform offering users arbitrage-based yield strategies, CeDeFi mining like "In and Out," and cross-chain transactions.
BounceClub: An AI-powered aggregator platform in the Web3 universe where users can create their own dApps without coding knowledge.
Funding, Launch, and TVL
BounceBit received approximately $6 million in seed funding in February 2024, led by Blockchain Capital and Breyer Capital; YZi Labs (formerly Binance Labs) also joined in April.
In May 2024, it became one of the platforms that held its initial token offering with the Binance Megadrop.
After early access, the protocol attracted attention by surpassing $600 million in TVL (Total Value Locked).
Security, Regulation, and Risks
BounceBit uses regulated custody solutions in partnership with Mainnet Digital and Ceffu.
The platform stands out for its KYC/KYT/AML processes, institutional security protocols, and real-time risk monitoring mechanisms; it also holds a BVI (British Virgin Islands) investment license.
However, phishing scams related to the project have also been reported. It emphasized the need to be wary of fake airdrop sites.
Bitrue Support
Summary Table
Feature Details
Purpose: To provide returns to BTC holders through restaking
Technology: Dual-token PoS, EVM-compatible Layer-1, CeFi + DeFi integration with LCT
Product: Portal (strategies, mining), Chain (built-in blockchain), Club (dApp)
Funding & Launch: $6M seed, Binance Megadrop listing, $600M+ TVL
Security & Risks: Regulated custody, licensed operation, phishing warning
BounceBit is an innovative protocol that leverages Bitcoin's potential, bridging the gap between retail users and institutions with its CeDeFi approach. However, it's important to carefully conduct your own research regarding technical risks and fraud before investing.
#CryptoIn401k #ETHBreaks4000 #BTCUnbound
Overview and Purpose
#BounceBit is a protocol that allows Bitcoin holders to stake their assets and even earn additional returns by re-staking. This transforms Bitcoin from a mere store of value into an active financial product.
The platform combines the security of CeFi with the yield potential of DeFi, making institutional-grade products accessible to retail users.
Technology and Architecture
BounceBit utilizes a dual-token Proof-of-Stake (PoS) architecture. Validators stake both BTC and the platform's native token, BB, ensuring security and earning rewards.
It also offers full EVM (Ethereum Virtual Machine) compatibility, enabling seamless integration into DeFi ecosystems like Ethereum and BNB Chain.
LCT (Liquidity Custody Tokens) used on the platform are powered by Ceffu's MirrorX technology, enabling CeFi assets to be mirrored on the chain.
Product and Ecosystem Components
BounceBit Chain: The main blockchain providing the CeDeFi infrastructure, combining Bitcoin's security with EVM compatibility.
BounceBit Portal: A retail-focused platform offering users arbitrage-based yield strategies, CeDeFi mining like "In and Out," and cross-chain transactions.
BounceClub: An AI-powered aggregator platform in the Web3 universe where users can create their own dApps without coding knowledge.
Funding, Launch, and TVL
BounceBit received approximately $6 million in seed funding in February 2024, led by Blockchain Capital and Breyer Capital; YZi Labs (formerly Binance Labs) also joined in April.
In May 2024, it became one of the platforms that held its initial token offering with the Binance Megadrop.
After early access, the protocol attracted attention by surpassing $600 million in TVL (Total Value Locked).
Security, Regulation, and Risks
BounceBit uses regulated custody solutions in partnership with Mainnet Digital and Ceffu.
The platform stands out for its KYC/KYT/AML processes, institutional security protocols, and real-time risk monitoring mechanisms; it also holds a BVI (British Virgin Islands) investment license.
However, phishing scams related to the project have also been reported. It emphasized the need to be wary of fake airdrop sites.
Bitrue Support
Summary Table
Feature Details
Purpose: To provide returns to BTC holders through restaking
Technology: Dual-token PoS, EVM-compatible Layer-1, CeFi + DeFi integration with LCT
Product: Portal (strategies, mining), Chain (built-in blockchain), Club (dApp)
Funding & Launch: $6M seed, Binance Megadrop listing, $600M+ TVL
Security & Risks: Regulated custody, licensed operation, phishing warning
BounceBit is an innovative protocol that leverages Bitcoin's potential, bridging the gap between retail users and institutions with its CeDeFi approach. However, it's important to carefully conduct your own research regarding technical risks and fraud before investing.
#CryptoIn401k #ETHBreaks4000 #BTCUnbound
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.ย See T&Cs.