#BounceBitPrime is an innovative Centralized-Decentralized Finance (CeDeFi) protocol, built on a Layer 1 blockchain, aimed at providing Bitcoin (BTC) holders with a utility that goes beyond mere value storage. This enables:
Users can earn additional returns on their Bitcoin by holding and re-staking them.
The platform is compatible with EVM (Ethereum Virtual Machine) and BNB Chain, facilitating the integration of the Bitcoin ecosystem into the world of decentralized finance, allowing the use of tokens like WBTC and BTCB.
Security auditors ensure the network's security by storing both Bitcoin and the native BounceBit token (BB).
BounceClub provides an easy-to-use solution for building decentralized applications (dApps) on-chain without requiring programming knowledge.
The platform aims to create broad opportunities for liquidity and leverage by integrating centralized finance (CeFi) and decentralized finance (DeFi).
What makes it unique?
BounceBit is a protocol developed to address the vulnerabilities left by the collapse of platforms like Celsius and Genesis. It has seen rapid growth, with its Total Value Locked (TVL) exceeding $600 million during the early access phase.
What is the BB token (BB Coin)?
BounceBit is the governance and utility token for the BounceBit ecosystem. It serves multiple functions within the platform:
Governance: BB token holders have voting rights on significant protocol changes, updates, and governance processes.
Staking and Reward Mechanism: Validators who stake BB tokens receive rewards while maintaining network security.
Gas Fees: BB tokens are used to pay gas prices during transactions.
Security: MPC (Multi-Party Computation) supports secure custody solutions, and mechanisms like Off-Exchange Settlement (OES) provide additional liquidity and security.
Supply Information
The maximum supply of BB tokens is 2,100,000,000 (2.1 billion), designed to parallel Bitcoin's supply of 21 million.
Published articles indicate a circulating supply of 409.5 million BB tokens as of mid-2024.
Brief Comparison Table
Features: BounceBit token (project) BB
Core Function: Bitcoin recovery, integration of centralized finance (CeDeFi) with decentralized finance (DeFi), governance, reward system, gas payment.
Security Model: Bitcoin staking auditors + Bitcoin, MPC custody, decentralized application (DApp) transactions, gas.
Token Supply: 2.1 billion (maximum), approximately 409.5 million in circulation
Point of Differentiation: Launching the Binance Megadrop platform, rapid growth of TVL value, governance participation, staking rewards.
Summary
BounceBit is an innovative CeDeFi protocol that allows Bitcoin holders to use their assets as active assets rather than just storing them. The BB token is a limited supply token within this ecosystem, with pivotal roles such as governance, rewards, and transaction fee payment.