The "BB" token is the native cryptocurrency of BounceBit, a new Bitcoin "restaking" chain. It aims to integrate Bitcoin more deeply into the DeFi ecosystem by allowing users to earn yields on their BTC holdings through a combination of decentralized and centralized finance mechanisms.
The $BB token has multiple functions within the BounceBit network: it is used to pay for gas fees, provides governance rights for on-chain decisions, and can be staked alongside Bitcoin to secure the network and earn rewards. The network's unique dual-token staking system, utilizing both BB and Bitcoin, is a key feature that provides a higher level of security. With a maximum supply of 2.1 billion tokens, the BB token is central to the platform's vision of creating a robust and efficient DeFi ecosystem on Bitcoin.
