BB Series (5): Activating the Vitality of the Bitcoin Ecosystem
The Bitcoin ecosystem has felt a bit too quiet over the years, with many holders being overly cautious, leaving BTC just sitting in cold wallets, doing nothing, which is simply a waste. The BounceBit project has emerged to ignite this vitality, transforming Bitcoin from a mere 'collectible' into a money-making tool. It particularly targets those actively traded BTC, such as those flowing back and forth on EVM-compatible chains and centralized exchanges. By converting to BTCB or WBTC, and simply bridging to the platform, users can engage in CeDeFi.
The activation method is quite intuitive, primarily relying on multiple returns to attract users: interest from CeFi, mining rewards from PoS mechanisms, and various opportunities within the DeFi ecosystem. Users deposit BTC, exchange it for BBTC, then stake it to receive stBBTC, and continue to invest it into shared security clients or dApps, maintaining security while accumulating returns. The best part is that there's no need to directly touch the Bitcoin main chain, allowing for gradual accumulation of rewards, which is tailor-made for conservative holders. In the past, BTC could only sit idle; now it can be lent, arbitraged, and even integrated with real-world assets, significantly broadening its application scenarios.
BounceBit also created a BounceClub, akin to an ecological club, making it as easy for developers to submit smart contracts as it is to list apps on the Apple Store, avoiding redundant constructions and instantly revitalizing the ecosystem. Users enjoy playing, and the total value locked (TVL) naturally rises, making the network more stable. Overall, this approach not only addresses the pain point of idle BTC but also expands its usability, shifting the entire Bitcoin ecosystem from passive appreciation to active participation. The future will undoubtedly be more vibrant, attracting more fresh blood into the ecosystem.
