@BounceBit BTC tokenization transforms ALM from experience into scheduling
A certain market-making and issuance institution has tokenized BTC underlying assets into stBBTC, where the front office remains exposed to spot markets, and the back office does just one thing: making the three revenue legs of market-making, stability, and PoS into orchestrable routes. Two weeks before the event season, the weight line is linearly raised to the set target;
48 hours after the event, it falls back as planned; the night market maintains a baseline leg of PoS to smooth cash flow. In the past, cross-platform redemptions and authorizations created lengthy gaps, but now it only requires modifying a strategy document, with switching costs stabilized in single-digit basis points. In the quarterly review, three curves best illustrate the situation: the utilization rate of tokens remains around seventy percent, the “target volatility maintenance” exceeds ninety percent, and the failure retry rate is kept at the low end of the percentile; the market-making depth remains smooth after reaching the target thirty minutes before the event, and no gaps appear during crowded redemption periods. More importantly, the reporting language is unified: finance uses “token hash—route snapshot—revenue breakdown” to clarify the source, risk control sets thresholds around “available liquidity ratio” and routing costs, and investment communication aligns with “unit principal output curve”.
@BounceBit essentially transforms BTC from “idle assets” into “active assets”, upgrading ALM from empiricism to orchestrable engineering.
