Utility of the $BB Token in the BounceBit Ecosystem
The $BB token is the native asset of BounceBit, designed to function as the central component within its CeDeFi ecosystem. It has a limited supply of 2.1 billion and fulfills various technical and economic functions aimed at promoting participation and the proper functioning of the network.
In the Proof of Stake (PoS) consensus mechanism employed by BounceBit, validators must stake both BB and $BTC. This dual model incorporates the recognized security of Bitcoin ($BTC) while incentivizing active participation through $BB. Users who participate in staking or delegation receive rewards in both cryptocurrencies, with 35% of the total supply of $BB allocated to this program, aimed at promoting system stability.
