In the past decade, Bitcoin has been given countless definitions: digital gold, store of value, anti-inflation asset. But in most cases, it remains a 'static' asset—cold-stored in wallets, held in custodial institutions, or dormant in on-chain addresses, becoming the world's largest 'silent capital.' It wasn't until BounceBit appeared that I saw BTC truly 'wake up' in the CeDeFi framework for the first time.
My interest in BounceBit began with its breakthrough of a seemingly unbreakable paradox: how to ensure Bitcoin remains secure while also providing liquidity and yield. In traditional finance, this is akin to making gold generate returns every day; in the crypto world, this concept finally has a practical solution. BounceBit is built on the CeDeFi (CeFi + DeFi) integration model, inheriting the compliance and security of centralized finance while retaining the transparency and openness of decentralization. In my view, this balance is not only a result of technological innovation but also an upgrade in narrative—it transforms BTC from 'static reserve' to 'dynamic capital.'
When I first studied the design of BounceBit Prime, I was amazed by its completeness and foresight. Prime is not a simple yield product but a complete suite of institutional-level on-chain yield strategy systems. By collaborating with traditional financial giants like BlackRock and Franklin Templeton, it tokenizes real-world yield assets (RWA) and introduces them into the on-chain ecosystem. In other words, Prime is like a "return pipeline" that brings real government bonds, funds, and note yields into the crypto world, allowing BTC holders to participate in global asset returns in a compliant and transparent manner for the first time.
This may sound abstract, but imagine this scenario: In the past, your BTC was locked in a wallet, and aside from the paper gains from price fluctuations, it had almost no other use. In the BounceBit Prime model, these BTC can serve as staked assets participating in CeDeFi protocols, earning yields from the real world on-chain, such as U.S. Treasury bonds yielding 4.8% annually, and money market fund yields of 5% or more. This is not "generated from thin air" but a real-world cash flow being redistributed through an on-chain structure.
More importantly, the underlying trust mechanism of BounceBit is guaranteed by a dual layer of CeFi custody and DeFi smart contracts. When BTC is deposited, it is held by the custodian, while the corresponding on-chain mapped assets can participate in DeFi strategies, and the yield distribution is fully verifiable on-chain. The advantage of this system is that it combines the stability of traditional finance with the transparency of Web3: real assets, clear yields, and visible risks.
I understand BounceBit's innovation as a form of "liquidity redefinition." In the past few years, the world of DeFi has been known for "high yields," but it has also been accompanied by high risks, high volatility, and even black-box operations. In contrast, BounceBit's logic does the opposite: it reduces risk premiums through the CeDeFi framework, making yields more "stable." This represents a paradigm shift from "high risk, high yield" to "low risk, sustainable yield."
This design also responds to a real trend on a macro level: The wave of Real World Assets (RWA) on-chain is accelerating. According to Q2 2025 data, the total market size of on-chain RWA has surpassed $15 billion, most of which comes from traditional assets such as U.S. Treasury bonds, funds, and commercial paper. BounceBit's CeDeFi model perfectly embraces this trend, allowing cryptocurrency assets to naturally become a new channel for participating in global financial returns through BTC re-staking.
From a more macro perspective, BounceBit is actually building an "on-chain central bank-like yield layer." BTC plays the role of a reserve asset, while BounceBit is responsible for providing yield generation and re-staking mechanisms. Just like traditional central banks hold foreign exchange reserves and allocate government bond assets to obtain stable returns, BounceBit gives BTC the property of "yielding." The significance of this structure is not just an increase in yield but also the acceleration of BTC's financialization process.
I especially appreciate another dimension of BounceBit: ecological composability. Prime is not a closed product but the core engine of the entire BounceBit ecosystem. Any DeFi project, yield protocol, or liquidity pool can build derivative products based on Prime's asset and yield logic. For example, developers can issue stablecoins based on Prime yield tokens; or allow on-chain lending protocols to use Prime staked assets as collateral, thereby forming a complete DeFi funding cycle. This expands BounceBit's boundaries from "BTC yield protocol" to "BTC yield ecosystem."
The importance of this open architecture is reflected in the current transformation of market structure. More and more funds want to obtain real yields on-chain, rather than just speculative returns. BounceBit connects these seemingly disparate sources of liquidity: "real world yields" and "on-chain liquidity," forming a new type of funding hub. For me, this is not just a project's success but an evolution of crypto finance concepts.
Of course, no system can avoid risks, and BounceBit is no exception. However, unlike traditional DeFi, its risks come more from compliance and custody rather than code vulnerabilities. Fortunately, the BounceBit team places great importance on transparency and risk control: all fund flows, staking certificates, and yield distribution records can be verified on-chain; custodians are all institutions that have been audited and comply with regulations. In addition, BounceBit has introduced a multi-layer clearing mechanism and a reinsurance model to ensure the safety of assets under extreme market conditions.
I once saw in research documents that BounceBit mentioned "establishing CeDeFi as a long-term trust infrastructure." This sentence left a deep impression on me. Because in the past decade, trust in the crypto industry has always been fragile: exchanges have run away, projects have been hacked, and smart contract vulnerabilities have emerged one after another. BounceBit's innovation lies in giving trust a structured expression again — with institutional endorsement and on-chain proof. This is not "de-trust," but "verifiable trust."
From a market perspective, the launch of BounceBit Prime is timely. The market in 2025 is experiencing a phase of "institutional capital returning to crypto." Whether it’s BlackRock launching a BTC ETF or Franklin Templeton increasing its investment in on-chain funds, it all sends a signal: the boundaries of traditional finance are merging with blockchain. BounceBit takes this trend a step further — it not only embraces institutional assets but also allows ordinary users to access the same level of returns on a 1:1 basis. This concept of "yield equality" is one of the aspects I value the most.
Imagine a scenario: a regular user deposits BTC into BounceBit Prime and can enjoy returns managed by top global funds, without the need to open cumbersome offshore accounts or bear heavy compliance burdens. This makes "the right to participate in the global capital market" fair, transparent, and open for the first time.
I believe this is the core spirit of the crypto world — decentralization does not mean disorder; rather, it enables a more reasonable distribution of power, yield, and opportunity. BounceBit realizes this concept through the CeDeFi framework: institutional participation, retail benefit, and on-chain transparency. This "trinity" mechanism is reshaping the fundamental structure of finance.
Looking back at the entire CeDeFi and BTC re-staking track, BounceBit's leading advantage is already very obvious. It not only has a strong partner system (including Binance Custody, Mainnet, Blockdaemon, etc.) but has also established a complete ecological closed loop. From node operation, yield distribution, governance models to developer incentives, BounceBit demonstrates mature systemic thinking. The Prime module, as the core of the ecosystem, undertakes the three functions of asset absorption, yield diversion, and trust transmission.
I even believe BounceBit has the opportunity to become the "Lido + BlackRock hybrid" in the BTC ecosystem: possessing the flexibility of on-chain liquidity while also embodying the stability and scale of traditional finance. As more BTC holders realize the potential of "re-staking," this field may become the next billion-dollar track.
Upon writing this, I suddenly realized that BounceBit is actually answering a question that has run through the cryptocurrency industry for twenty years — "What comes after Bitcoin?"
The answer may be the yield layer of Bitcoin.
When BTC is no longer just a store of value but a bridge participating in global yield circulation, the underlying logic of the entire financial system will be rewritten.
In my opinion, BounceBit Prime is the beginning of this new era. It reconstructs yield and trust, merges tradition with crypto, and awakens BTC from its slumber. One day in the future, when we look back at the CeDeFi revolution of 2025, perhaps BounceBit will be seen as the turning point that truly made Bitcoin "come alive."