BounceBit is the first Layer 1 blockchain specifically designed to enhance the usability of Bitcoin (BTC) in the decentralized finance (DeFi) sector. It allows users to stake and re-stake BTC without giving up asset custody, earning on-chain rewards. The project employs a dual-token architecture, including the native token BB and the Bitcoin-pegged BBTC, both of which participate in the network's proof-of-stake (PoS) mechanism. BounceBit is compatible with the Ethereum Virtual Machine (EVM), making it convenient for developers to deploy smart contracts.

BounceBit has pioneered the CeDeFi (centralized-enabled decentralized finance) model, combining the security of compliant custodial institutions with the flexibility of decentralized protocols, lowering the participation threshold for institutions and ordinary users. Its founder, Jack Lu, has a strong background in finance and blockchain, and the project has received investment support from several well-known institutions, including Blockchain Capital and Binance Labs.

Overall, BounceBit is committed to breaking the traditional limitations of Bitcoin as a store of value, promoting diversified development of BTC in on-chain financial applications and yield generation, and becoming an important platform for Bitcoin re-staking and DeFi innovation. @BounceBit @bounce_bit#BounceBitPrime and $BB