About BounceBit (BB)
BounceBit is a platform for re-staking Bitcoin that combines the features of decentralized and centralized finance through its CeDefi architecture. This structure enhances the potential of BTC owners to generate income from diverse sources.
$BB, which serves multiple purposes in the BounceBit ecosystem, is the main utility coin of the BounceBit ecosystem. The holders of $BB are eligible to take part in the platform's dual-token proof-of-stake mechanism. This approach rewards validators with $BB, thereby ensuring network security. Additionally, $BB tokens can be used to pay for transaction fees and the execution of smart contracts.
Furthermore, $BB allows token holders to vote on important protocol changes, including software upgrades. It serves as a medium of exchange and a reserve of value within the platform's infrastructure.
At its core, the architecture of BounceBit utilizes a dual-token Proof of Stake (PoS) consensus mechanism. This mechanism enables validator operations with two tokens, namely $BBTC and $BB. Besides, BounceBit comes with a Native LSD Module that allows stakeholders to delegate their tokens to validators and earn an LST voucher in return. This feature allows for greater flexibility in token utilization.
The platform's foundation is a CeDefi layer with significant security features. The protocol protects users' funds in high-security custodial solutions that utilize MPC technology. Moreover, the Off-Exchange Settlement (OES) feature facilitates secure and efficient access to liquidity from centralized exchanges, with transactions settled externally. This reliable structure ensures that BTC owners can manage and grow their digital assets in a secure, and efficient environment.
The total supply of the $BB token is set at 2.1 billion, with 409.5 million tokens, representing 19.50% of the total supply, available in circulation at the time of its listing. The live price of BB is available and updated in real time on Binance.