BounceBit's Q2 2024 Financial Report highlights significant developments, starting with the launch of the $BB token through Binance Megadrop. This event drew attention for its integration of Bitcoin restaking and CeDeFi (Centralized-Decentralized Finance), aimed at expanding Bitcoin's utility beyond just a store of value.

On May 13th, BounceBit officially launched its Mainnet, introducing an innovative Dual Token Proof-of-Stake (DTPoS) mechanism. This allows both $BTC and $BB tokens to be staked for network security. The BounceBit Chain, a Layer 1 blockchain specialized for CeDeFi activities, facilitates delta-neutral yield generation for $BTC and $USDT, along with efficient off-exchange trading.

Through Megadrop, the Water Margin TVL Event, and the BounceClub Testnet, over 250 million $BB tokens were distributed to more than 2.8 million unique addresses, rewarding early supporters of the protocol.

With the Mainnet launch, BounceBit introduced "Liquid Custody," allowing assets to remain liquid while generating yields. Currently, $350.94 million are locked in Liquid Custody, comprising 5,375 $BBTC and 24 million $BBUSD. In Q2 and Q3, BounceBit launched several key products within the CeDeFi framework, including BounceBit Premium, Easy, Superfast, and a collaboration with Ethena Labs. These products generated a total profit of over $9 million in BTC and USDT.

The BounceBit Chain's unique PoS system has attracted over 4,300 BTC and 57 million $BB in stakes, with a Total Value Locked (TVL) of more than $287 million in Liquid Staking. The network is secured by 25 professional node operators and has seen over 2.58 million unique accounts and 4.18 million transactions within three months.

Looking ahead, BounceBit plans to release "In AOut," a CeDeFi liquidity incentive mechanism in Q3/Q4. This will introduce CeDeFi Liquidity Mining (CLM), where users can mine tokens by trading on Binance, with rewards based on transaction volume.