@BounceBit CeDeFi V2 expansion announcement adds multi-chain access for cryptocurrencies. About the major boopr update includes some key points as follows:
BounceBit launched its latest upgrade, CeDeFi V2, on November 12, 2024, providing multi-chain support for major cryptocurrencies and bridging the gap between CeFi and DeFi.
CeDeFi V2 introduces new yield strategy options, enhanced security, and increased APY rewards, with over $10 million bridged in the first hour of launch.
The platform has seen a significant increase in investment capital, is backed by major industry players and aims to enhance asset management and liquidity for institutional investors.
BounceBit, a Binance-backed Bitcoin staking startup, launched its latest upgrade, CeDeFi V2, on November 12, 2024. The new protocol aims to bridge the gap between CeFi and DeFi, providing users with multi-chain support without having to transfer funds across BounceBit's chain.
The upgrade is designed to improve performance, security and user flexibility, marking a major milestone in the platform's evolution.
Key Features and Improvements of BounceBit CeDeFi V2
CeDeFi V2 introduces several key features that cater to both individual and institutional investors. The platform currently supports multi-chain access for major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Solana (SOL), and Tether (USDT).
This multi-chain support allows users to seamlessly manage their assets across multiple blockchain networks. The upgrade also includes new yield strategy options—Automatic, Fixed, and Manual—giving users more ways to optimize their returns.
Additionally, CeDeFi V2 offers enhanced annual percentage yield (APY) rewards, with over $10 million staked in the first hour of launch.
Enhanced security and efficiency
Security was a key focus for BounceBit when developing CeDeFi V2. The platform streamlines the process of connecting cryptocurrencies on-chain, minimizing potential risks associated with chain switching.
This improvement is especially important for institutional investors who need strong security measures to protect their assets. Jack Lu, BounceBit founder and CEO, emphasized the importance of security and efficiency in the new platform.
“Our CeDeFi V2 platform is designed to leverage the liquidity of centralized exchanges while incorporating the transparency of decentralized systems,” said Lu.
This method aims to provide users with a secure and efficient way to manage assets and access profits across multiple chains. #BBCeDeFi
Organizational adoption and market impact
The launch of CeDeFi V2 has seen significant traction, with inflows doubling to $20 million in transactions on the multi-chain platform.
Backed by industry giants like Binance, Blockchain Capital, and Breyer Capital, BounceBit aims to enhance asset management and liquidity for institutional investors and large-scale traders.
Earlier this year, BounceBit raised $6 million in seed funding, led by Blockchain Capital and Breyer Capital, with contributions from Binance and CMS Holdings. The platform has amassed over $545 million in TVL during its early access period, demonstrating strong market interest and adoption.
Summary
The launch of CeDeFi V2 by @BounceBit marks a significant step forward in bridging centralized (CeFi) and decentralized (DeFi) financial platforms. With multi-chain support and new yield strategies, the platform not only helps users optimize their returns but also enhances security and operational efficiency. CeDeFi V2 has attracted strong interest from major investors and demonstrated its strong ability to attract capital, with more than $10 million bridged in the first hour of its launch. This shows the platform's strong growth potential and influence on the digital financial market, especially in serving institutional investors.
