#BounceBit
BounceBit’s latest upgrade combines centralized and decentralized finance to form CeDeFi V2, a protocol that grants users multichain support without having to go through BounceBit’s chain
Binance-backed Bitcoin staking startup BounceBit has launched its latest upgrade dubbed CeDeFi, which stands for Centralized-Decentralized Finance. The platform aims to combine both sides to enhance its operational efficiency and strengthen security measures.
Shortly after its upgrade launch on Nov. 12, BounceBit saw a 2X increase on its inflow, amounting to $20 million consisting of Bitcoin (BTC), Tether (USDT), (ETH), Binance Coin (BNB) and Solana (SOL) trades across the CeDeFi V2 multi-chain platform.
The upgrade introduces multi-chain support for ETH, BNB, SOL, and BTC without users having to bridge funds through BounceBit’s chain.
Other key features included in the upgrade encompass user flexibility, new Auto, Fixed, and Manual yield strategy options, as well as boosted APY rewards, with over $10 million bridged in the first hour.