Brothers, hello everyone, I am trader Zhu Yici. I have been trading $BB frequently recently. Many people don’t know what it does. Today I will introduce BB coin to you in detail.
BounceBit is a BTC re-pledge chain designed specifically for Bitcoin. The BTC re-pledge infrastructure it builds provides a base layer for different re-pledge products, which is secured by Mainnet Digital and Ceffu's regulated custody.
It uses a BTC+BounceBit hybrid PoS mechanism for verification. BounceBit solves the trust problem of the underlying BTC assets through multi-party custody and creates BBTC for DeFi interactions on the Bounce mainnet.
Native BTC assets are used to participate in low-risk arbitrage strategies on various centralized exchanges. In addition, under the hybrid token staking mechanism, staking with BBTC+BB (BounceBit's native token*) can generate LSD tokens, further obtaining node staking rewards and re-staking income.
By combining centralized custody and sidechains, BounceBit aims to solve the long-standing trust issues of sidechains while revitalizing the BTC ecosystem, which will reduce transaction fees and unlock the financial potential of BTC, enabling it to be used in more scenarios such as DeFi, games, and social networking. #BBCeDeFi
BounceBit's core goal is to solve the problems of interest generation on Bitcoin assets, inefficient utilization of idle BTC, lack of innovation, and high gas fees. Its fundamental purpose is to provide diversified revenue channels to alleviate the challenge of Bitcoin's lack of smart contract functions. The current solutions to enhance the BTC ecosystem mainly include Layer-2 and sidechain technology.
BounceBit takes a unique approach to solving some of the challenges in the Bitcoin ecosystem by building an independent PoS layer-chain. Under this framework, nodes ensure the security of the chain by staking BTC and BounceBit tokens, and the connection between BounceBit and BTC is established at the asset level, not the protocol level.
By combining centralized hosting and sidechain technology, BounceBit attempts to overcome the consensus and trust issues of sidechains. In the current environment, this hybrid model of centralization and decentralization may provide a compromise solution to solve technical and trust issues. BounceBit's design philosophy and the background of the development team give it an advantage over the competition and open up space to explore new opportunities.
As a Cefi+Defi product, BounceBit has certain innovations in its product model. By combining centralized and decentralized mechanisms, it introduces the tripartite custody mechanism into the trust solution, generates new EVM chain assets to activate the financial attributes of native assets, and may become a solution for the new Bitcoin ecosystem.
