$BB BounceBit became the first project to join Binance's new platform Megadrop. The project's cryptocurrency, BB, was listed on May 13.
What is BounceBit?
BounceBit is a layer 1 blockchain network that allows Bitcoin (BTC), which cannot be staked under normal conditions, to be staked and "restake".
BounceBit, a proof of stake (PoS) network, offers a blockchain layer where BTCs can be staked. Thus, it gives BTC a new purpose and allows the creation of a decentralized finance (DeFi) ecosystem on Bitcoin.
BounceBit is also an ecosystem that works compatible with the Ethereum Virtual Machine (EVM) and BNB Chain. Thanks to this, cryptocurrencies such as BTCB and WBTC can also be re-stake.
The security of the network is provided by validators who have staked both BTC and BounceBit tokens.
BB’s maximum supply is capped at 2.1 billion, inspired by Bitcoin’s fixed supply of 21 million.
