What is BounceBit (BB)?
BounceBit (BB) is a Bitcoin staking chain with an innovative CeDeFi framework. Through CeFi and DeFi frameworks, BounceBit enables BTC holders to earn yield from multiple sources.
BB tokens have multiple uses on the BounceBit platform:
Staking: Users can stake BB to actively participate in the PoS dual-token staking mechanism. Protocol Incentives: Tokens are paid as staking rewards to validators who secure the network. Gas: BB is the denomination of gas fees required to conduct transactions and execute smart contracts. Governance: Users can use BB to participate in on-chain governance, such as voting on protocol upgrades. Currency: BB can be used as currency on the BounceBit platform, and it can be used as a medium of exchange or a store of value in various applications and infrastructures.
BounceBit's layer 1 consists of the following components:
Dual-token PoS, a hybrid consensus mechanism where each validator can accept $BBTC and $BB tokens. Native LSD module, allowing staking to be delegated to validators and receiving LST vouchers in return
BounceBit has a basic CeFi layer, which includes regulated custody using MPC wallets to store funds in a secure custody solution, and OTC settlement with secure access to CEX liquidity.
BB will also be launched at 18:00, and the launch price is also around 1u. Stay tuned
