#BounceBit is called BounceBit (BB) coin, which is a cryptocurrency based on blockchain technology. Its main features and uses are as follows:
• Native asset of BounceBit platform: BB coin is the native token of BounceBit platform, which is a re-staking chain designed for Bitcoin, allowing users to earn profits by re-staking BTC or BTC's liquid staking tokens (such as stBBTC).
• Multiple uses: BB coin has multiple uses on the BounceBit platform, including:
• Users can actively participate in the PoS dual-currency staking mechanism by staking BB coins.
• BB coins can be paid as staking rewards to validators who protect network security.
• Gas fees required to conduct transactions and execute smart contracts need to be paid in BB coins.
• BB coins can be used as liquidity and universal currency on the BounceBit platform, with composability, interoperability and cross-chain compatibility.
• Holders can use BB coins to participate in on-chain governance, such as protocol upgrade voting.
• Token Economics: The total supply of BB coins is capped at 2,100,000,000BB, a number that recognizes the total supply of Bitcoin, which is 21 million. A portion of the tokens will become liquid when the mainnet is launched, and the remaining tokens will be distributed as future equity rewards or vested in the next few years.
• Market Performance: According to data, the current price of BB coins is $0.45, slightly lower than the highest price of $0.5508, with a market value of $187,050,179. Overall, the development of BB coins is still optimistic.
• Technical Features: BounceBit emphasizes that it is not a Layer2 built on the Bitcoin blockchain, but a Layer1 ecosystem using the PoS mechanism, with EVM compatibility and native BTC security and compatibility.
• Future Outlook: BounceBit's token economics represents a major leap forward in the integration of traditional financial concepts with cutting-edge blockchain technology. By incorporating Bitcoin into its PoS network and providing innovative staking solutions, BounceBit not only improves the practicality of BTC, but also sets new standards for token economics.
