#BounceBit is an infrastructure project that provides products where users can restake various types of BTC assets. BounceBit is an innovative solution that allows BTC holders to earn profits simultaneously from both DeFi and CeFi.
BounceBit is built with the goal of providing a comprehensive infrastructure layer including products such as sidechain, oracle, bridge, VM (Virtual Machine), DA (Data Availability),... for users to earn profits through BTC restaking activities. The flagship product is BounceBit Chain - a Layer 1 blockchain with a Proof of Stake (PoS) mechanism highly compatible with EVM that allows BTC holders to earn profits across multiple networks.
Shared Security Clients
Shared Security Clients (SSC) are a set of restaking applications on BounceBit including sidechain, oracle, bridge, VM (Virtual Machine), DA (Data Availability),... The integration of SSC will open up many opportunities for participants in the ecosystem as BounceBit implements smart contracts from the Bitcoin network.
Users on BounceBit are provided with multiple choices on how to use their BTC as follows:
• Delegate their BTC by staking for validators in BounceBit POS Chain. Then, staking users will receive the liquid staking token stBTC. From here, users can use stBTC to continue staking or what is called restaking into SSC to receive liquid restaking token.
• Users can stake BTC directly into SSC as a bridge, oracle, or participate in DeFi activities such as token swaps, yield farming,...
BounceBit PoS Chain
BounceBit PoS Chain is a Layer 1 blockchain operating in SCC using a Proof of Stake consensus mechanism but is slightly different from other Layer 1s. Specifically, BounceBit's PoS structure combines 50 validators evenly divided into 2 groups including BTC stakers and the remainder for BounceBit Token stakers. This approach is referred to by the project as Dual-Token PoS - a strategic improvement designed not only to expand participation in the network but also to add an extra layer of resilience and security to the network's consensus mechanism.
BounceBit PoS Chain is designed to be fully compatible with EVM and Solidity - the programming language used for smart contracts on Ethereum. The decision on this compatibility was made to ensure the architecture and functionality of the network so that applications from Ethereum can transition to BounceBit PoS Chain more easily in the future.
#BounceBit CeFi + DeFi
BounceBit provides a convertible infrastructure that facilitates the flow of funds from Bitcoin from both CeFi and DeFi. Designed to increase TVL in its ecosystem, BounceBit simultaneously leverages the strong security of CeFi and the profit-generating, flexible opportunities of decentralized finance DeFi. The profit optimization process for users from BounceBit is as follows:
- BTC to BTCB: Users transfer their BTC on the Binance exchange to BNB Chain (BEP20) and it will automatically be converted to BTCB - a type of Wrapped BTC on BNB Chain.
- Participate in the Water Margin Event: Users send their BTCB on the BounceBit Water Margin TVL event page to earn profits from BounceBit.
- CeFi Regulated Custody: BTCB has been deposited and then transferred to custody by Mainnet Digital - a managing entity that ensures the highest standards of security and protects the integrity of BounceBit's TVL. Upon participation, users will receive the liquid staking token BBTC in the form of a voucher.
- Interact within the BounceBit ecosystem: Users transfer their BBTC to BounceBit PoS Chain to engage in activities within the ecosystem such as staking for validators to receive liquid restaking token stBBTC. From here, users can use stBBTC to participate in projects within the ecosystem such as DeFi, bridge, oracle,...
BTC Bridge
BTC Bridge is a product developed by BounceBit to facilitate the transfer of BTC from the native chain of Bitcoin and various EVM chains into the BounceBit ecosystem. BTC transferred into the BounceBit ecosystem will take the form of BBTC to ensure consistency and ease of use on the platform.
