What is BounceBit and how does it work?
BounceBit is the first native restaking chain for BTC, offering a "dual-token staking" system that leverages the security of Bitcoin, while ensuring full compatibility with the Ethereum Virtual Machine.
This innovative platform secures its network by staking both Bitcoin and BounceBit tokens, providing a solid foundation for restaking products in the DeFi ecosystem.
Features of BounceBit
One of the important features of BounceBit is the introduction of a unique Proof of Stake (PoS) ecosystem. This encourages validators to stake both BounceBit tokens and BTC, adding to network security as well as more efficient operations.
❇️ BTC restaking infrastructure: Provides restaking infrastructure for various products.
❇️ Dual-token staking system: Validators stake BTC and the native BounceBit token, connecting the Bitcoin and Ethereum ecosystems.
❇️ CeFi + DeFi yield mechanism: Combine yield mechanisms from Centralized Finance and Decentralized Finance.
❇️ Secure ecosystem infrastructure: BTC restaking secures critical infrastructure.
❇️ Earn yield on multiple networks: Gives BTC holders the ability to earn yield on multiple networks.
Binance will list BB Token on 13 May 2024 10:00 (UTC) and open trading on BB/BTC, BB/USDT, BB/BNB, BB/FDUSD and BB/TRY
Note:
To receive BB tokens for free, users must be eligible and block BNB for a specific period, and rewards are calculated based on block duration and completed tasks.
It is essential to be active and take all the necessary steps to benefit from the benefits offered.
