$BB was the first token to be launched through Binance Megadrop. The listing grabbed attention for Bitcoin restaking and CeDeFi to expand the capabilities of Bitcoin beyond traditional storage of value.
BounceBit Mainnet & Airdrop
On May 13th BounceBit officially launched its Mainnet with an innovative Dual Token Proof-of-Stake mechanism (DTPoS) that allows for the staking of $BTC and $BB for network security. BounceBit Chain is the Layer 1 specialized for CeDeFi activity, enabling the delta-neutral earning of yield for $BTC and $USDT in combination with efficient trading via off-exchange settlement.
Through Megadrop, the Water Margin TVL Event and BounceClub Testnet, more than 250 million $BB tokens were distributed to over 2,8 million unique addresses, rewarding the early support of the protocol.
CeDeFi Framework
On Mainnet launch, the concept of Liquid Custody was introduced, allowing custody assets to stay liquid & available to yield-generating opportunities. Currently, $350.94M are locked in Liquid Custody, made up of 5,375 $BBTC and 24 million $BBUSD.
In Q2 & Q3 a suite of products essential to the CeDeFi framework were launched. BounceBit Premium, Easy, Superfast and a collaboration product with @Ethena_Labs. These products generated a total profit of more than $9M USD in BTC and USDT.
BounceBit Chain
The BounceBit Chain’s unique PoS garnered a total stake of more than 4,300 BTC and 57 million $BB. Now boasting a TVL of more than $287M in Liquid Staking alone. The network is secured by a set of 25 professional node operators.
There are over 2.58 million unique accounts that racked up a total of 4.18 million transactions within three months.
Roadmap
In Q3/Q4 we will release In And Out, a CeDeFi liquidity incentive mechanism. It introduces the concept of CeDeFi Liquidity Mining (CLM). CLM enables users to mine tokens by trading on Binance. Your token-specific trading activity on Binance is rewarded based on the transaction volume created.
Our mission is to create an ecosystem that combines the reliability of centralized finance with the innovation of the decentralized economy.
CeDeFi as a service. Liquid Custody as foundation.
