Bounce Brand announced on the support.

What is BounceBit

BounceBit is a Bitcoin pledge chain based on the PoS mechanism. Its goal is to create a powerful smart contract execution environment for Bitcoin. BounceBit emphasizes that it is not a Layer 2 built on the Bitcoin blockchain, but a Layer 1 ecosystem using the PoS mechanism.

BounceBit has EVM compatibility and native BTC security and compatibility, and recognizes and incorporates assets such as BTCB on the BNB chain and WBTC on Ethereum, diversifying BTC's use cases and expanding ecological participation, thus enriching the entire BTC asset class.

BounceBit has introduced a dual-token pledge system. Verifiers need to hold both BounceBit's native token (yet to be named) and BTC. Benefits to BounceBit holders include income distribution and governance rights.

BounceBit’s security is provided by the native BTC network and the CeFi Foundation, which is implemented through regulated custody by Mainnet Digital and Binance’s institutional custodian Ceffu. Its operation process is as follows:

(Odaily Planet Daily Note: Ceffu states on its website that it is the “only institutional custody partner of Binance Exchange.” Last year, U.S. regulators described Ceffu as a “mysterious entity related to Binance.”)

Users deposit BTC to Binance and then withdraw to BNB Chain, the tokens will be automatically converted to BTCB

Deposit BTCB via BounceBit official link

BTCB will be transferred to the regulated entity Mainnet Digital for safekeeping, and users will receive BTCB and LSD token incentives

Users can use LSD tokens to participate in a range of asset management services

Users can choose to cross-chain LSD tokens to the BounceBit chain to participate in ecological activities

Users can also pledge LSD tokens to verification nodes

Bitcoin interest earning mechanism

In the Bitcoin ecosystem, asset interest generation is a unique challenge, which is significantly different from chains such as Ethereum. When BTC is restricted to multi-signature wallets, the current mainstream Bitcoin protocol cannot make it generate returns.BounceBit aims to build a decentralized validator network through the PoS mechanism and transform BTC from a passive asset to an active interest-earning asset. BounceBit introduces three types of benefits to users:

CeFi: Earn rewards for regulated custody and various asset management services via Mainnet Digital and Binance Mirror;

Node operation rewards for staking and PoS mining;

DeFi yield derived from BounceBit ecosystem applications.

BounceBox

In addition to the interest-generating mechanism, BounceBox is another key element of BounceBit. BounceBox is an application construction and distribution platform that enables users to quickly design, launch and monitor DApps. Through intuitive design and rich component supply, BounceBox provides components including decentralized exchanges (DEX), IDO products and trading markets, simplifying the DApp development process, aiming to enable users with minimal technical knowledge to easily build DApps.

"Water Margin" TVL event

Currently, BounceBit has launched a TVL activity called "THE WATER MARGIN", through which users can receive BounceBit point rewards. Users can stake BTCB on BNB Chain and WBTC, AUCTION, MUBI and DAII on Ethereum. All deposited funds will be available for withdrawal when the BounceBit mainnet launches in May 2024.

This activity is similar to Blast, and its points acquisition rules are as follows:

Earn points based on the dollar amount deposited;

Earn points based on invitations and the dollar amount deposited by the invitee;

For directly invited teams, each accumulated 0.1 BTC deposit will win a Boost lottery opportunity for each recommending party. You may get a Swift card or a Boost card that accelerates hourglass time. The Boost card is divided into multiple levels: R, SR, and SSR, and you can get extra points as rewards.

route map

BounceBit will be launched on the test network in March, on the main network on April 23, and will be airdropped in May. BounceBit points redemption and asset withdrawal will be open at the same time. #BTC #JUP #AUCTION #ZETA

It is recommended to pledge BTCB on the BNB Chain network. The handling fee is relatively low, and it is stable and measured in US dollars. The minimum pledge starts with 100USD. Here is my invitation code https://bouncebit.io?code=4TDNG

https://bouncebit.io?code=GVXG2

https://bouncebit.io?code=88JRC

https://bouncebit.io?code=CNXO5

https://bouncebit.io?code=H68G8

https://bouncebit.io?code=M8VVJ