Binance Labs, the venture capital arm and incubator of Binance, has invested in BounceBit, a Bitcoin restoring and CeDeFi protocol to expand Bitcoin's capabilities beyond the traditional store of value. BounceBit transforms BTC from a passive asset into a dynamic force within the ecosystem through active participation in network validation and a variety of yield-generating activities.
At the core of BounceBit's innovative framework is the conviction that Bitcoin empowerment must be predominantly asset-driven, without altering the Bitcoin blockchain. Through strategies such as funding rate arbitrage and issuing on-chain certificates for re-staking and mining, BounceBit seamlessly combines the best features of centralized finance (CeFi) and decentralized finance (DeFi) to unlock new possibilities for Bitcoin, facilitating income generation and improved applications.
Yi He, co-founder of Binance and leader of Binance Labs, said: "BounceBit opens new avenues for utilizing Bitcoin with the fusion of CeFi and DeFi. At Binance Labs, we are always looking for innovators to shape the industry, and we look forward to seeing their growth as they achieve their mission of empowering Bitcoin through secure and transparent CeDeFi solutions.â
BounceBit is led by a team with experience in decentralized finance, traditional finance and layer-1 blockchain technology. BounceBit prioritizes security and transparency using regulated custody and Multi-Party Computation (MPC). Combined with Ceffu's Off-Broker Settlement (OES) and Mirror X solutions to minimize counterparty risks, BounceBit is committed to creating a secure environment for engaging Bitcoin in yield-generating activities.
One of BounceBit's innovations is its unique layer-1 Proof of Stake (PoS) ecosystem. This ecosystem encourages validators to stake BounceBit and BTC tokens, creating a dual-token system that not only aims to strengthen network security but also amplifies the value and utility of BTC by directly involving it in network operations. By restoring Bitcoin in various systems, such as oracles and bridges, BounceBit aims to reinforce the security and operational efficiency of the network.
âIt is our mission to build a restocking infrastructure to drive Bitcoin usage and we want to do this in a secure and transparent way. Our focus on CeDeFi and developing a robust restocking ecosystem is just the beginning. We are grateful to have Binance Labs supporting us in this effortâ, comments Jack Lu, founder and CEO of BounceBit.
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About BounceBit
BounceBit is building a BTC restoking infrastructure that provides a foundational layer for different restoking products, secured by regulated custody from Mainnet Digital and Ceffu. The BounceBit blockchain, designed as a showcase for a restocking product within the BounceBit ecosystem, is a layer-1 PoS secured by validators staking the native BounceBit token and BTCâââa dual-token system that leverages the native security of Bitcoin with full EVM compatibility. The ecosystem's critical infrastructure, such as bridges and oracles, is protected by BTC in restocking. Through an innovative CeFi + DeFi framework, BounceBit empowers BTC holders to earn yield across multiple networks. For more information, follow BounceBit on X.
About Binance Labs
As the venture capital arm and accelerator of Binance, Binance Labs is now worth over $10 billion. Its portfolio covers 250 projects from more than 25 countries on six continents and has an investment return rate of more than 14 times. Fifty of the Binance Labs portfolio companies are projects that have gone through our incubation programs. For more information, follow Binance Labs on X.
Risk Warning: The information provided in this article is for informational purposes only and does not constitute investment advice, endorsement, analysis or recommendations with respect to any financial instruments, investments or issuers. This article may contain forward-looking statements that are, by their nature, subject to risks and uncertainties. Investing in cryptocurrency and DeFi projects involves substantial risks, including the risk of total loss. This article does not take into account the investment objectives, financial situation or specific needs of any particular person and each individual is urged to consult their legal and financial advisors before making any investment decision.
