The BounceBit project is a brokerage protocol built on the Bitcoin asset class, and works to massively promote network expansion through a cryptoeconomic effort known as restacking. BounceBit is building the bridge between centralized finance (CeFi) and decentralized finance (DeFi).
What is BounceBit?
BounceBit is a revolutionary project that aims to bridge the gap between the worlds of centralized finance (CeFi) and decentralized finance (DeFi) by providing innovative Bitcoin reconnection infrastructure.
BounceBit's innovation idea is mainly based on the mechanism of re-mortgaging Bitcoin. This new concept serves as a key enabler for the project, where BounceBit will build an end-to-end infrastructure and explore Restake use cases for different types of Bitcoin. This infrastructure includes a variety of elements such as subchains, oracles, bridges, virtual machines, data provisioning layers, and more, with the goal of enhancing security and trust across all participating elements.
The foundation of BTC Restake is supported by regulated custodial funds, where multiple types of Bitcoin can be deposited across different networks, including native Bitcoin, BTCB on BNBChain, and WBTC custodial by CeFi, which is backed by Mainnet Digital and Ceffu. Ceffu's Mirror Idle BTC earns a return by reviewing the delta-neutral funding rate, and then this collected BTC can be mobilized as a wrapped version of BTC to the corresponding shared security clients, for example, the BounceBit chain.
How BounceBit (BB) works
BounceBit (BB) is the first native Bitcoin blockchain. It introduces a new approach to storage through a two-code system. This innovative platform enhances the security of Bitcoin along with full compatibility with the Ethereum Virtual Machine (EVM) to provide a convenient and secure experience for users.
Double mortgage mechanism
BounceBit offers a unique token redemption mechanism, combining Bitcoin storage with BounceBit (BB) tokens, enhancing security, providing a diverse stakeholder base, and enhancing ecosystem resilience.
Consensus proof of interest
BounceBit adopts a Proof of Stake (PoS) mechanism, known as Dual-Token PoS, where validators stake BB and/or BBTC tokens to record and verify transactions, creating perpetual staking and strengthening the network.
Transparent financial services
BounceBit works to rebuild trust and provide a secure platform for earning returns on dormant Bitcoin, by implementing proof of chain for backup and transparent activities.
Increase Bitcoin utility
BounceBit seeks to enhance liquidity and expand the utility of BTC in a transparent and efficient environment, by enabling BTC holders to participate in the DeFi and CeFi markets, and providing an ecosystem that meets the needs of retail and institutional investors.
Features of smart contract
BounceBit fully integrates with the Ethereum Virtual Machine (EVM) and the Solidity language, allowing developers to build advanced dApps and enhance the application versatility and benefits of Bitcoin.
Standardization across multiple chains
BounceBit is developing a unified platform to integrate different forms of wrapped BTC across multiple blockchain networks, enhancing the efficiency and liquidity of BTC assets across multiple blockchains.
BounceBit (BB) Megadrop
Binance announces the first project on Binance Megadrop, BounceBit (BB), a BTC repository chain. Users can start participating in BounceBit Megadrop from now: Binance Megadrop.
