BounceBit (BB) combines centralized and decentralized finance to create lucrative opportunities for Bitcoin investments. Through innovative strategies like Bitcoin restaking, a dual-token Proof of Stake system, and Liquid Custody, BounceBit ensures both security and efficiency. With tools such as BounceClub, users can effortlessly engage in DeFi and make high-yield Bitcoin investments more accessible. BounceBit aims to democratize these opportunities, revolutionizing how Bitcoin can be utilized for maximum returns.

What is BounceBit?

BounceBit is a protocol that leverages CeDeFi (Centralized-Decentralized Finance) to transform Bitcoin from a passive asset into an active one. It aims to enhance Bitcoin’s utility and yield potential by enabling active participation in network validation and yield-generating activities across CeFi, DeFi, and restaking. BounceBit’s mission is to democratize access to high-yield Bitcoin opportunities, traditionally available only to quantitative funds and elite asset management firms. By combining the transparent and efficient features of both CeFi and DeFi, BounceBit aims to broaden these benefits to a wider audience, thus changing how Bitcoin is used and invested.

How BounceBit Works

The core concept of BounceBit is to increase Bitcoin’s utility without changing the underlying Blockchain. This is achieved by providing access to arbitrage funding rates and creating on-chain certificates for redemption and mining. By merging CeFi and DeFi strengths, BounceBit opens up new avenues for Bitcoin, offering better yields and wider applications. This system allows Bitcoin holders to maximize returns while maintaining the Bitcoin Blockchain's integrity.

BounceBit's Infrastructure

BounceBit is building a Bitcoin restaking infrastructure where funds are secured through regulated custody services from providers like Ceffu, Mainnet Digital, and Fireblocks. These assets earn interest through arbitrage strategies managed by professional asset managers. Users receive a pegged version of Bitcoin called bounceBTC (BBTC), which can be delegated to node operators and turned into a coupon known as stBTC. This liquid staking derivative can then be restaked to other shared security clients (SSCs) such as sidechains, bridges, and oracles.

BounceBit employs a Dual-Token Proof-of-Stake (PoS) system where validators can accept both BBTC and BB coins. This hybrid consensus mechanism expands the stakeholder base and enhances the network’s resilience and security. By allowing validators to accept multiple coins, BounceBit fosters a more inclusive and robust consensus model.

BounceClub and Liquid Custody

BounceClub is an on-chain platform where users can create DeFi experiences without coding. Users can integrate and customize DeFi applications using pre-built widgets from the App Store. This feature lowers the entry barrier for creating DeFi solutions, making it accessible to users of all technical backgrounds.

BounceBit introduces Liquid Custody to ensure that deposited assets remain liquid. When users deposit their assets, they receive a Liquid Custody Token (LCT) that represents their assets at a 1:1 ratio under regulated custody. These tokens can be bridged to BounceBit and used in various yield-generating activities, providing users with more accessible opportunities to earn yields while maintaining liquidity.

BB Coin Overview

BB coin is the primary asset of the BounceBit mainnet. It serves various functions, including staking, protocol incentives, gas fees, and governance participation. Users can stake BB coin to engage in the PoS dual-token staking mechanism, boost network security, and earn rewards.

BB coin is distributed as staking rewards to validators who secure the network, promoting participation and ensuring network security. Additionally, BB coin is used to pay gas fees for transactions and smart contract executions on the BounceBit platform, facilitating smooth and efficient operations.

BB coin holders can take part in on-chain governance, including voting on protocol updates and critical decisions, ensuring the platform evolves according to the community’s needs. Furthermore, BB coin functions as a currency on the BounceBit platform, used as a medium of exchange or a store of value in various applications and infrastructures, enhancing its utility and versatility.

How to Buy BB Coin

BB coin can be purchased and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. BB coin was listed on Binance on May 13, 2024, and is available for trading in pairs such as BB/BTC, BB/USDT, BB/BNB, BB/FDUSD, and BB/TRY.

To buy BB coin, users need to register on the Binance exchange if they haven’t already. After completing the registration, users should transfer cryptocurrency or fiat currency, like the Turkish lira, to their Binance account. Once the transfer is complete, BB coin can be bought from any of the available trading pairs. For instance, to buy from the BB/USDT pair, navigate to this trading pair’s interface, enter the desired amount under the limit tab, and place a Buy BB order.

Conclusion

BounceBit aims to revolutionize Bitcoin investment by merging the best of CeFi and DeFi, making high-yield opportunities accessible to a broader audience. With tools like BounceClub and innovations like Liquid Custody, BounceBit ensures both security and efficiency while enabling users to maximize returns on their Bitcoin investments. BB coin plays a crucial role in this ecosystem, offering multiple utilities and fostering a vibrant, inclusive community.