BounceBit is pioneering a new approach to liquid restaking, focusing on Bitcoin (BTC) instead of Ethereum (ETH). By building a BTC restaking infrastructure, BounceBit aims to provide a foundational layer for various restaking products, increasing the economic security of external systems.

Understanding Liquid Restaking

Liquid restaking is a process that enhances the economic security of external systems. Users can stake their ETH into protocols like Lido and receive a synthetic representation, which can be restaked to receive a liquid restaking token. BounceBit, however, is building a BTC restaking infrastructure that provides a layer for restaking products on the Bitcoin network.

BounceBit's Unique Approach

BounceBit differentiates itself as a Proof of Stake layer one ecosystem where validators must stake BTC and the native BounceBit token (BB). This dual-token security system strengthens the network and improves the intrinsic value of Bitcoin by giving holders an active role in validating the BounceBit network.

Solving Problems in Crypto

BounceBit tackles issues like lack of transparency, underutilized BTC assets, and the absence of a smart contract platform within Bitcoin's ecosystem. It also improves Bitcoin's utility by enabling additional use cases and unifying BTC across chains.

Exploring BounceBit's Infrastructure

BounceBit's network leverages the Proof-of-Stake (PoS) consensus algorithm, rethinking conventional staking models. The protocol's architecture incorporates node operators who can be selected as validators, staking BB and/or BBTC (staked BTC on the BounceBit chain). Users receive liquid staking tokens (LST) by staking BB or BTC.

BounceBit Economy and BB Tokenomics

BB is the native token powering the BounceBit platform, with a capped total supply of 2.1 billion. BB tokens enable on-chain governance, participate in the PoS Dual-token mechanism, and reward validators who secure the network.

Conclusion

BounceBit offers a unique approach to liquid restaking, focusing on BTC and providing a dual-token security system. By tackling common issues in the crypto space, BounceBit aims to provide additional value to users and strengthen the overall crypto ecosystem.