BounceBit has announced its official mainnet launch. Since its Water Margin TVL Event released in late January 2024, BounceBit has amassed approximately $1 billion in Total Value Locked (TVL) and nearly 400,000 early contributors.
The BounceBit Mainnet launch introduces a host of new functionalities accessible via their updated portal. Here’s a highlight of what you can expect on BounceBit mainnet:
1. Node staking and delegation
BounceBit introduces a dual-token PoS mechanism where validators stake both BBTC and BB to enhance network security and robustness. Participants can delegate their assets to node operators through BounceBit’s native Liquid Staking module on portal.bouncebit.io, which issues a voucher token upon delegation. If one delegates BB, they will receive stBB; If they delegate BBTC, they will receive stBBTC.
2. Premium yield generation
Premium Yield Generation is a feature on BounceBit that generates yield on BTC and USD stablecoins through Funding Rate Arbitrage strategies. The minimum investment amount is 1000 USD, or 0.1 BTC. To subscribe, one must lock BBTC and BBUSD on the BounceBit Chain, Ethereum, or BNB Smart Chain.
Additionally, one can boost their earnings by subscribing to Premium Yield Generation through locking their stBBTC on the BounceBit Chain. This approach allows them to generate yield from both node staking and Premium Yield Generation simultaneously, offering the highest yield play and earning them BTC and BB in rewards.
3. Liquid custody
BounceBit introduces Liquid Custody, enabling users’ assets to stay liquid while being secured in centralized regulated custody. Participants can engage in Liquid Custody on bouncebit.io by depositing BTCB & FDUSD on BNB Smart Chain and WBTC & USDT on Ethereum Network. Liquid Custody Tokens (LCTs) will be issued to participants on the corresponding chain. BTCB and WBTC deposits will receive BBTC as LCT, while FDUSD and USDT deposits will receive BBUSD as LCT.
4. Bridging onto BounceBit
LCTs can be bridged to BounceBit via MultiBit Bridge or Polyhedra’s zkBridge. Additionally, MultiBit will support the bridging of native Bitcoin onto BounceBit. Gas fees are denominated in the coin of the origin chain, e.g., if one bridges from BNB Smart Chain to BounceBit, they have to pay the gas fee in BNB.
5. BounceClub
BounceClub is a vital part of the BounceBit ecosystem, offering an on-chain Web3 universe designed for everyone to create and engage. BounceClub owners can customize their Clubs to enhance project visibility and community engagement. Club members can enjoy a variety of Web3 activities within these Clubs.
The BounceBit App Store within the BounceClub ecosystem features an extensive selection of Web3 apps, from DeFi and Gaming to SocialFi and AI. Club owners can conveniently choose and integrate these apps into their Clubs, providing functionalities and DeFi yield opportunities for Club members.
To get started, visit app.bouncebit.io and start to explore.
Outlook
Going forward, BounceBit will be focusing on growing the ecosystem with BounceClub and catalyzing the development of additional SSCs to build a resilient restaking infrastructure.
About BounceBit
BounceBit is building a BTC restaking infrastructure that provides a foundational layer for different restaking products, secured by the regulated custody of Mainnet Digital and Ceffu. The BounceBit chain, designed as a showcase of a restaking product within the BounceBit ecosystem, is a PoS Layer 1 secured by validators staking both BTC and BounceBit’s native token — A dual-token system leveraging native Bitcoin’s security with full EVM compatibility. Critical ecosystem infrastructure like bridges and oracles are secured by restaked BTC. Through an innovative CeFi + DeFi framework, BounceBit empowers BTC holders to earn yield across multiple networks.
