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BounceBit integrates CeFi and DeFi to offer high-yield opportunities to BTC holders. Its innovative BTC restaking infrastructure, dual-token PoS system, and regulated custody solutions ensure both security and efficiency. BB coin plays a crucial role in staking, incentives, gas fees, governance, and as a currency, making it a versatile and fundamental component of the platform. BounceBit democratizes access to advanced financial strategies, transforming how Bitcoin is used and maximized for returns, making these opportunities accessible to a broader audience.
What is BounceBit?
BounceBit is a BTC restaking network that combines the strengths of centralized finance (CeFi) and decentralized finance (DeFi) through an innovative CeDeFi framework. This approach allows BTC holders to earn returns from multiple sources, enhancing the utility and profitability of their Bitcoin assets. BounceBit’s core mission is to transform Bitcoin from a passive asset into an active participant within the financial ecosystem. By leveraging both CeFi and DeFi, BounceBit aims to democratize access to high-yield opportunities traditionally reserved for institutional investors, making advanced financial strategies accessible to a broader range of BTC holders and maximizing their returns.
BounceBit enhances Bitcoin’s utility without altering its core Blockchain. The platform integrates the advantages of CeFi and DeFi by providing access to funding rate arbitrage and creating on-chain certificates for restaking and mining. This approach allows Bitcoin holders to maximize their returns while maintaining the security and integrity of the Bitcoin Blockchain.
BounceBit’s BTC restaking infrastructure allows users to stake their Bitcoin and earn returns through regulated custody services provided by Ceffu, Mainnet Digital, and Fireblocks. By participating in arbitrage strategies managed by experienced asset managers, users can earn interest on their assets. After staking, users receive bounceBTC (BBTC), a pegged version of BTC that can be delegated to node operators. In return, users receive stBTC, a liquid staking derivative that can be restaked to other shared security clients (SSCs) like sidechains, bridges, and oracles.
BounceBit employs a dual-token PoS system where validators can accept both BBTC and BB coins. This hybrid consensus mechanism broadens the stakeholder base and enhances the network’s resilience and security. By allowing validators to accept multiple tokens, BounceBit provides a more inclusive and robust consensus mechanism model.
BB coins can be staked to actively participate in the dual-token PoS staking mechanism. This helps secure the network and allows participants to earn rewards. BB coins are used to pay staking rewards to validators, incentivize participation, and maintain robust network security.
BB coins facilitate seamless and efficient transactions on the BounceBit platform by paying for gas fees required to execute transactions and smart contracts. BB coin holders can participate in on-chain governance, voting on protocol updates and other critical decisions, ensuring the platform evolves according to the community’s needs.
BB coins can be used as a currency on the BounceBit platform. They can function as a medium of exchange or a store of value across various applications and infrastructures, enhancing their utility and versatility.
BounceBit’s native Liquid Staking Derivative (LSD) module allows token holders to delegate their BBTC or BB coins to validators and receive an LST coupon in return. Validators are selected based on voting weight, and the maximum number of validators is determined by governance, ensuring a balanced and secure staking process. BounceBit uses regulated custody solutions to securely store user funds, employing Multi-Party Computation (MPC) wallets for the highest level of security and trust for users’ assets.
The Off-Exchange Settlement (OES) system provides secure access to centralized exchange (CEX) liquidity while conducting transactions off-exchange. This enhances the platform’s overall security and efficiency by offering users the advantages of CEX liquidity without the associated risks.
Where to Buy BB Coin?
BB coin can be safely bought 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 the BB/BTC, BB/USDT, BB/BNB, BB/FDUSD, and BB/TRY pairs.
To buy BB coin, you must first become a member of the Binance exchange if you are not already. After completing the membership process, you need to transfer cryptocurrency or fiat currency such as Turkish lira to your Binance account wallet. Once the transfer is complete, you can purchase BB coin from any of the six trading pairs mentioned above.
To buy from the BB/USDT trading pair, you must first go to the interface of this trading pair. Enter the desired amount in the specified field on the limit tab of the trading pair interface. After entering the amount, complete the purchase by placing a Buy BB order.
