Token BB price doubled in 3 days! Bitcoin re-pledge protocol BounceBit participates in interactive teaching

$BB, the native token of the Bitcoin re-pledge project BounceBit, soared 41% from the 25th, and continued to rise for two consecutive days, hitting a record of $0.7868 yesterday (27th) At the high point, the price doubled in 3 days.

It is currently trading at US$0.6838, with a market value exceeding US$280 million, and Mcap/FDV exceeding 19%.

What is BounceBit?

The Bitcoin re-pledge project BounceBit is committed to building income infrastructure for Bitcoin, providing institutional-level income products, re-pledge application scenarios, and CeDeFi services, so that Bitcoin holders can make profits .

The implementation of CeDeFi services is specifically:

• CeFi: Liquid custody tokens (LCTs) designed through the protocol, with regulated custody service providers For example, Mainnet Digital has cooperated with Ceffu, allowing users to earn actual benefits such as tariff arbitrage and fixed income from CeFi.

• DeFi: Users can reuse LCTs on the BounceBit chain to perform DeFi operations such as pledge, re-pledge, and lending. Interestingly, the protocol launched Bounce Club, allowing users to choose built DeFi products from the BounceBit App Store to create their own personal DeFi space.

BounceBit chain is a Layer1 network that adopts a dual-currency PoS consensus mechanism. It is jointly maintained by $BBTC and BounceBit’s native token $BB. It combines the security of Bitcoin and is fully compatible with EVM (Gas Pay in $BB).

Note: $BBTC is the Liquidity Custody Token (LCT) of BTC on the BounceBit chain

BounceBit CeDeFi Infrastructure

Project Background

BounceBit was created by Bounce Finance, which previously launched auction services. It subsequently launched the Bitcoin ecological IDO platform Bounce Auction. The native token of the platform is $Auction, which has also experienced good growth this year.

After completing $6 million in financing in February, BounceBit received investment from Binance in April and was the first project to be listed on the Binance Megadrop platform.

How to participate in the ecology

Having said this, I believe everyone knows that BounceBit is mainly composed of three major elements, including the BounceBit chain as the settlement and execution layer, the DeFi product club Bounce Club, and the pledge With re-pledge services, these services can be carried out through the BounceBit Portal website. The interactive methods are introduced below:

On the deposit page, BounceBit supports the deposit of BTCB on the BNB chain and USDT on Ethereum. After depositing, USDT will Exchange it into its LCT form – $BBUSD; BTC is exchanged for $BBTC. This page also supports redemption, with an interval of 1 day, so remember to claim again.

On the pledge page, $BBTC can be pledged into stBBTC and enjoy 5% APR. But this only supports $BBTC on the BounceBit chain. If it is deposited from the above public chain, you need to bridge $BBTC to the BounceBit chain on the bridge page. You need to pay about 12U of Gas for the just operation.

In addition, $BB can be pledged into stBB (its liquid pledge token LSD form) and enjoy 22% APR. The interval between unstaking is 1 day, and you need to make a claim again.

On the Premium Yield Generation page, you can choose a strategy before staking. The minimum threshold is 0.1$BBTC or 1000$BBUSD, which is not suitable for small investors. In addition to its own chain, it also supports BNB and Ethereum. In addition, stBBTC can also participate in the site activities.

The interval between unstaking is 7 days, and you have to go to Claim again. Officials said the site’s activities can be tracked on DefiLlama and have now exceeded $140 million.

Recently, BounceBit has partnered with the synthetic USD protocol Ethena, which will allow $BBUSD holders to enjoy sUSDe’s current up to 35.9% APY by staking, as well as earn 5xsats. Details will be further revealed this week. Whether it will accelerate the expansion of USDe is worthy of attention. Its current market value is nearly 2.8 billion US dollars.

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