Trends
BounceBit Mainnet officially launches: Opening a new chapter
BounceBit announces the official launch of its Mainnet, marking a significant milestone since its initial rollout in late January 2024. With the successful Water Margin TVL Event, BounceBit has locked in approximately $1 billion in Total Value Locked (TVL) and attracted nearly 400,000 early contribu…
Headline
BounceBit announces the official launch of its Mainnet, marking a significant milestone since its initial rollout in late January 2024. With the successful Water Margin TVL Event, BounceBit has locked in approximately $1 billion in Total Value Locked (TVL) and attracted nearly…
Context
BounceBit announces the official launch of its Mainnet, marking a significant milestone since its initial rollout in late January 2024. With the successful Water Margin TVL Event, BounceBit has locked in approximately $1 billion in Total Value Locked (TVL) and attracted nearly 400,000 early contributors. Also read: Is Binance safe for storing cryptocurrency? An analysis
Evidence
Pending intelligence enrichment.
Analysis
BounceBit has reopened its premium yield generation feature, allowing users to claim all profits accumulated before May 13 at portal.bouncebit.io. This feature enables yield generation on BTC (bitcoin) and USD stablecoins through Funding Rate Arbitrage on Binance, with a minimum investment of 1000 USD or 0.1 bitcoin. To participate, users must lock BBTC (bitcoin on Bouncebit) and BBUSD (stablecoins on BounceBit) on the BounceBit Chain, ethereum, or BNB Smart Chain . BounceBit introduces liquid custody, which keeps users’ assets liquid while secured in centralized, regulated custody. Participants can deposit BTCB (bitcoin BEP2 price chart) & FDUSD (first digital USD) on the BNB Smart Chain and WBTC (wrapped bitcoin) & USDT on the ethereum network. Liquid custody tokens (LCTs) are issued following these deposits on the corresponding chain, with BTCB and WBTC deposits receiving BBTC as LCT, and FDUSD and USDT deposits receiving BBUSD as LCT.
Key Points
- The launch of BounceBit Mainnet introduces numerous new functionalities, accessible through its portal at portal.bouncebit.io, with freshly updated documentation available at docs.bouncebit.io.
- Transactions on the BounceBit chain require BB tokens as the gas fee, available for purchase on Binance or check eligibility for a BB airdrop.
- BounceBit introduces a dual-token PoS mechanism to enhance network security and robustness, with liquid staking services now available on portal.bouncebit.io.
Actions
Pending intelligence enrichment.
