- 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.
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
Enhanced features and accessibility
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.
Also read: Philippine SEC wants Binance out of app stores
BounceBit ecosystem and future developments
BounceClub plays a vital role in the BounceBit ecosystem, offering an on-chain Web3 universe designed for enhanced project visibility and community engagement. Club owners can customize their Clubs to engage members in various Web3 activities.
The BounceBit App Store within the BounceClub ecosystem features a broad selection of Web3 apps, from DeFi (decentralised finance) and Gaming to SocialFi and AI, allowing club owners to integrate these apps into their clubs for added functionalities and yield opportunities.
Moving forward, BounceBit will focus on expanding its ecosystem through BounceClub. Efforts will be made to catalyse the development of additional SSCs to build a robust repledging infrastructure.
