Apr 18th, 2024 BounceBit has built a BTC re-staking infrastructure that provides a base layer for different re-staking products. Through the CeFi + DeFi framework, BounceBit enables BTC holders to earn yield from multiple sources. BB tokens have multiple uses on the BounceBit platform: Staking: Stake BB to participate in the dual-coin staking mechanism of Bounce Bit PoS. Protocol Incentives: Tokens are paid as staking rewards to validators who ensure network security. Gas Fees: BB is used to pay for the gas fees required to conduct transactions and execute smart contracts. Governance: Use BB to participate in on-chain governance, such as voting on protocol upgrades. Currency: BB can be used as currency on the BounceBit platform. It can be used in various applications and infrastructures as a medium of exchange or a store of value. BounceBit's Layer 1 consists of the following components: Dual-Coin PoS: A hybrid consensus mechanism where each validator can accept both BBTC and/or BB tokens; Native LSD module: This module allows delegating staking to validators and receiving LST certificates in return. BounceBit's base CeFi layer consists of the following components: Compliant Custody: All user funds are stored in a secure custody solution through the MPC wallet. OTC Settlement: OES can safely tap into CEX liquidity, while trades are settled OTC. The project has raised $7.98 million from previous funding. The total supply of BB is 2,100,000,000, and the circulating supply after listing is 409,500,000 (19.50% of the total token supply).

The project's mission is to make more people accessible to high-yield opportunities in Bitcoin assets that are usually only available to quantitative and top asset management companies. BounceBit aims to bring the combined advantages of transparent CeFi and DeFi to the masses.

BTC Restaking: BounceBit builds BTC Restaking infrastructure, securing funds through regulated custody services from Ceffu, Mainnet Digital, and Fireblocks. When assets generate interest through arbitrage strategies managed by experienced asset management entities, users are rewarded with a BTC-pegged version called bounceBTC (BBTC), which can be delegated to node operators, who return the staking certificate (stBTC) to the staker. This liquid staking derivative can then be re-staking to other shared security clients (SSCs) such as sidechains, bridges, and oracles. Dual-Coin PoS: Dual-Coin PoS is a hybrid consensus mechanism where each validator can accept both BBTC and/or BB tokens. The system expands the stakeholder base and weaves an extra layer of resilience and security into the network consensus structure. BounceClub: BounceClub is available as an on-chain space where users can create DeFi experiences using pre-built applets, without code, and can be easily integrated from the App Store. Liquid Custody: BounceBit introduces the concept of "Liquid Custody" to keep collateral assets liquid and provide more opportunities to earn returns. When users deposit assets into BounceBit, they will receive a Liquid Custody Token (LCT), which represents their assets in a 1:1 ratio. These tokens can be bridged to BounceBit and used further.