BounceBit Unveils Ambitious 2024 Roadmap: Merging CeFi and DeFi
One week after its mainnet launch, BounceBit, a Bitcoin restaking protocol, revealed its detailed roadmap for 2024. The roadmap aims to bridge centralized finance (CeFi) with decentralized finance (DeFi) to form a hybrid model known as CeDeFi.
BounceBit Aims to Merge the Best of CeFi and DeFi
- BounceBit’s 2024 roadmap comprises upgrades and new products to strengthen its ecosystem and enhance user experience.
- The roadmap focuses on optimizing blockchain infrastructure, enhancing liquidity, and providing diverse yield-generating options for investors.
The project identifies key challenges in both CeFi and DeFi sectors. While centralized platforms offer structure and accessibility, they may clash with the transparency and decentralization core values of crypto. On the other hand, DeFi allows direct market participation but faces security and scalability issues.
Explore more: CeFi vs. DeFi: Everything You Need To Know
- BounceBit seeks to democratize access to high-yield opportunities by amalgamating CeFi and DeFi’s best attributes.
- The BounceBit Chain ensures secure and efficient settlement and record-keeping while enabling users to earn staking rewards through a proof-of-stake system.
Liquid Custody Tokens (LCT) act as a bridge between CeFi and DeFi in BounceBit’s ecosystem. These tokens allow users to earn interest from CeFi while participating in Bitcoin staking and on-chain farming.
“All LCTs are backed 1:1 by equivalent assets in custody, and they stay there until the LCT is redeemed. Custody is effectively an aggregated pool of assets, in a passive state, until they are not,” the BounceBit team noted in its roadmap.
- The integrated ecosystem offers CeFi yield, staking rewards, and opportunity yield from engaging in the BounceBit chain ecosystem.
- BounceBit Chain will undergo significant upgrades to enhance performance and usability, including EVM optimization and improved transaction throughput.
Introducing BounceClub
BounceBit introduces BounceClub, a service focusing on providing CeDeFi to users to launch their products using BounceBit’s infrastructure.
Find out more: Which Are the Best Altcoins To Invest in May 2024?
According to reports, BounceBit launched its mainnet on May 13, followed by an airdrop of its native token, BB, which received listings on various crypto exchanges. Despite its $130.4 million market cap, BB’s price experienced a 6.77% drop from $0.46 at launch to $0.31 in the last 24 hours.
Hot Take: Embracing the Future of Finance with BounceBit
In a move to merge CeFi and DeFi, BounceBit sets out an ambitious roadmap for 2024, aiming to offer users a seamless experience while accessing high-yield opportunities. Through innovative solutions and a hybrid approach, BounceBit stands at the forefront of shaping the future of finance for crypto enthusiasts and investors alike.
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