BounceBit Launches Restaking Blockchain: Mainnet Goes Live on May 13
BounceBit, a groundbreaking cryptographic protocol, is gearing up to introduce restaking on Bitcoin by launching its own PoS blockchain on May 13. This development opens up new opportunities in the crypto space while bridging DeFi and CeFi platforms.
- BounceBit aims to offer yield to native BTC holders by leveraging funding rate arbitrage on crypto futures markets.
- Users can stake their BTC on BounceBit to convert it into BounceBTC tokens. These tokens are used by validators to provide services, earning token owners liquid staking derivatives and interest rate returns.
- Security and liquidity from the Bitcoin world are integrated into new protocols, offering hybrid solutions for high yields.
The Countdown to Mainnet Launch
The restaking chain of BounceBit is set to go live on May 13, marking a significant milestone for the platform’s users. Leading up to the mainnet launch:
- Staking additional resources for premium yields will be temporarily suspended until May 13.
- Node operators will be appointed and included in the initial set of BounceBit, allowing them to delegate their BBTC/BB to validators post-launch.
- Early Access users will receive LCT distribution on May 12-13 across BounceBit Chain, BNB Smart Chain, and Ethereum.
The Arrival of the BB Token on Main Exchanges
With the mainnet launch on May 13, the BB token will make its debut on major crypto exchanges, featuring a dual staking mechanism with the BTCB/BB pair. Key highlights include:
- BB token listing accompanies the mainnet launch, appearing on Tier-1 exchanges like Binance.
- Early adopters of BounceBit stand to benefit from an airdrop, receiving BB tokens based on their engagement with the protocol before the snapshot.
- Airdrop rewards will be automatically distributed on the new BounceBit blockchain without the need for claims.
Preparations for Tokenomic Impact
As the launch date nears, BounceBit users are gearing up for the impact of the BB token on the ecosystem, including:
- Reopening of premium yield generation for new stakers and withdrawal of liquid staking assets.
- Return of MUBI, AUCTION, and DAII tokens from the Water Margin event, covering gas fees for Ethereum wallets.
- BB token utilization for proof of stake consensus, covering transaction gas, supporting liquidity, and governing BounceClub applications.
Estimating Token Value
While the listing price for BB remains unknown, the token’s maximum supply is set at 2.1 billion tokens with an estimated circulating supply of 19.5% of the total. Market insights reveal:
- Each BounceBit point is currently valued at $0.0089, hinting at a potential $5 value for each BB token based on estimated market capitalization.
By
By
By
By