BounceBit is excited to announce the official launch of BounceBit Mainnet. It is one of the latest developments in the company’s history since its founding in late January 2024. With the successful completion of the Water Margin TVL Event, BounceBit has made tremendous strides as BounceBit accumulated just under $1 billion in Total Value Locked and nearly 400,000 early contributors to the platform.
⚫️⚪️BounceBit Mainnet is LIVE! pic.twitter.com/D57SNjbAwZ
— BounceBit (@bounce_bit) May 13, 2024
BounceBit Chain Introduces Dual-Token PoS Mechanism for Security
Since the implementation of BounceBit’s Premium Yield Generation feature, thousands of staked $BTC have been engaged in Funding Rate Arbitrage to produce a stable returned yield. The Testnet phase also revealed the stability and resilience of the complete BounceBit Network, which enabled the fully functional Mainnet launch.
The portal comprises a set of new functionalities launched besides the Mainnet. BounceBit chain is a Layer 1 network that functions as a standalone network, probing BB as its gas fee token. It is compulsory for users to have enough BB tokens to transact in the BounceBit chain. The May 31st D-day announcement also reminded users to check their eligibility to win free BB airdrops or buy BB from Binance.
BounceBit applies a dual-token PoS mechanism. It allows validators to stake both BBTC and BB for multifunctional network to strengthen security. Users and speculators can also delegate their assets to node operators or Staking pools using the Liquid Staking Derivative module.
BounceBit App Store Offers Web3 Apps for DeFi Yield Opportunities
The Funding Rate Arbitrage on Binance with generating yield on and USD stablecoins through this feature is reopening. Users can lock the BBTC and BBUSD in different chains to participate. The Liquid Custody is launched with the vision to keep the assets liquid and securitize them in regulated custody through Liquid Custody Tokens. The assets like BTCB & FDUSD BTC Smart Chain LCTs and WBTC & USDT for Ethereum Network are deposit LCTs obtained for BNB Smart Chain and Ethereum Network.
BounceClub is an essential part of the ecosystem, a Web3 on-chain universe where users can create and engage. Club members can access the BounceBit App Store inside BounceClub with a massive number of Web3 apps. These apps bring functional and DeFi yield opportunities for members.
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