@BounceBit
BounceBit ($BB) is a BTC restaking chain designed specifically for Bitcoin, serving as a CeDeFi infrastructure that bridges centralized and decentralized finance. The project is supported by Blockchain Capital and Breyer Capital, aiming to create a smart contract execution environment for Bitcoin, supporting an EVM-compatible PoS Layer 1 chain, utilizing a dual-token mechanism of BTC and $BB to ensure network security and liquidity.
Key innovations include the BTC restaking mechanism, allowing users to bridge BTC to the chain as BBTC, supporting staking, yield farming, and RWA (real-world asset) integration, such as tokenized money market funds from Franklin Templeton. The platform offers an App Store and BounceBox for quick DApp deployment; the Prime aggregator covers DeFi, Meme coins, and GameFi, achieving institutional-level yield democratization. The total supply is 2.1 billion $BB, paying tribute to Bitcoin's 21 million cap.
Analysis: BounceBit seizes the opportunity of the Bitcoin ecosystem's expansion, with TVL exceeding expectations. After the mainnet launches in May 2024, the price of $BB is approximately $0.20, with a market cap of $158 million and a 24h trading volume of $274 million, recently rising 32.7% over the past 7 days. Its advantages lie in BTC's secure borrowing and CeFi's transparent custody, reducing risks; however, it relies on bridging and regulation, which may face volatility and compliance challenges. The overall potential is significant, making it suitable for BTC holders to explore high-yield DeFi.
