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May 13, 2024

Bitcoin Restaking Platform BounceBit Launches Mainnet, and Announces BB Token Allocation

In Brief

BounceBit launched its mainnet, providing users with the opportunity to engage in BTC restaking through its CeDeFi infrastructure.

Bitcoin Restaking Platform BounceBit Launches Mainnet, and Announces BB Token Allocation

Bitcoin restaking platform BounceBit announced the launch of its mainnet, providing users with the opportunity to engage in BTC restaking through its CeDeFi infrastructure while participating in the BounceClub ecosystem.

The BounceBit mainnet has introduced a variety of new features that are accessible through its updated portal. Users can now delegate their BB and BBTC tokens to node operators and stake them to earn rewards. Additionally, users have the option to subscribe to premium yield or claim profits from it in BTCB, FDUSD, WBTC, or USDT through liquid custody. Furthermore, users can participate in cross-chain bridging to BounceBit and BounceClub. Now, BounceClub owners have the ability to personalize their clubs to enhance project visibility and community engagement, among other benefits.

The BB token has been airdropped to eligible wallets on the BounceBit Chain, enabling users to verify their airdrop allocation in wallets without needing to claim it.

Keep track of cryptocurrency distributions in our Airdrops Calendar.

BounceBit’s BB Token Surges Over 70% Following Launch

BounceBit operates as a Layer 1 network, utilizing a dual-token system. This approach combines the security features of Bitcoin with full compatibility with the Ethereum Virtual Machine (EVM), enabling validators to stake both BTC and BB tokens. Through the restaking of Bitcoin facilitated by bridges and oracles, BounceBit aims to enhance its operational efficiency and reinforce its security measures.

The BB token serves as a utility token to cover gas fees. To execute transactions on the BounceBit blockchain, users are advised to possess BB tokens. Users have the option to verify their eligibility for the BB token airdrop or acquire BB tokens through the cryptocurrency exchange Binance.

Recently, BounceBit participated as the first project in the Binance token issuance platform, Megadrop, allowing users to subscribe to BNB-locked products or engage in tasks to gain early access to its airdrop rewards. The project has attracted over 682,000 participants, with 48% of the total participants engaging in completing tasks in the Binance Web3 Wallet.

At the time of this writing, the price of the BB token is recorded at $0.4, marking a surge of over 70% in the past 24-hour period, as per CoinMarketCap data. The BB token is scheduled to be listed on cryptocurrency exchanges such as Bitget and HTX starting today.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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