BounceBit Launches CeDeFi V2, Adds Support For ETH, BNB, And SOL
In Brief
BounceBit has expanded its asset offerings to include ETH, BNB, and SOL, and revised subscription and redemption rules, following the V2 migration.
Bitcoin restaking platform, BounceBit announced several updates following its migration to V2. The platform has expanded its asset offerings to include ETH, BNB, and SOL (BSC), in addition to the USDT and BTC available in V1. All these assets can now be used for both Auto and Manual staking options, and users no longer need to bridge any funds to the BounceBit Chain. However, the Fixed staking option will remain limited to USDT and BTC until enough data is gathered to support other assets. Additionally, USDT deposits will now be weighted at 2X.
The platform has also revised its subscription and redemption rules. These changes include a lower minimum deposit requirement, faster withdrawals, daily rebase, and daily profit updates, improving overall user experience. In further development, BB rewards are now distributed in stBB tokens, which automatically generate an estimated yield of ~16% APY.
In order to celebrate the V2 launch, BounceBit is also hosting a “BB Festival” with special rewards and boosted yields. This event offers an increased APY on CeDeFi V2 positions, and USDT deposits will continue to be weighted at 2X during the promotion.
As part of the event, over 1 million BB tokens will be distributed to the first 2,000 users who subscribe to CeDeFi with more than $10,000. Additionally, every 200 users within the 1st to 10th tiers will receive a bonus reward of 1,000 BB or 100 bonus tokens, depending on their tier. Furthermore, all new subscribers in the first month of V2 will be eligible for a lucky draw on December 24th, where prizes ranging from 100 to 10,000 BB will be randomly awarded.
What Is BounceBit V2?
BounceBit is a growing blockchain platform that operates as a Layer 1 network, with several features designed to bridge the gap between decentralized finance (DeFi) and centralized finance (CeFi).
The launch of BounceBit V2 represents a notable upgrade for both its CeDeFi platform and BounceClub, aimed at improving the overall user experience within the BounceBit ecosystem. This update reorganizes the existing framework, introducing new tools and capabilities that simplify financial processes for both individual users and institutions. The main focus of V2 is to enhance usability, improve operational efficiency, and integrate CeFi with DeFi elements, providing a smooth, intuitive experience for all users.
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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.
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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.
