BounceBit Mainnet Goes Live with Exciting New Features
Luisa Crawford May 13, 2024 18:32
The BounceBit Mainnet has officially launched, introducing a host of new functionalities to the platform.
BounceBit Mainnet Launches
We are thrilled to announce the official launch of the BounceBit Mainnet, marking a significant milestone since our initial rollout in late January 2024. Through the successful Water Margin TVL Event, BounceBit has seen tremendous growth, boasting approximately $1 billion in Total Value Locked (TVL) and nearly 400,000 early contributors.
Impressive Growth Since Initial Rollout
Since the launch of BounceBit’s Premium Yield Generation feature, thousands of staked BTC are continuously generating yield through Funding Rate Arbitrage. Our Testnet phase was also a resounding success, showcasing the BounceClub ecosystem and highlighting the robustness and stability of the BounceBit Network.
New Functionalities Introduced in BounceBit Mainnet
The BounceBit Mainnet launch introduces a host of new functionalities accessible via our portal at portal.bouncebit.io. For detailed guides and information, our documentation has been freshly updated at docs.bouncebit.io.
BB Tokens Required for Transactions
As a friendly reminder, the BounceBit chain operates as a standalone Layer 1 network where BB serves as the gas fee token. Ensure you have BB tokens for transactions on the BounceBit chain. Check if you’re eligible for BB airdrop or purchase BB on Binance.
What to Expect on BounceBit Mainnet
Now let’s guide you through what you can expect on BounceBit Mainnet.
1. Node Staking & Delegation
BounceBit introduces a dual-token PoS mechanism where validators stake both BBTC and BB to enhance network security and robustness. Participants can delegate their assets to node operators through our native LSD module, which issues a voucher upon delegation. If you delegate BB, you will receive stBB; If you delegate BBTC, you will receive stBBTC. Liquid Staking is now available on portal.bouncebit.io.
2. Premium Yield Generation
Premium Yield Generation is now reopened! All profits accumulated prior to May 13 are now claimable at portal.bouncebit.io. Premium Yield Generation is a feature that generates yield on your BTC and USD stablecoins through Funding Rate Arbitrage on Binance. The minimum investment amount is 1000 USD, or 0.1 BTC. To subscribe, you must lock BBTC and BBUSD on the BounceBit Chain, Ethereum, or BNB Smart Chain.
3. Liquid Custody
BounceBit introduces Liquid Custody, enabling users’ assets to stay liquid while being secured in centralized regulated custody. You can participate in Liquid Custody on bouncebit.io by depositing BTCB & FDUSD on BNB Smart Chain and WBTC & USDT on Ethereum Network. After your deposits, Liquid Custody Tokens (LCTs) will be issued to you on the corresponding chain. BTCB and WBTC deposits will receive BBTC as LCT, while FDUSD and USDT deposits will receive BBUSD as LCT.
4. Bridging onto BounceBit
LCTs can be bridged to BounceBit via MultiBit Bridge or Polyhedra’s zkBridge. Additionally, MultiBit will support the bridging of native Bitcoin onto BounceBit. Gas fees are denominated in the coin of the origin chain, e.g. if you bridge from BNB Smart Chain to BounceBit, you have to pay gas fee in BNB.
5. BounceClub
BounceClub is a vital part of the BounceBit ecosystem, offering an on-chain Web3 universe designed for everyone to create and engage. BounceClub owners can customize their Clubs to enhance project visibility and community engagement. Club members can enjoy a variety of Web3 activities within these Clubs. The BounceBit App Store within the BounceClub ecosystem features an extensive selection of Web3 apps, from DeFi and Gaming to SocialFi and AI. Club owners can conveniently choose and integrate these apps into their Clubs, providing functionalities and DeFi yield opportunities for Club members.
Outlook
Going forward we will be focusing on growing the ecosystem with BounceClub. We will work on catalyzing the development of additional SSCs to build a resilient restaking infrastructure.
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