Bittime - Bitcoin restaking focused platform, BounceBit, has announced the launch of their mainnet this May 13th. Additionally, their BB tokens will be listed on top crypto exchanges, some distributed via airdrop to early adopters.
BounceBit is one of the interesting and widely followed protocols in the crypto world. They promise to bring Bitcoin directly into the world of DeFi (Decentralized Finance).
They also managed to record a TVL of 1 billion US dollars before its official launch. So, this is what you need to know about BounceBit and the BB token!
Check Today's Crypto Market:
BounceBit Restaking Blockchain Comes to Mainnet
Sumber: Cryptonomist
BounceBit, an innovative crypto protocol that aims to implement restaking on Bitcoin, will launch their own PoS (Proof of Stake) blockchain on May 13. This will open new opportunities in the world of crypto and the relationship between DeFi and CeFi (Centralized Finance).
Also read: BounceBit Will Snapshot BounceBit Points Paradise on April 20
This project was born with the aim of offering yield to real BTC holders by utilizing funding interest rate arbitrage in the crypto futures market.
By staking their BTC on Bouncebit (or other tokens such as WBTC, BTCB, USDT, and FDUSD), users agree to convert their BounceBTC assets. BounceBTC is a representation of BTC built on a more efficient standard for the EVM blockchain.
These assets are then delegated to multiple validators who use them to run their own services (similar to EigenLayer's AVS). In exchange, token owners receive stBTC (liquid staking derivative) and profits generated from interest rate arbitrage.
Also Read How To Buy Crypto:
In this way, the security and liquidity of the Bitcoin world can be inherited by the new protocol, which can offer a hybrid solution between centralized and decentralized markets to take advantage of high yields.
Mainnet Launch, Premium Yield Termination and Airdrop
A few days ago, the BounceBit team announced the launch of their “restaking chain” on mainnet on May 13th. Until the official launch, all premium yield programs are suspended and users can no longer stake additional assets to earn extra yield.
Also read: BounceBit (BB) Megadrop Coming to Binance, How to Join?
However, previous bets will continue to generate profits based on the chosen strategy. Until May 13th, node operators will be selected and included in BounceBit's initial set. They can then delegate their BBTC/BB to validators once the mainnet is launched.
In the next two days (May 12-13), LCT distribution will take place for Early Access users on BounceBit Chain, BNB Smart Chain, and Ethereum.
Once these steps are completed, the Bouncebit network will be live and BB tokens will be launched on major crypto exchanges. Along with the launch on exchanges like Binance, there will be an airdrop for early adopters who have supported the protocol's growth by depositing coins in recent weeks.
Points earned on the protocol will be converted into tokens, but there is currently no conversion rate available. It is important to note that NO CLAIMS need to be filed.
The airdrop will be distributed automatically in the form of BB tokens on the new BounceBit blockchain. Beware of fraud and any interactions with your wallet related to claiming rewards.
Check Crypto Prices Today:
Along with the airdrop, the Megadrop program organized by Binance will also end. Rewards for the Premium Yield Generation and Megadrop programs will be available before BB trading opens.
With the launch of BB, the premium yield program for new stakers will also be reopened, in addition to withdrawing assets from liquid staking. MUBI, AUCTION and DAII tokens deposited during the Water Margin event will be returned to your Ethereum wallet.
Although BB's listing price is not yet known, its total supply is set at 2.1 billion tokens, and the circulating supply is estimated at 19.5% of the total. Currently, on Whales.market each Bouncebit point is priced at $0.0089.
This can be a rough idea of the value of your airdrop. The estimated fair value (FV) of BB is approximately $5. But keep in mind, this is just an estimate.
Dear Beli Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read also:
Binance Launches Megadrop for BounceBit (BB), What Is It?
Degen DeFi: Understanding Crypto Profit Hunters Who Aren't Afraid of Risk
Get to know Ethereum restaking, what it is and the 3 best restaking projects
What is Crypto Restaking? Listen to the explanation!
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.