BounceBit (BB) is a native BTC restaking chain launched in 2024, designed to expand Bitcoin’s role in decentralised finance (DeFi) while maintaining security and decentralisation. It operates as a Proof of Stake (PoS) Layer 1 ecosystem to enhance Bitcoin's utility and value.
BounceBit supports dual-token staking, using Bitcoin (BTC) and BB tokens for network validation and security. It is fully EVM-compatible, enabling seamless migration of Ethereum-based projects to the platform.
The chain integrates CeDeFi mechanisms, which is the combination of DeFi and centralised finance (CeFi), for bigger yield opportunities for users. It also offers liquid staking derivatives (LSDs), allowing users to maintain liquidity while earning rewards on staked assets.
BB also covers transaction fees and smart contract execution within the platform. Token holders can engage in governance, vote on protocol decisions and use BB as a medium of exchange for transactions within the ecosystem.