ChainCatcher news, according to CoinDesk, BounceBit has completed the Bitcoin derivative strategy test based on BlackRock BUIDL fund, with an annualized return rate exceeding 24%.
The strategy includes BTC basis trading (spot long + futures short) and BTC put option selling, both using BUIDL tokens as collateral. The strategy revenue consists of three parts: 4.7% annualized basis trading, 15% options strategy, and an additional 4.25% US Treasury yield from BUIDL itself. Compared to the zero-yield stablecoin collateral scheme, this model significantly improves capital efficiency.
BounceBit founder Jack Lu stated that this provides a new option for investors to simultaneously obtain US Treasury yields and crypto market arbitrage opportunities. BounceBit plans to open this strategy to institutional and retail users through its new product line BB Prime.
