This article is a press release, written and provided by BounceBit, and has nothing to do with the position of BounceBit.
The Bitcoin staking Layer 1 project BounceBit is building an infrastructure for BTC restaking, focusing on the CeDeFi concept, combining the advantages of CeFi and DeFi, building on CeFi, and enabling Bitcoin to be used in DeFi.
It uses a transparent CeFi model, powered by Ceffu's MirrorX technology and Mainnet Digital's managed services. Users can safely access a large amount of exchange liquidity through Ceffu's MirrorX OTC settlement solution and earn income through diversified trading strategies. At the same time, funds can be safely stored in the MPC wallet on the chain.
BounceBit partners with a number of experienced asset managers with long-term records of positive returns to trade through MirrorX. All asset managers use funding rate arbitrage as their trading strategy.
Since the launch of Premium Yield Generation on February 5, the platform has made a total cumulative profit of 48.28 BTC and more than 500,000 USDT in USDT. The average annualized rate of BTC is 15.9% and the average annualized rate of USDT is 46.29%.
What is BounceBit?
The BounceBit blockchain is used to showcase re-pledge products in the BounceBit ecosystem. It is Layer 1 based on the PoS mechanism and is protected by validators staking BTC and BounceBit native tokens. This dual-token system uses native Bitcoin security and is fully compatible with EVM. Key ecosystem infrastructure such as cross-chain bridges and oracles are protected by re-pledged BTC.
Through the innovative CeDeFi framework, BounceBit allows BTC holders to earn income across multiple networks.
CeFi on the BounceBit platform allows users to build assets on it. This is where BounceBTC (BBTC) comes into play, it is wrapped BTC backed by various types of BTC held in custody as collateral. BBTC can be used to participate in staking, re-staking and common DeFi activities on the BounceBit chain.
Users can think of BBTC as a certificate of escrow funds. Assets locked in CeFi revenue generation are not only safe, but can also earn additional revenue from DeFi on BounceBit L1, where users can enjoy lower fees, better security, greater accessibility, faster speeds, and lower costs experience.
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