- BounceBit is the firstever native BTC Restaking chain. - The BounceBit network is secured by staking both Bitcoin and BounceBit tokens. - BounceBits PoS mechanism introduces a unique dualtoken staking system by leveraging native BTC security with full EVM compatibility.In a groundbreaking move,BounceBit introduces the mixed #DeFi and #CeFi yield mechanism,allowing BTC holders to earn yields through native validator staking,DeFi ecosystem,and a CeFi mirroring mechanism powered by Ceffu and Mainnet Digital.The $BB token has several uses on the BounceBit platform:Staking: Stake $BB to actively participate in the PoS dualtoken staking mechanism.Protocol Incentive: The token is paid out as staking reward to validators who secure the network.Gas: $BB is the denomination of the gas fees that are required to conduct transactions and execute smart contracts.Governance: Use $BB to participate in onchain governance,e.g. - voting on protocol upgrades.Currency: $BB can be used as currency on the BounceBit platform. - It can be used in various applications and infrastructure,as medium of exchange or store of value.BounceBit’s Layer 1 consists of the following components:Dualtoken PoS: A hybrid consensus mechanism where each validator can accept both $BBTC and $BB tokens;Native LSD module: A module allowing the delegation of staking to validators and receiving a LST voucher in return.BounceBit has a foundational CeFi layer which consists of below components:Regulated Custody: All user funds are stored in secure custody solutions utilizing MPC wallets.OffExchange Settlement OES: OES enables safe access to CEX liquidity,while transactions are settled offexchange..
Summary of the coin BounceBit
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