BounceBit $BB - First project at MegaDrop by Binance

BounceBit

BounceBit (BB) is a project that aims to democratize access to high-value opportunities within the Bitcoin asset class. It combines the strengths of centralized funding (CeFi) and decentralized funding (DeFi) to create a unique CeDeFi system. The project's mission is to bring the benefits of transparent CeFi and DeFi to the masses by allowing Bitcoin holders to earn yield through various activities such as native validator staking, the DeFi ecosystem, and the CeFi mirroring mechanism.



BounceBit is built on a two-token proof-of-stake (PoS) mechanism, where each validator can accept both BBTC and BB tokens. In addition, the cryptocurrency has a Liquid Staking Token (LST) module built in, which allows you to delegate a bid to validators and receive an LST voucher in return.
The total supply of BB is 2,100,000,000, of which 409,500,000 (19.50% of the total token supply) are in circulation at the time of listing. The token can be used for a variety of purposes including rate, management, gas fees, confirmation fees, and as a medium of exchange or store of value.

Roadmap

BounceBit's 2024 roadmap focuses on three main areas:



BounceBit Portal: It acts as a user interface to interact with various cryptocurrency products, providing an easy-to-use platform to access and interact with BounceBit offerings.
BounceBit Chain: Serves as the settlement and execution layer of the project, ensuring efficient and transparent transactions on the chain. It is a layer 1 Proof of Stake (PoS) secured by validators that stakes both BTC and native BounceBit token, utilizing native Bitcoin security with full EVM compatibility.
BounceClub: The goal is to democratize CeDeFi development by allowing anyone to run CeDeFi products, fostering an ecosystem of innovation and growth.
The roadmap also includes key development goals such as optimizing the execution layer of the Ethereum Virtual Machine (EVM) to improve performance, increasing transaction chain throughput, and improving the communication layers to enable seamless integration of various functionalities.
BounceBit's vision is to bring the benefits of transparent CeFi and DeFi to the masses, allowing bitcoin holders to earn yield through various activities such as native validator stacking, DeFi ecosystem and CeFi mirroring mechanism.

Team

BounceBit is led by a team with experience in decentralized finance, traditional finance and Tier 1 blockchain technology. The team prioritizes security and transparency using regulated storage and multi-party computing (MPC). They aim to bring the benefits of transparent CeFi and DeFi to the masses, allowing bitcoin holders to earn yield through various activities such as native validator staking, the DeFi ecosystem, and the CeFi mirroring mechanism.



The team consists of individuals with expertise in blockchain technology, product development and finance. While the specific roles and experience of the team members are not disclosed in the information provided, it is clear that they have a variety of skills and experience that contribute to the development and success of the BounceBit project.

Audit



BounceBit has passed a security audit conducted by Cyberscope, a leading cryptocurrency company. The audit report covers various aspects of BounceBit's security, including smart contract audits, security ratings, KYC verification, blockchain monitoring, and more.
According to the audit report, BounceBit has passed 8 out of 10 security audits, with 2 of them requiring attention. The project is in the top 10% in terms of security rating, scoring 97 out of 100. The audit report also notes the project's market capitalization, trading volume, and price performance, indicating a strong and stable presence in the market.
Overall, the audit report shows that BounceBit has taken significant steps to ensure the security and transparency of its operations, which is critical to maintaining the trust of users and investors.

Tokenomics



BounceBit's tokenomics are designed to scale with its inherent ecosystem and facilitate a balanced distribution of tokens. The total number of BB tokens is capped at 2,100,000,000,000 (two billion and one hundred million coins). This number coincides with Bitcoin's total supply of 21 million.

The BB token serves several purposes on the BounceBit platform:
1. BB is the face value of the gas fees required to conduct transactions and fulfill smart contracts.
2. BB can be used as a liquid and universal currency on the BounceBit platform.

The token unlocking schedule is as follows:

Testnet & TVL Incentive: 4% of the total supply, fully unlocked at the Token Generation Event (TGE).
Investors: 21% of the total supply, with a 12-month lock-in period followed by monthly unlocks of 5%.
Team: 10% of the total offer, with a 12-month lock-in period and a monthly unlock of 2.5%.
Advisors: 5% of the total offer, with a 12-month lock-in period and a monthly unlock of 2.5%.
Binance Megadrop: 8% of the total offer, fully unlocked on TGE.
Market Making: 3% of the total offer, fully unlocked on TGE.
BounceClub & Ecosystem Reserve: 14% of total offer, 4.5% unlocked on TGE, followed by a 12-month lock-in period, then a 6-month unlock period with 6.5% monthly unlocks, followed by 2.5% monthly unlocks.
Staking Reward & Delegation Program: 35% of total supply unlocked over 10 years.

The BB coin acts as a complement to Bitcoin, being deeply woven into the Bitcoin ecosystem. It is designed to empower Bitcoin DeFi by providing Bitcoin holders with a secure and versatile platform to participate in restacking and profiting across multiple networks.

GitHub

BounceBit has a GitHub repository where developers can submit their decentralized applications (DApps) for review and potential placement in the BounceBit App Store. The repository contains documentation and deployment guides for launching a full-fledged node and becoming a validator on the BounceBit network. To submit a DApp for listing, developers need to create a request to create an app in the GitHub repository, providing details such as app name, description, icon, link, and smart contract source code. The BounceBit team will review the request and if approved, the DApp will be listed on the BounceBit app store.



The GitHub repository also contains files related to BounceBit Testnet, such as the genesis file and configuration files for starting a node. Developers can download these files to help quickly configure BounceBit Testnet settings.
Overall, the BounceBit GitHub repository serves as a platform for developers to interact with the BounceBit ecosystem, submit their DApps for review, and access resources to launch a node or gain validator status.

Ecosystem



The BounceBit ecosystem includes several key components:
The BounceBit blockchain: It is a Proof of Stake (PoS) Layer 1 secured validator that stakes both BTC and native BounceBit token using native Bitcoin security with full EVM compatibility.
BounceBit Portal: Acts as a user interface to interact with various cryptocurrency products, providing users with an easy-to-use platform to access and interact with BounceBit offerings.
BounceClub: Aims to democratize CeDeFi development by allowing anyone to launch CeDeFi products, fostering an ecosystem of innovation and growth.
CeFi + DeFi Framework: BounceBit brings CeFi and DeFi together to increase total blockchain value (TVL) and unlock diverse revenue opportunities through a unique mirror mechanism on the blockchain.
BTC restacking infrastructure: At its core, BounceBit creates a restacking infrastructure that serves as the foundation for various restacking products.
Two-Token Staking System: BounceBit's PoS Layer 1 blockchain is backed by validators that place bets on both BTC and BounceBit's native token. This allows BTC holders to earn yield through their own validator staking, participation in the DeFi ecosystem, and CeFi's mirroring mechanism.
Protected Ecosystem Infrastructure: The critical infrastructure of the BounceBit ecosystem, including bridges and oracles, is protected by restyled BTC.
Earnings on multiple networks: Through its unique CeFi + DeFi system, BounceBit allows BTC holders to earn income on multiple networks, opening up new opportunities to utilize bitcoin in the broader blockchain ecosystem.
Overall, the BounceBit ecosystem is designed to enhance the Bitcoin DeFi landscape by providing a secure and versatile platform for Bitcoin holders to restake and earn revenue across multiple networks.

Conclusion

BounceBit has a promising future with its innovative approach to combining centralized finance (CeFi) and decentralized finance (DeFi) to create a unique CeDeFi system. The project has attracted significant investment, with a $6 million seed funding round led by Breyer Capital and Blockchain Capital. These funds will be used to build the BTC Restaking infrastructure, which is a key component of BounceBit's strategy to democratize access to high-value opportunities in the Bitcoin asset class. In addition, BounceBit has a solid foundation and a clear roadmap for future development, making it a project worth keeping an eye on in the cryptocurrency space. It should be noted that the upcoming token unlocking event with investors and the team may lead to an increase in the BB token price.
In my portfolio, BB is priced at $0.364 and is targeting a price of $1.20, aiming for a market capitalization of 1 billion. This project has several green flags, including the first Mega Drop on Binance, setting a precedent for future successful launches. BB also boasts excellent fundamentals, small market capital, a focus centered on Bitcoin infrastructure following the emergence of the Bitcoin ETF, a structured listing, and active development. All these factors convinced me to invest in this project.


BB Panic sellers. It's the first Binance MegaDrop project and it will not fail. #BB = 1 USDT

Best regards EXCAVO