| Introduction | [
"BounceBit is the first-ever native BTC Restaking chain. The BounceBit network is secured by staking both Bitcoin and BounceBit tokens. BounceBit's PoS mechanism introduces a unique dual-token staking system by leveraging native BTC security with full EVM compatibility.\r\n\r\nIn 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.\r\n\r\nThe $BB token has several uses on the BounceBit platform:\r\n\r\nStaking: Stake $BB to actively participate in the PoS dual-token staking mechanism.\r\n\r\nProtocol Incentive: The token is paid out as staking reward to validators who secure the network.\r\n\r\nGas: $BB is the denomination of the gas fees that are required to conduct transactions and execute smart contracts.\r\n\r\nGovernance: Use $BB to participate in on-chain governance, e.g. voting on protocol upgrades.\r\n\r\nCurrency: $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.\r\n\r\n\r\nBounceBit’s Layer 1 consists of the following components:\r\n\r\nDual-token PoS: A hybrid consensus mechanism where each validator can accept both $BBTC and $BB tokens;\r\n\r\nNative LSD module: A module allowing the delegation of staking to validators and receiving a LST voucher in return.\r\n\r\nBounceBit has a foundational CeFi layer which consists of below components:\r\n\r\nRegulated Custody: All user funds are stored in secure custody solutions utilizing MPC wallets.\r\n\r\nOff-Exchange Settlement (OES): OES enables safe access to CEX liquidity, while transactions are settled off-exchange."
] |
