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BounceBit (BB) is a CeDeFi platform that leverages a dual-token PoS consensus mechanism to secure its network and provide high-yield opportunities. It supports EVM-compatible dApps and offers robust security and liquidity solutions. The BB token is central to the ecosystem, used for staking, transaction fees, governance, and more. Founded by Jack Lu, BounceBit aims to merge the strengths of CeFi and DeFi, enhancing the utility of Bitcoin and other digital assets.

BounceBit (BB) is a cryptocurrency platform designed to integrate the benefits of both centralized finance (CeFi) and decentralized finance (DeFi), a concept known as CeDeFi. It employs a dual-token Proof-of-Stake (PoS) consensus mechanism, using both BB and BBTC (Bitcoin on BounceBit) to enhance network security and functionality. The platform is EVM-compatible, allowing for the development and deployment of decentralized applications (dApps). Additionally, BounceBit incorporates liquid staking and custody solutions, providing users with flexible and secure asset management options​​​​​.

BounceBit’s primary utility token, BB, serves multiple roles within the ecosystem. It is used for staking in the dual-token PoS mechanism, which rewards validators and ensures network security. BB is also used to pay for transaction fees, execute smart contracts, and participate in on-chain governance, including voting on protocol changes and software upgrades. Furthermore, BB facilitates liquidity provision, delegation of staking rights, and engagement in the platform’s various yield-generating activities.