Home Cryptocurrency and Forex Updates BounceBit Mainnet Launch Ushers in New Era of CeDeFi Innovation

BounceBit Mainnet Launch Ushers in New Era of CeDeFi Innovation

BounceBit Mainnet Launch Ushers in New Era of CeDeFi Innovation
BounceBit Mainnet Launch Ushers in New Era of CeDeFi Innovation

BounceBit, a revolutionary CeDeFi (Centralized Decentralized Finance) platform, successfully launched its mainnet on May 13th, 2024. This marks a significant milestone in their mission to transform the DeFi landscape by offering secure, accessible, and high-yield financial products.

Enhanced Transparency with CeDeFi Dashboard

Committed to user experience and transparency, BounceBit has introduced a comprehensive CeDeFi Dashboard available at https://bbscan.io/. This one-stop platform empowers users to effortlessly track key metrics like inflow/outflow, bridging volume, deposit/withdrawal statistics, and more.

Streamlined User Experience with Portal and Feature Updates

The user-friendly BounceBit Portal (portal.bouncebit.io) serves as the central hub for interacting with the entire ecosystem. Here, users can leverage a wide range of features and services, including:

  • BBUSD & Node Staking Rewards Upgrade: The BBUSD yield structure is getting a boost! BBUSD will now be included in the node staking reward distribution alongside Premium Yield. This means users staking BBUSD in Premium Yield will earn additional BB rewards on top of the yield generated from delta-neutral Funding Rate Arbitrage. However, this exciting update is exclusive to subscriptions made on the BounceBit Chain.
  • Simplified User Experience: Recognizing that some DeFi mechanisms can be complex, BounceBit is introducing an optional automated feature. This innovation streamlines complex processes into a single user interaction, while still offering the flexibility of individual actions like stake delegation and Premium Yield subscription.

Expanding Accessibility with BEP-20 USDT Addition

Responding to user demand, BounceBit is adding support for USDT on the BNB Smart Chain (BSC). This means users can deposit USDT on BSC to acquire BBUSD and receive yield in USDT(BEP-20). As a result, FDUSD deposits will be paused soon.

Boosting Efficiency with BitSwap Integration

BitSwap, the leading DEX (Decentralized Exchange) on BounceBit Chain, is now conveniently accessible directly through the Portal. This integration allows users to seamlessly perform token swaps on the same interface where they stake, subscribe, and deposit, fostering a smooth user experience and optimizing asset flow.

Related Post: Bitfinex Lists VELAR: DeFi Innovation Meets Bitcoin Security

Ethena Partnership Unveils Groundbreaking High-Yield Product

BounceBit’s commitment to innovation extends beyond their platform. Through a strategic partnership with Ethena, a leading DeFi player, they are launching a groundbreaking high-yield product. Starting next week, users can earn a combination of:

  • sUSDE yield
  • ENA rewards
  • BB rewards
  • And 5x sats towards Ethena’s ongoing Sats Campaign

All within a single, user-friendly product!

About BounceBit

BounceBit is a leading pioneer in CeDeFi infrastructure. They empower users of all experience levels to access high-yield opportunities through:

  • Institutional-grade yield products
  • Restaking use cases
  • CeDeFi as a service

The BounceBit Chain, a secure dual-token Proof-of-Stake Layer 1 blockchain, leverages the combined security of Bitcoin (BTC) and the $BB token. This unique approach ensures top-tier security while maintaining full compatibility with the Ethereum Virtual Machine (EVM).

Bouncebit Chain
BounceBit Chain

BounceBit further enhances user confidence by implementing liquidity custody tokens (LCTs). In partnership with CEFFU, a regulated custodian, users can earn tangible interest from CeFi and utilize LCTs for restaking and on-chain farming.

Stay tuned! BounceBit is dedicated to continuous improvement and will be releasing even more exciting updates to enhance their ecosystem.

For more information, please visit the BounceBit website or social media channels.


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