BounceBit Unveils Testnet Featuring Bitcoin Staking and Access to BounceClub
In Brief
With the launch of its testnet, BounceBit invites users to engage in Bitcoin staking and get a sneak peek of BounceClub's unique features.
Bitcoin staking protocol BounceBit (BB) revealed the launch of its testnet, giving participants the chance to engage in staking activities on the BounceBit platform while exploring BounceClub's early features.
The testnet launch for BounceBit highlights a variety of features, including the BounceClub event that allows early access, BBScan—a tool to track all transactions on the BounceBit network, and a Dual-token staking system where users can stake both BounceBit's native token BB and its Bitcoin equivalent BBTC.
Users can access the features of the testnet by acquiring BB tokens. The BounceClub event welcomes everyone, allowing participation either as a club owner or a user. Two leaderboards will be established: one for BounceClub owners ranking them by total transaction amounts for their clubs and another for users based on individual transactions.
The leading 6,000 BounceClub owners on the testnet leaderboard will have the exclusive chance to claim 6,000 BounceClubs on the mainnet upon its launch.
The BounceClub testnet event opens up a wide array of tokens borrowed from different platforms, enabling users to take part in decentralized finance (DeFi) activities within BounceClubs, including BTC, WBTC, AUCTION, USDT, MUBI, FDUSD, and DAII, among others.
Serving as an on-chain Web3 domain, BounceClub empowers users to create, launch, and engage with decentralized applications (dApps) within the ecosystem. Bitcoin ecosystem BounceClub acts as a central hub where users can tailor their Web3 initiatives by choosing tools and features from a rich selection available in BounceBit’s dedicated App Store.
BounceBit Pioneers Innovations in Bitcoin Restaking
Founded at the close of 2023, BounceBit is developing a robust infrastructure for Bitcoin restaking, laying the groundwork for a wide range of innovative restaking solutions, secured through regulated custody with Mainnet Digital and Ceffu.
The BounceBit chain serves as a showcase aimed at restaking products within its ecosystem, functioning as a proof-of-stake (PoS) Layer 1, with security provided by validators staking Bitcoin alongside BounceBit’s native token BB. The platform combines elements of centralized finance (CeFi) with DeFi, enabling Bitcoin holders to earn yields across various networks. Since its early access launch in January, the protocol has amassed over $474 million in total locked value (TVL).
In a recent funding round, BounceBit successfully raised $6 million, co-led by Blockchain Capital and Breyer Capital. These funds will accelerate development, grow the team, and support the mainnet launch scheduled for April. Bitcoin halving .
BounceBit’s introduction of the testnet and BounceClub demonstrates its unwavering commitment to transforming the landscape. Bitcoin restaking .
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