BounceBit presents a unique approach by introducing a liquid restaking infrastructure specifically for Bitcoin, a concept that is usually more often applied in the context of Ethereum.
When users choose to stake BounceBit's native token (BB) or BBTC token (which represents Bitcoin that has been staked on the BounceBit network), they will receive a corresponding liquid staking (LST) token, namely stBB or stBBTC.
These LST tokens provide flexibility to their owners, as they can be directly reused in BounceBit's restaking protocol to generate more liquid restaking tokens (LRT).
As such, BounceBit not only provides an alternative use for the Bitcoin they hold, but also creates a mechanism that allows users to maximise their earning potential while increasing the security and sustainability of the network. By utilising the principle of liquid restaking, BounceBit creates an opportunity for Bitcoin holders to remain involved in the DeFi ecosystem and experience the benefits of a decentralised economic model.
With its liquid crypto staking mechanism, BounceBit opens up new horizons for Bitcoin holders to maximise the utility and optimise the benefits of owning this decentralised crypto asset. No longer limited to relying on price appreciation alone, they can take an active role in securing BounceBit's robust network, while reaping the rewards of continuous passive income.
Through a transparent and decentralised process, BounceBit invites the Bitcoin community to participate in building a mutually beneficial ecosystem. On the one hand, Bitcoin holders can diversify their sources of income in a secure and encrypted manner.
On the other hand, their involvement plays an important role in strengthening and maintaining the security and long-term stability of the BounceBit network.