here’s everything you need to know

BounceBit, a platform that deals with the practice of restake Bitcoin, has revealed that it will land on the mainnet on May 13, with the related listing of the BB token which will be partially distributed to the project’s early adopters as an airdrop.

BounceBit is one of the most interesting and followed protocols in the crypto world, given its promise to bring BTC directly into DeFi, so much so that it managed to attract the exorbitant sum of 1 billion dollars in TVL before the official launch.

Let’s see all the details below.

BuonceBit’s restaging blockchain is preparing for the mainnet

BounceBit, innovative cryptographic protocol that it intends to implement reformulation about Bitcoin, is about to launch its own PoS blockchain on May 13th bringing new opportunities to the world of cryptocurrencies and new interconnections between DeFi and CeFi.

This project was born with the aim of offering a return to native BTC holders by leveraging arbitrage of financing rates on cryptocurrency futures markets.

By staking their BTC on Bouncebit (or other tokens such as WBTC, BTCB, USDT and FDUSD), users agree to convert their assets to BounceBTC, which is a currency representing BTC staking built with a more efficient standard for EVM blockchains .

This is delegated to multiple validators, who use it to launch their own services (similar to AVS by EigenLayer), giving the token owner the liquid stBTC staking derivative in exchange, as well as the returns generated by interest rate arbitrage.

In this way, the security and liquidity of the Bitcoin world are inherited from the new protocols, which can propose hybrid solutions between centralized and decentralized markets to exploit high returns.

A few days ago, the BounceBit team announced to their audience that the so-called “retaking chain” will be launched on the mainnet on May 13th.

At this time, until the official launch, all premium returns will be suspended and it will no longer be possible to stake additional assets to earn additional returns.

In any case, previous bets will continue to earn based on the chosen strategy.

From now until May 13th, node operators will be named and included in the initial BounceBit setso they can delegate their BBTC/BB to validators as soon as the mainnet launches.

In the following two days (12-13 May) the distribution of LCT will take place for Early Access users on BounceBit Chain, BNB smart chain AND Ethereum.

You can refer to the following image to understand which LTC you are entitled to and what the waiting times are for withdrawals, if you have deposited assets on Bouncebit in the past few weeks.

Once these steps are completed, the Bouncebit network will become operational and the BB token will be launched on major cryptocurrency exchanges.

ATTENTION: if you have deposited crypto in the Premium Yield, you will only be able to withdraw the funds from May 20th onwards, directly to the original chain (WBTC on Ethereum and BTCB on BNB Chain)

The BB token will enter the market on May 13th on the main crypto exchanges: airdrop for the first users

As mentioned, BounceBit’s mainnet is behind BB’s listingthe project token that will play a very important role in PoS dual staking with the BTCB/BB pair.

Simultaneously with the launch of BB which will be included in several Tier-1 exchanges such as Binance, there will be the airdrop for early adopters of the platform who have supported the growth of the protocol by depositing coins in recent weeks.

The points obtained on the protocol will be converted into tokens for all eligible subjects: at the moment it is not yet possible to display a conversion rate.

Anyway, the snapshot has already been taken so interacting with BounceBit now will not give you the right to a new allocation.

It is essential to know that THERE ARE NO CLAIMS TO MAKE, but the airdrop will be automatically distributed in the form of BB tokens on the new BounceBit blockchain.

Pay attention to rip-offs and be wary of any interactions with your wallet related to claiming the reward.

The Megadrop event organized by Binance will also end together with the airdrop, where users were invited to try the BounceBit protocol directly from the exchange’s web3 wallet.

During this phase, over 100,000 individuals participated in the initiative, making it one of the most followed among those led by Binance. Obviously the rewards will not be that attractive, given the significant influx of farmers.

Both Premium Yield Generation stake and Megadrop rewards will be available before trading opens for BB

With the launch of BB, the generation of premium yield for new stakers will also be reopened, in addition to the withdrawal of assets from liquid staking.

MUBI, AUCTION and DAII tokens deposited during the Water Margin event will be returned to your Ethereum wallet. We cover gas rates.

As announced by the project, the BB resource, in addition to playing a fundamental role in proof of stake consensus, will be used to cover the transaction gas to support BounceClub applications like liquid assets and vote on future governance decisions.

We do not know what the listing price of BB will be, even if we know the maximum supply, set at 2.1 billion tokens, and the circulating supply estimated at 19.5% of the total.

Currently on Whales.market each Bouncebit point is priced at $0.0089: we can get a rough idea of ​​how much the airdrops will be worth by multiplying the number of points obtained by their market value.

At a rough estimate, with an FV estimated at 10 billion dollars, each BB should be worth around $5.

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