13 May

BounceBit, the Bitcoin restaking chain, has unveiled new functionalities and issued warnings to its user base. Users now have convenient access to view available BounceBit airdrops via the BounceBit Portal, with automatic distribution expected within hours. Furthermore, the Premium Yield for staking has been reintroduced.

However, users are cautioned to exercise vigilance as 23pds, the chief information security officer at SlowMist Technology, has raised an alert. The top search result on Google for "BounceBit" leads to a phishing website. Users are strongly advised to verify the authenticity of websites to mitigate the risk of potential online fraud related to BounceBit airdrops.

Creating New Value for Bitcoin with BounceBit's CeFi + DeFi Framework

With its CeFi + DeFi framework, BounceBit sets itself apart and enables Bitcoin holders to generate income from many sources. The infrastructure it suggests is built around the asset-driven value of Bitcoin and requires validators to hold both BTC and BounceBit tokens through the Proof of Stake method.

By creating a mutually beneficial relationship between BTC and its native token, $BB, the platform hopes to improve network security and the inherent value of Bitcoin. Staked assets like BTCB and Wrapped Bitcoin (WBTC) are included in BounceBit, along with interoperability with EVM-compatible networks.

$BB, with a token cap of 2.1 billion, serves various roles within the platform, serving as a currency, exchange medium, and store of value.

BounceBit remains committed to its goal of reshaping Bitcoin's value, offering a robust and adaptable network for its user base. Users are urged to remain cautious against phishing attacks and emphasize security while interacting with the platform.

May 2024, Cryptoniteuae

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