Here’s everything you need to know

BounceBit, a platform that deals with Bitcoin reclamation practices, has announced that it will land on mainnet on May 13, along with a list of BB tokens that will be partially distributed as airdrops to the project’s early adopters.

BounceBit is one of the most interesting and followed protocols in the cryptocurrency world with its promise to bring BTC directly to DeFi. It was able to raise a whopping $1 billion from TVL before its official launch.

Let’s take a look at all the details below.

BuonceBit’s blockchain re-staking, mainnet preparation

bounce beat, An innovative crypto protocol that aims to implement re-staking in Bitcoin, Own PoS blockchain scheduled to launch on May 13th It brings new opportunities to the cryptocurrency world and new interconnections between DeFi and CeFi.

This project was born with the following goals: Provide profits to native BTC holders by leveraging Funding Rate Arbitrage About the cryptocurrency futures market

By staking BTC on Bouncebit (or other tokens such as WBTC, BTCB, USDT, FDUSD), users agree to convert BounceBTC resources, a currency representing BTC stakes built with a more efficient standard for the EVM blockchain.

It is delegated to multiple validators who use it to launch their own services (similar to EigenLayer’s AVS), providing token holders with liquid staking derivatives stBTC and returns generated from interest rate arbitrage.

Like this, The security and liquidity of the Bitcoin world are inherited by the new protocol. Hybrid solutions between centralized and decentralized markets can be proposed to leverage high returns.

A few days ago, the BounceBit team presented its audience with the so-called “chain restoration” will be released on mainnet on May 13th.

Currently, until the official launch, all premium yields are suspended and you can no longer stake additional resources to earn additional yields.

In any case, your previous bets will continue to pay off depending on your chosen strategy.

From here until May 13th, node operators will be appointed and included in BounceBit’s initial set.We will enable BBTC/BB to be delegated to validators as soon as the mainnet is launched.

LCT distribution will take place over the next two days (May 12-13) to Early Access users on BounceBit Chain, BNB Smart Chain, and Ethereum.

If you have deposited assets on Bouncebit in the past few weeks, you can refer to the following image to understand how much LTC you will receive and the withdrawal waiting time.

Once these steps are completed, the Bouncebit network will be activated and BB tokens will be launched on major cryptocurrency exchanges.

WARNING: If you have deposited cryptocurrencies at premium yields, starting May 20th you will be able to withdraw your funds directly from the original chain (WBTC on Ethereum, BTCB on the BNB chain).

BB tokens will be launched on major cryptocurrency exchanges on May 13th: airdrop for early users

As said, BounceBit’s mainnet is the basis for BB listing.The project’s token that will play a very important role in PoS dual staking using the BTCB/BB pair.

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

Points earned in the protocol are converted into tokens for every eligible topic. As of now, you can’t see the conversion rate yet.

still, Because the snapshot has already been taken, you will not receive a new allocation if you interact with BounceBit now..

Although it is important to know that no claims can be made, Airdrops will be automatically distributed in the form of BB tokens on the new BounceBit blockchain..

Be aware of scams and be mindful of your interactions with your wallet regarding receiving your prize.

Along with the airdrop, the Megadrop event hosted by Binance will also conclude. Users are invited to try out the BounceBit protocol directly from the exchange’s web3 wallet.

At this stage, more than 100,000 individuals have participated in the initiative, making it one of the most followed ones led by Binance. Obviously, given the significant influx of farmers, the prize money will not be very attractive.

Rewards for Premium Yield Generation stakes and Megadrops are both available before BB trading begins.

With the launch of BB, in addition to withdrawing assets from liquid staking, premium yield generation for new stakers will also begin again.

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

As announced in the project, BB In addition to playing a fundamental role in proof-of-stake consensus, Used to cover transaction gas. Support BounceClub applications such as liquidity and vote on future governance decisions.

Although the maximum supply is set at 2.1 billion and the circulating supply is estimated to be 19.5% of the total, it is unknown what the listing price of BB will be.

Currently on Whales.market, each Bouncebit point is valued at $0.0089. Multiply the number of points earned by the market value to get a rough idea of ​​how much your airdrop will be worth.

Eyes and Crosses Estimated FV $10 Billion; Each BB is worth about $5.