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BounceBit’s 2024 Roadmap Announced: Key Developments Post-Mainnet Launch

2 mins
Updated by Lynn Wang
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In Brief

  • BounceBit unveils its 2024 roadmap, outlining key plans post-mainnet launch and CeDeFi integration.
  • The 2024 roadmap includes upgrades to BounceBit Chain, enhancing performance and user experience.
  • BounceBit focuses on providing stable income opportunities and democratizing high-yield access for users.
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On May 20, one week after its mainnet launch, BounceBit, a Bitcoin restaking protocol, unveiled its detailed 2024 roadmap.

The roadmap highlights the company’s plans to enhance the integration of centralized finance (CeFi) with decentralized finance (DeFi), forming a hybrid known as CeDeFi.

BounceBit Aims to Merge the Best of CeFi and DeFi

BounceBit’s 2024 roadmap outlines a series of upgrades and new product offerings. These plans are designed to strengthen its ecosystem and improve user experience. The roadmap intends to optimize its blockchain infrastructure, enhance liquidity, and provide diverse yield-generating options for investors.

The project sees key issues in both sectors. Centralized platforms offer structure and accessibility, but they often conflict with crypto’s core values of transparency and decentralization. Conversely, DeFi provides direct market participation but struggles with smart contract security and scalability challenges.

Read more: CeFi vs. DeFi: Everything You Need To Know

By integrating the best aspects of CeFi and DeFi, BounceBit aims to democratize access to high-yield opportunities traditionally reserved for top asset management firms. The BounceBit Chain, the project’s blockchain infrastructure, ensures secure and efficient settlement and record-keeping. Users can earn staking rewards and participate in yield-generating activities using a dual-token proof-of-stake system.

Liquid Custody Tokens (LCT) play a central role in BounceBit’s ecosystem, bridging CeFi and DeFi. These tokens enable users to earn interest from CeFi while participating in Bitcoin staking and on-chain farming.

“All LCTs are backed 1:1 by equivalent assets in custody, and they stay there until the LCT is redeemed. Custody is effectively an aggregated pool of assets, in a passive state, until they are not,” the BounceBit team wrote in its roadmap.

The integrated ecosystem offers three yield types: CeFi yield from arbitrage and lending, staking rewards, and opportunity yield from engaging in the BounceBit chain ecosystem.

Additionally, BounceBit Chain will see major upgrades to improve performance and usability. These include optimized EVM execution, a shared security client module, a new mempool module for higher transaction throughput, and refined communication between EVM and Cosmos software development kit (SDK).

BounceBit also introduces BounceClub. This club focuses on providing CeDeFi as a service, allowing users to launch their own products using BounceBit’s infrastructure.

Read more: Which Are the Best Altcoins To Invest in May 2024?

BB Price Performance.
BB Price Performance. Source: BeInCrypto

According to BeInCrypto’s previous report, BounceBit launched its mainnet on May 13, along with an airdrop of its native token, BB, which several crypto exchanges listed. Despite a current market capitalization of $130.4 million, BB’s price has decreased from $0.46 at launch to $0.31, reflecting a 6.77% drop in the last 24 hours.

Top crypto projects in the US | June 2024

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Lynn Wang
Lynn Wang is a seasoned journalist and content creator with over eight years of experience in digital marketing and cryptocurrency journalism. Her expertise lies in SEO strategy, blockchain technology, and Web3, where she has consistently delivered impactful content initiatives and engaged audiences effectively. Since January 2022, Lynn has been at the forefront of content and community efforts for BeInCrypto Indonesia. Under her leadership, the platform has witnessed remarkable growth,...
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