BounceBit Launches Testnet with Bitcoin Staking and BounceClub Access Features
In Brief
BounceBit launched its testnet enabling users to participate in Bitcoin staking activities and explore early access features of BounceClub.
Bitcoin staking protocol BounceBit (BB) announced the launch of its testnet, providing users with an opportunity to participate in staking activities on the BounceBit testnet and explore the early features of BounceClub.
The BounceBit testnet launch introduces several features, including the BounceClub event, providing early access to BounceClub, BBScan–an explorer tracking all activities on the BounceBit network, and Dual-token staking that enables users to stake BounceBit’s native token BB and BounceBit’s Bitcoin equivalent BBTC.
Users can access testnet features by obtaining BB tokens. Participation in the BounceClub event is open to all, offering options to join as either a BounceClub owner or a BounceClub user. Two testnet leaderboards will be implemented to monitor engagement, with one assessing BounceClub owners based on the total transaction amount within their Clubs and the other focusing on BounceClub users, ranking them according to individual transaction amounts.
The top 6,000 BounceClub owners on the testnet leaderboard will have the opportunity to claim 6,000 mainnet BounceClubs when the mainnet launches.
BounceClub testnet event facilitates the use of a diverse range of tokens mirrored from various platforms, allowing users to participate in decentralized finance (DeFi) activities within BounceClubs, including BTC, WBTC, AUCTION, USDT, MUBI, FDUSD, and DAII, among others.
BounceClub serves as an on-chain Web3 domain, providing users with the ability to create, launch, and engage with decentralized applications (dApps) within the Bitcoin ecosystem. Functioning as a central hub, BounceClub enables users to customize their Web3 projects by selecting tools and components from the diverse offerings from the dedicated BounceBit’s App Store.
BounceBit Accelerates Bitcoin Restaking Innovation
Founded in late 2023, BounceBit is building Bitcoin restaking infrastructure, serving as a foundational layer for diverse restaking products, secured by regulated custody of Mainnet Digital and Ceffu.
The BounceBit chain, designed as a showcase for a restaking product within the BounceBit ecosystem, operates as a proof-of-stake (PoS) Layer 1, secured by validators staking Bitcoin and BounceBit’s native token BB. Employing a conjunction of centralized finance (CeFi) and DeFi frameworks, BounceBit enables Bitcoin holders to earn yield across multiple networks. The protocol has accumulated more than $474 million in total value locked (TVL) within a few months since its early access launch in January.
Recently, BounceBit raised $6 million in a seed funding round co-led by Blockchain Capital and Breyer Capital. The funds will be utilized to expedite development, expand the team, and facilitate the launch of the mainnet in April, coinciding with the Bitcoin halving.
BounceBit’s testnet launch, along with the introduction of BounceClub, highlights its commitment to continue revolutioniznig Bitcoin restaking.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
