Bitcoin
Binance-Backed Bitcoin Reestablishment Startup BounceBit Reveals Roadmap
BounceBit announced its roadmap to democratize high-yield opportunities in Bitcoin investing by merging centralized and decentralized finance.
BounceBit, a new Bitcoin reestablishment of a startup supported by Binancerevealed its roadmap for 2024, outlining the key aspects the project plans to implement this year.
On a Average blog post On May 20, BounceBit announced its intention to combine the structure and liquidity of centralized exchanges like Coinbase while building decentralized infrastructure for Bitcoin “as an asset, without changing its core technology.” The startup has explicitly stated that it will not launch a sidechain or layer-2 solution, saying that “recent trends like runes and BRC-20 tokens seem to capitalize on temporary enthusiasm rather than address long-term needs.”
“You may not agree, the market may not agree, and that’s okay, we’re venturing down this path anyway.”
Bounce Bit
Although BounceBit’s roadmap to 2024 does not mention dates, the document focuses on several key developments this year. The startup aims to enhance the BounceBit Chain – a layer-1 proof-of-stake chain secured by validators staking Bitcoin and BounceBit’s native BB token – by optimizing the Ethereum Virtual Machine (EVM) execution layer to improve the performance of the at the.
Other planned improvements include developing a shared security client module to allow other projects to utilize BounceBit BTC re-chain liquidity, building a new mempool module to achieve higher transaction throughput, and refactoring the inter-EVM communication layer and Cosmos SDK, a framework for developing blockchain networks.
BounceBit Solution Design | Source: Binance
In addition to infrastructure improvements, BounceBit plans to launch the Fixed Earn product, offering fixed income for Bitcoin and dollar assets, similar to traditional crypto loans. The company will also launch BounceClub, a service that allows users to create their own centralized-decentralized finance (cedefi) products using the BounceBit widget. For contract deployment, it is understood that BounceBit will maintain a special whitelist, although the verification method is not yet known.
In early April, Binance Labs, the venture arm of Binance, announced your investment in BounceBit. Although the size of the deal was not disclosed, Yi He of Binance Labs stated that the startup “unlocks new avenues for utilizing Bitcoin with the fusion of cefi and defi.”