Binance Labs invests in BounceBit to advance Bitcoin utilization

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Binance Labs invests in BounceBit to remodel Bitcoin’s function with modern options.

Binance Labs, the enterprise capital and incubation division of Binance, has invested in BounceBit, a Bitcoin restaking and centralized decentralized finance (cedefi) protocol.

“BounceBit unlocks new avenues for Bitcoin’s utilization with the fusion of cefi and defi.”

Yi He, Co-Founding father of Binance and Head of Binance Labs

He additionally emphasised Binance Labs’ dedication to supporting innovators reshaping the business with safe and clear cedefi options.

BounceBit goals to remodel Bitcoin from a passive asset into an actively engaged ecosystem part. By enabling Bitcoin’s participation in community validation and yield-generating actions with out altering its blockchain, BounceBit introduces a novel strategy to digital asset empowerment.

A seasoned workforce leads the protocol with various experience throughout decentralized and conventional finance and layer 1 blockchain expertise. Prioritizing safety and transparency, BounceBit employs regulated custody and Multi-Celebration Computation (MPC) alongside modern options like Ceffu’s Mirror X and off-exchange settlement to mitigate counterparty dangers.

“It’s our mission to construct restaking infrastructure to drive the utilization of Bitcoin in a safe and clear method. Our concentrate on cedefi and creating a sturdy restaking ecosystem is just the start.”

Jack Lu, BounceBit Founder and CEO

With the backing of Binance Labs, BounceBit is about to discover new prospects for Bitcoin (BTC). It goals to reinforce yield era and broaden its purposes by a safe and environment friendly proof-of-stake (PoS) layer 1 ecosystem.

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