Crypto:
30349
Bitcoin:
$64.253
% 0.30
BTC Dominance:
%54.0
% 0.22
Market Cap:
$2.34 T
% 1.02
Fear & Greed:
63 / 100
Bitcoin:
$ 64.253
BTC Dominance:
% 54.0
Market Cap:
$2.34 T

OKX Ventures Invests in BounceBit

Okx

OKX Ventures, the investment arm of the prominent Web3 technology firm OKX, has made a strategic investment in BounceBit, a platform focused on developing infrastructure and solutions for Bitcoin (BTC) restaking. Since its launch, BounceBit has achieved a significant milestone, with a total value locked (TVL) of USD 510 million within its first month.

The BounceBit chain operates as a proof-of-stake (PoS) Layer 1 network, employing a distinctive dual-token system that combines the security of native BTC with full compatibility with the Ethereum Virtual Machine (EVM). Through BTC Restaking, BounceBit provides shared security for its infrastructure and decentralized applications (DApps). For example, bridges and oracles will undergo validation through restaked BTC.

Dora Yue, the Founder of OKX Ventures, commented: “BounceBit has revolutionized the value and utility of BTC. By implementing a dual-token system, BounceBit seamlessly integrates features from both centralized finance (CeFi) and decentralized finance (DeFi), achieving elevated levels of security and cross-chain interoperability. BounceBit’s offerings empower BTC holders to earn profits across various networks and contribute to enhancing the value of the entire BTC ecosystem. We eagerly anticipate the upcoming Bitcoin halving event, which is expected to attract a wider user base and facilitate additional use cases for BTC.”

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on TelegramYouTube and Twitter for the latest news and updates.

Rate this post
READ:  FTX Sells Shares as Bankruptcy Costs Increase

Leave a Reply

Your email address will not be published. Required fields are marked *