Binance-Backed BounceBit Unveils Ambitious 2024 Roadmap to Revolutionize Bitcoin Investing

Binance-Backed BounceBit Unveils Ambitious 2024 Roadmap to Revolutionize Bitcoin Investing

BounceBit, a promising new Bitcoin restaking startup backed by Binance, has revealed its comprehensive roadmap for 2024. The project aims to democratize high-yield opportunities in Bitcoin investing by seamlessly merging centralized and decentralized finance (CeFi and DeFi).

In a detailed Medium blog post on May 20, BounceBit laid out its plans to blend the structural liquidity of centralized exchanges with decentralized infrastructure. The startup emphasized its commitment to enhancing Bitcoin as an asset without altering its core technology, explicitly stating that it will not launch a sidechain or layer-2 solution. “Recent trends, like runes and BRC-20 tokens, seem to capitalize on temporary hype rather than addressing long-term needs,” BounceBit asserted.

Despite not specifying exact dates, BounceBit’s 2024 roadmap outlines several key developments. The primary focus will be on enhancing the BounceBit Chain, a proof-of-stake layer-1 chain secured by validators staking both Bitcoin and BounceBit’s native token, BB. The startup plans to optimize the Ethereum Virtual Machine (EVM) execution layer to improve node performance.

Additional planned improvements include developing a shared security client module to enable other projects to leverage the liquidity of the BounceBit BTC restaking chain, constructing a new mempool module to increase transaction throughput, and refactoring the communication layer between EVM and Cosmos SDK, a framework for building blockchain networks.

BounceBit also plans to introduce innovative products and services. The Fixed Earn product will offer fixed income for Bitcoin and dollar assets, similar to traditional crypto lending. Moreover, the company will launch BounceClub, a service that allows users to create their own CeDeFi products using BounceBit’s widget. Contract deployment will be managed through a special whitelist, though the verification method is yet to be disclosed.

In April, Binance Labs, the venture arm of Binance, announced its investment in BounceBit. While the investment amount remains undisclosed, Binance Labs’ Yi He praised the startup, stating that it “unlocks new avenues for Bitcoin’s utilization with the fusion of CeFi and DeFi.”

BounceBit’s ambitious roadmap for 2024 marks a significant step towards revolutionizing Bitcoin investing, aiming to provide a robust and innovative platform that merges the best of both centralized and decentralized finance.

Powered by Crypto Expert BD

Follow us on Twitter:

Join our Telegram channel:


No comments yet. Why don’t you start the discussion?

Leave a Reply

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