Tuesday, May 28, 2024

    Introducing BounceBit testnet: BounceClub East-to-West Event

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    BounceBit introduced early access with The Water Margin Event on January 30, 2024, inviting early contributors to boost Total Value Locked (TVL) and earn BounceBit points in return. Achieving remarkable milestones, BounceBit’s TVL soared to over $600 million within a month, complemented by securing $6 million in seed funding from leading investors Blockchain Capital and Breyer Capital. Today, we are thrilled to unveil our latest achievement: the BounceBit Testnet is officially live! Users are invited to enjoy an early experience of BounceClub and engage in staking on the BounceBit Testnet. Let’s dive into the features and opportunities BounceBit Testnet brings.

    The underlying philosophy: The concept of BounceClub

    The guiding philosophy of BounceBit is deeply motivated by Apple Inc.’s spirit of innovation and commitment to user-centric design. Apple’s success is attributed not only to the functionality of their products but also to their elegant design and user-friendly interface.

    Inspired by Apple’s business model, BounceBit aims to revolutionize traditional onchain development methods by introducing the concept of BounceClub and BounceBit App Store. As an integral part of the BounceBit ecosystem, BounceClub is designed to simplify smart contract deployment for everyone and minimize dApp redundancy.

    BounceClub serves as a Web3 hub enabling everyone to craft their own onchain space without any coding requirements. A BounceClub owner can customize their BounceClub by simply selecting protocols that are listed on the BounceBit App Store, just like downloading apps from the App Store on your iPhone. The BounceBit App Store functions as a library of Web3 plugins where developers are welcome to apply for listing their smart contracts, just like publishing apps on iOS’s App Store. Users who do not own a BounceClub can browse existing BounceClubs and engage in various Web3 activities to earn yield.

    Testnet BounceClub Event: Build on Bitcoin from East to West

    The BounceBit Testnet launch introduces multiple features: The BounceClub event, offering early access to BounceClub; BBScan, the explorer that tracks all activities on the BounceBit network; Dual-token staking, allowing users to stake BounceBit’s native token $BB and BounceBit’s uniformly mapped BTC $BBTC.

    The BounceClub Event is centered around the theme “Building on Bitcoin: From East to West,” emphasizing a global effort to expand and innovate within the Bitcoin ecosystem. This theme underlines the initiative to unite developers, enthusiasts, and contributors from diverse regions in shaping the future of Bitcoin-centric development and applications.

    To explore any of the Testnet features, you’ll need to get $BB tokens first from BounceBit’s discord channel. Everyone is welcome to participate in the BounceClub event as either a BounceClub owner or a BounceClub user. Here’s how it works:

    1. If you’ve registered for an account and deposited at least $10 at https://bouncebit.io/, you’re qualified to claim a Testnet BounceClub at https://testnet-club.bouncebit.io/claimClub. Then you can set it up by filling in the descriptions and selecting the protocols that you want to add to your club.
    2. If you haven’t deposited yet, you can simply browse the BounceClubs created by others at testnet.club.bouncebit.io and engage in the DeFi activities offered.

    There will be two sets of Testnet leaderboard tracking the level of engagement. One leaderboard ranks BounceClub Owners based on the total amount of transactions made in their Clubs, while the other one ranks BounceClub Users based on the amount of transactions made by each user.

    Advancing on the Testnet leaderboards brings numerous rewards upon the BounceBit Mainnet Launch in April. Notably, the top 6000 BounceClub Owners on the Testnet leaderboard will be eligible to claim the exclusive 6000 Mainnet BounceClubs when BounceBit Mainnet launches.

    Testnet supported assets: Mirrored tokens

    The Testnet BounceClub Event supports a variety of tokens that are mirrored from multiple platforms for users to engage in the DeFi activities within BounceClubs. The list of mirrored tokens includes:

    1. From BounceBit’s early access: $BTC, $WBTC, $AUCTION, $USDT, $MUBI, $FDUSD, $DAII

    More smart contracts and assets will be added to this list soon!

    About BounceBit

    BounceBit is building a BTC restaking infrastructure that provides a foundational layer for different restaking products, secured by the regulated custody of Mainnet Digital and Ceffu. The BounceBit chain, designed as a showcase of a restaking product within the BounceBit ecosystem, is a PoS Layer 1 secured by validators staking both BTC and BounceBit’s native token — A dual-token system leveraging native Bitcoin’s security with full EVM compatibility. Critical ecosystem infrastructure like bridges and oracles are secured by restaked BTC. Through an innovative CeFi + DeFi framework, BounceBit empowers BTC holders to earn yield across multiple networks.

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