BounceBit (BB) is a cryptocurrency platform designed to integrate the benefits of both centralized finance (CeFi) and decentralized finance (DeFi), a concept known as CeDeFi. It employs a dual-token Proof-of-Stake (PoS) consensus mechanism, using both BB and BBTC (Bitcoin on BounceBit) to enhance network security and functionality. The platform is EVM-compatible, allowing for the development and deployment of decentralized applications (dApps). Additionally, BounceBit incorporates liquid staking and custody solutions, providing users with flexible and secure asset management options​​​​​.

BounceBit’s primary utility token, BB, serves multiple roles within the ecosystem. It is used for staking in the dual-token PoS mechanism, which rewards validators and ensures network security. BB is also used to pay for transaction fees, execute smart contracts, and participate in on-chain governance, including voting on protocol changes and software upgrades. Furthermore, BB facilitates liquidity provision, delegation of staking rights, and engagement in the platform’s various yield-generating activities.

BounceBit was founded by Jack Lu, who also serves as the Chief Executive Officer. Jack Lu is a co-founder of Bounce Finance, a project related to the BounceBit ecosystem.