BounceBit Aims To Democratize Investments In Bitcoin, Supported by Binance
.jpeg)
BounceBit, which is a restaking platform on Bitcoin network, has recently declared a comprehensive plan for 2024, with its main goal to democratize investments in Bitcoin that are high-yield. BounceBit plans to do this by combining Decentralized Finance and Centralized Finance (CeDeFi).
Currently, BounceBit is supported by Binance, which is one of the leading Centralized Exchanges (CEX). BounceBit aims to advance the framework, and launch innovative products, even as the technology behind Bitcoin is sustained.
On the 20th of May 2024, BounceBit made its plans public, and shared its idea of merging the infrastructure of the decentralized system of Bitcoin with the centralized framework of exchanges like Coinbase. BounceBit stressed that it doesn't plan to introduce a layer 2 network.
BounceBit further stressed that it wouldn't follow the likes of BRC-20 and Runes, which it believes are not for the long term. As of April 2024, Binance Labs, declared that it invested in BounceBit; and stated that the merging of DeFi and CeFi creates opportunities for enhanced Bitcoin utility.