The quote “BounceBit unlocks new avenues for Bitcoin’s utilization with the fusion of cefi and defi.” is from Yi He, Co-Founder of Binance and Head of Binance Labs. He emphasized Binance Labs’ commitment to supporting innovators reshaping the industry with secure and transparent cedefi solutions. By enabling Bitcoin’s participation in network validation and yield-generating activities without altering its blockchain, BounceBit introduces a novel approach to digital asset empowerment. BounceBit prioritizes security and transparency, employing regulated custody and Multi-Party Computation (MPC) alongside innovative solutions like Ceffu’s Mirror X and off-exchange settlement to mitigate counterparty risks.
The mission of BounceBit is to build restaking infrastructure to drive the utilization of Bitcoin in a secure and transparent manner, aiming to enhance yield generation and broaden its applications through a secure and efficient proof-of-stake (PoS) layer 1 ecosystem.