Binance Labs invests in BounceBit to transform the role of Bitcoin with innovative solutions.
Binance Labs, the venture capital and incubation arm of Binance, has invested in BounceBit, a Bitcoin restaking and centralized decentralized finance (cedefi) protocol.
“BounceBit opens up a new path for Bitcoin usage by combining CEFI and DEFI.”
Yi He, Co-founder of Binance and Director of Binance Labs
He also highlighted Binance Labs' efforts to help innovators reshape the industry with secure and transparent cedefi solutions.
BounceBit aims to transform Bitcoin from a passive asset to an actively engaged component of the ecosystem. BounceBit introduces a new approach to digital asset empowerment by enabling Bitcoin participation in network validation and revenue-generating activities without changing the blockchain.
An experienced team will lead the protocol with diverse expertise across decentralized and traditional finance and layer 1 blockchain technologies. Prioritizing security and transparency, BounceBit employs regulated custody and multi-party computation (MPC) alongside innovative solutions such as Ceffu's Mirror reduce the risk of
“Our mission is to build a restaking infrastructure to facilitate the use of Bitcoin in a secure and transparent manner. Our focus at cedefi is to build a robust restaking ecosystem. Developing it is just the beginning.”
Jack Lu, BounceBit Founder and CEO
With the support of Binance Labs, BounceBit plans to explore new possibilities for Bitcoin (BTC). It aims to enhance revenue generation and expand its applications through a secure and efficient Proof of Stake (PoS) Layer 1 ecosystem.
