TLDR:
- BounceBit, a BTC restaking infrastructure, raised $6 million in a seed round led by Blockchain Capital and Breyer Capital.
- The company plans to use the funds to accelerate the development of its Shared Security Protocol on Bitcoin.
BounceBit, a BTC restaking infrastructure, completed a $6 million seed round co-led by Blockchain Capital and Breyer Capital. The fundraising attracted participation from more than 20 Web3 venture firms, including dao5, CMS Holdings, Bankless Ventures, NGC Ventures, and Matrixport, among others. The company plans to use the fresh capital to accelerate the development of its BTC staking infrastructure, specifically focusing on the Shared Security Protocol. This comes at a time when crypto restaking protocols are gaining popularity, with other protocols like EigenLayer and Ether.fi also attracting investments. BounceBit’s primary innovation is the concept of Shared Security Clients, integrating restaked assets into their validation semantics. The company’s roadmap includes a Testnet launch on March 8 and a Mainnet launch in April coinciding with the Bitcoin Halving. With a growing TVL of $445 million, BounceBit aims to support yield generation for all types of Bitcoin across various networks.
