TLDR:
- BounceBit has raised $6 million in a seed funding round to build Bitcoin restaking infrastructure.
- The funding round was led by Blockchain Capital and Breyer Capital, with participation from various other investors and angel investors.
BounceBit has closed a $6 million seed funding round to develop BTC restaking infrastructure. The round was led by prominent venture capital firms Blockchain Capital and Breyer Capital, with participation from a variety of investors and angel investors. The company aims to bring DeFi and other innovations to the Bitcoin community through BTC restaking. BounceBit has already accumulated $445 million in Total Value Locked (TVL) in just three weeks after its Early Access launch. The company’s innovative BTC Restaking mechanism is at the core of its project, exploring various use cases for restaking different types of Bitcoin. BounceBit’s infrastructure components, called Shared-Security Clients (SSC), will support restaking for various networks. The platform’s first SSC showcase will be its BTC Restaking Chain, which utilizes a dual-token system leveraging native Bitcoin’s security. BounceBit distinguishes itself by interacting with Bitcoin only on the asset level, taking a Layer 1 Proof of Stake approach. The company’s transparent CeFi foundation ensures the security of users’ assets via regulated custody. BounceBit’s roadmap includes a Testnet launch in early March and a Mainnet launch in April, coinciding with the Bitcoin halving. Through its CeFi + DeFi framework, BounceBit empowers BTC holders to earn yield through delta-neutral strategies while being protected by an insurance fund.
