Why Sidechains Should Matter to Every Blockchain Project 128

Blockchain technology has proven to be quite appealing to companies all over the world. Some developers are even looking toward the future of this concept. Sidechains can alleviate a lot of stress from the main blockchain by focusing on specific types of information. The main business model of a blockchain won’t work well when it comes to scaling. With a sidechain, scaling concerns are less of an issue, assuming they are implemented correctly.

The concept of sidechains is nothing new in the world of blockchain technology. A few projects already focus on leveraging this new technology. However, there is a big difference between testing the technology and implementing it in the real world. Sidechains may effectively become a necessity if blockchain is ever to go mainstream. With a strong focus on interoperability and scalability, this implementation of blockchain technology will certainly be of great interest.

Sidechains Alleviate Blockchain Scaling Concerns

More specifically, leveraging sidechain technology offers a few benefits. Connecting different blockchains together is not natively supported. However, with sidechains, it is effectively possible for projects to let different chains communicate with one another without any major issues. Any transactions occurring on a sidechain can be picked up by nodes on the main chain to record it. Every sidechain will trust the main chain for cross-chain transactions of any kind.

There are some other benefits to using sidechains as well. Rather than using the main chain to record transactions one after another, sidechains can alleviate the concerns. There is an option to introduce parallel computing in this regard. This also allows for on-demand transaction scaling across the different chains accordingly. It provides a lot more blockchain “capacity” without causing any bloat. With more sidechains, transaction scaling also becomes a trivial matter eventually. On paper, this technology sounds incredibly powerful, for obvious reasons.

The big question is whether or not any projects will pursue this option. Not every use case for blockchain technology warrants the use of parallel chains. At the same time, there is no reason not to look into this option either. With a proper multi-chain interoperable infrastructure, a lot of potential use cases can be unlocked. Whether or not that is the next logical step in the evolution of blockchain, remains to be seen. It is certainly possible we will see a few interesting developments in this regard.

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Entangle: Launching March 13th 5612

Entangle has recently announced its highly anticipated launch date, March 13th.

Entangle provides a comprehensive suite of fully customizable Omnichain solutions, providing the core primitives and tools needed to connect anywhere, anytime.

This is accomplished in 4 parts:

  • Photon Messaging: Highly customizable Omnichain messaging protocol for any EVM or non-EVM network.
  • Universal Data Feeds: Low-latency, low-cost data infrastructure for any Web2 or Web3 data source. Both price-feed data and generalizable data are supported and delivered to smart contracts on any chain.
  • Liquid Vaults: Composable derivative tokens for any Web3 asset, making assets omnichain and increasing capital efficiency while still earning yield on the underlying asset.
  • Entangle VRF (e-VRF): Provides highly secure, verifiable, and unpredictable numbers, ideal for projects needing randomness. Seamlessly integrates with Entangle’s Universal Data Feeds and Photon Messaging, supporting on-chain applications such as gaming, NFTs, gambling, lottery systems, and beyond.

To reach mainstream adoption, all blockchain complexities must be abstracted away. A seamless user experience on the front-end requires all Web2 and Web3 data and assets to be seamlessly interconnected.

To date, 65+ strategic partnerships have been established with industry leaders, including Arbitrum, Mantle, Linea, Polygon, Stargate, Aave, Velodrome, SushiSwap, and more.

Entangle Labs

Entangle Labs is poised to revolutionize the Web3 space with building core primitives around the Entangle infrastructure, providing key Web3 verticals with Omnichain tooling. Entangle’s application, tools and components serve as the backbone of an Omnichain ecosystem, fostering a network of interconnected, highly efficient dApps and tokens.

Entangle Blockchain

Entangle’s Blockchain is the key component of the ecosystem, authenticating, validating and storing data in a cost effective way. Entangles blockchain has been designed with scalability, speed, customizability for smart contracts and low cost storage in mind. Secured by 100 validators and in conjunction with Photon Messaging (see below), the blockchain is the hub for developers to execute operations and data flow across any EVM and Non EVM-Chain.

Photon Messaging

An Omnichain Messaging Protocol introducing the highly customisable, upgradeable distributed network of Entangle Agents (DPoS). Orchestrated by the Master Smart Contract on the Entangle Blockchain, Photon Messaging enables protocols to send and receive data, assets and more across any EVM and non-EVM Chains and allows for state acquisition of any blockchain. Integrated across 15+ chains (and counting) developers and applications are now able to fully customize their data flow with logic, including security parameters and fees or simply opt for an automated solution. Photon messaging takes an unprecedented approach to omnichain communication, opening up the doors for native omnichain assets and various other use cases.

Universal data feeds

Entangle recognises that data access outside of Web3 is equally as important as that housed on chain. Universal data feeds allows customizable, high-frequency data feeds from any source to be queried and accessed by smart contract on any chain, including but not limited to DEFi, GameFi, AI and Real World Assets. Developers can leverage Universal Data Feeds to obtain efficient, inexpensive, verifiable on-demand cross-chain and off-chain data.

Liquid Vaults

The premier composable finance application that allows users to create Composable Derivatives Tokens (CDTs) against on-chain yield-bearing assets increasing their capital efficiency. This represents the next evolution of digital assets and ecosystem optimisation, allowing dApps to share liquidity.

WebverseNFT

An alternate reality that embodies Entangle Protocol’s infrastructure. By adapting lore-driven NFT Mechanics, Entangle transforms complex ideas into engaging narratives and resolves web3 community fragmentation.

e-Bridge

e-Bridge is a fully composable omnichain trustless bridge, utilizing the Burn and Mint or Lock and Unlock mechanisms to securely transfer NGL, Borpa, ZeroSum and other partner project tokens across 14+ networks. Entangle envisages the e-Bridge to be the premier launch partner to an ever growing demand for omnichain token launches.

e-VRF

e-VRF is an On-Chain Verifiable Random Function (VRF) that operates to enhance the engagement, fairness, and security of dApps. This solution leverages the agent network and other core components of Entangles infrastructure to generate random numbers. E-VRF unlocks a vast array of opportunities for dApps throughout the entire Web3 landscape including on-chain gaming, speculation driven dApps, lottery systems and more.

ZeroSum

A revolutionary gaming infrastructure platform that rewards players, viewers and game developers. Using cutting-edge AI and smart contract technology, Zerosum is redefining the gaming experience, transitioning play-to-earn into the more user-centric compete-to-earn. ZeroSum leverages Entangle’s technology to allow omni-chain wagering and tournaments for both viewers and players delivering a transparent path to revenue for all parties including game developers.

Borpa Memetoken

The Next Generation MemeToken. Natively deployed omnichain across Solana, Blast, Arbitrum and more with a dual-themed approach that appeals to both novices and crypto veterans. Borpa also leverages intricate DEFi mechanics with Entangle’s Liquid Vaults to power its unique financial game, encouraging participation via yield opportunities.

SuperCharge dApp

SuperCharge revolutionizes lending with leveraged yield farming. Built using the Entangle infrastructure, the application utilizes the innovative Liquid Vaults to allow users to collateralize yield positions.

Yield Lottery dApp

The Yield Lottery dApp is gamifying the Entangle ecosystem, incentivizing both liquidity providers and Liquid Vaults users. By opting into a Yield Lottery, participants can decide to opt into an on-chain randomised lottery with a portion of their yield and not the underlying collateral. This additional utility for liquid vaults is designed to attract enhanced liquidity from both experienced and novel users.

Decentralised Physical Infrastructure (DePin)

Entangle recognises the criticality of DePin infrastructure, in particular in the artificial intelligence (AI) arena and how the added benefits of blockchain can bring mass benefits across global sectors. Entangle is currently developing an Omnichain, liquid DePIN solution, where resource clustering is not only powered by efficient algorithms but resource providers can opt in and be rewarded transparently on any blockchain.

In doing so, Entangle will democratise fair access to a unique and rare opportunity, curating a harmonious balance of smart contracts, blockchain, AI, physical infrastructure and privacy across any Web3 ecosystem.

L2 Rollups

Entangles infrastructure is designed with the ability to construct Layer 2 Rollups and other scalability solutions. In doing so, Entangle is set to greatly enhance its blockchain scalability when required to do so. This will empower application developers to craft fully customizable and interoperable solutions at scale.

Velo Is Enhancing Its Own Ecosystem Through Interoperability 5934

As new blockchains and blockchain-based platforms emerge, it’s crucial for these ecosystems to be interconnected, enabling users to seamlessly transfer their assets without complications. Velo is enhancing its own ecosystem through interoperability, aspiring to become a pivotal connection point for various blockchains.

A significant update within Universe is its support for multiple wallet addresses on a single platform, catering to users who possess multiple wallets across different platforms. This feature is essential for managing diverse assets conveniently.

Furthermore, Universe is integrating multi-chain login and registration support for networks such as Solana and Tron, thereby improving Velo’s accessibility and usability. Efforts are in place to refactor the user database and management code, ensuring a smooth and secure experience.

Velo is advancing its blockchain integration by incorporating the Solana and Tron networks, aiming to offer enhanced deposit and withdrawal functionalities to enrich its ecosystem. This initiative involves deploying Solana and Tron chain-node and full-node functionalities, thereby broadening the network’s diversity and user options. Additionally, Universe is introducing a dedicated user interface (UI) for Solana transactions, encompassing deposit-withdrawal and account management across Webplus and mobile platforms, ensuring a seamless user experience.

This streamlined approach guarantees that Velo’s users have comprehensive and intuitive access to a broader range of transaction options, significantly boosting the platform’s utility and user engagement.

The integration with the Lightning Network marks a significant advancement in improving Bitcoin transactions. By implementing Lightning chain-node and deploying a BTC full-node, Orbit aims to streamline Bitcoin deposits and withdrawals, making them faster and more cost-efficient.

Velo’s dedication to ensuring inclusivity and connectivity with other blockchains is evident through the concrete steps it has taken. With aggressive strides towards unlocking the full potential of the Velo Protocol, Velo is poised for significant growth and innovation.

About Velo Labs

Velo Labs is a global pioneer in Web3-based financial solutions, offering a cutting-edge liquidity and settlement network for secure, efficient value transfers. Backed by Stellar Network and CP Group, our reach has expanded beyond Southeast Asia and the Pacific, now serving partners worldwide. We connect and complement the gap between traditional banking infrastructure and Web3, leading the way in blockchain mass adoption. Our extensive Web3-based payment network and Lightnet, our licensed settlement partner, position us as a global heavyweight. Velo Labs offers a diverse range of Web3-based products, notably Orbit, tailored for individuals, merchants, corporations, and enterprises worldwide — dedicated to empowering global financial connectivity and expanding accessibility globally.

Covalent’s Largest Set Of Structured Data in Web3 Pioneering the Fusion of AI, Security, and Data Quality 5907

As the wave of Artificial Intelligence (AI) continues to reshape industries, Covalent (CQT) emerges as a central player in the evolving landscape. AI, known for its reliance on vast sets of structured data, finds a robust ally in Covalent’s extensive dataset. Covering over 225 blockchains and supporting over 240 million wallets with its Unified API, Covalent provides the backbone for AI applications, offering a rich and structured foundation for model consumption, training, and product creation.

Google: A Lesson in Data Quality for AI

In the intricate realm of AI, the significance of data quality cannot be overstated. The potential for transformative innovation heavily relies on the accuracy and reliability of datasets. Google’s recent stumble with its Gemini AI tool reveals the critical role of data integrity in the space. The decision to halt Gemini due to inaccuracies and inadequate testing serves as a reminder of the risks associated with expediting AI product launches without thorough quality controls.

With Covalent, its protocol goes deeper than conventional approaches: it extracts data from various blockchains, uploads that data to a storage instance, indexes and transforms the stored data object, and loads the data into local data queried by API users. In short, Covalent’s cryptographically secure and standardization of all its extracted Web3 blockchain data creates a reservoir of structured information which is foundational to AI and machine learning training.

A Trusted Partner for the Web3 Landscape

At the core of the Covalent Network lies an innovative approach to data verifiability, designed with a tamper-resistant design and cryptographic proofs, it ensures the integrity and trustworthiness of accessed data. This unique feature not only distinguishes the Covalent’s Network but also serves as an essential mechanism in reshaping the foundations of Web3.

This is done by Block Specimen Producers (BSP) who extract the data and store it for multiple chains. To guarantee data integrity each BSP is running a script which keeps data secure and tamperproof. This ensures data integrity for Refiners who process the data, and later Query Node Operators who will serve the data (read more here).

Enterprises seeking high-quality data for their operations find a reliable partner in Covalent. The commitment goes beyond transactions, involving enterprises signing multi-year contracts including Fidelity, Rainbow, CoinGecko, and ConsenSys to secure a continuous stream of quality data.

The historically accurate data availability of Covalent lies in its ability to manage big data for customers with enhanced security, recently being awarded a SOC 2 certification for the highest enterprise grade quality assurance. By offering a robust dataset that meets the highest security standards, Covalent has become the trusted bridge between enterprises, crypto native projects and the wider Web3 ecosystem. Covalent’s offering ensures that customers have access to reliable and secure data, laying the groundwork for innovation and growth.

The Covalent Network: Built on Data Verifiability

As Covalent pioneers the fusion of AI, security, and data quality, it opens new horizons for innovation. Onchain data is continuously evolving with each block and indexed chain. By keeping data encrypted, and tamperproof it by design it mitigates future pitfalls with bad models and serves as a catalyst for innovative AI use cases. With thousands of Web3-specific applications already leveraging Covalent as their backbone data provider.

About Covalent

Covalent (CQT) powers the data layer in blockchain, enabling millions of users to build the new economy. It stands out for its deep commitment to democratizing blockchain data availability. Since its inception, Covalent has been helping developers, analysts, and enthusiasts with comprehensive, real-time data across over 200 blockchains. Learn how Covalent is building the Ethereum Wayback Machine.

Perp DEX SynFutures’ V3 Goes Live on Blast, Launches Oyster Odyssey Points Program 7112

SynFutures, a leading decentralized exchange for perpetual futures, today announced the launch of its new V3 platform for perpetual futures (“perps”) on Blast mainnet, featuring a proprietary order book Automated Market Maker (oAMM). This fully onchain deployment seamlessly integrates the strengths of an order book and AMM model into a unified liquidity model, enhancing capital efficiency and operational simplicity that brings its usability closer to centralized exchanges.

Enhancing Loyalty and Engagement with DEXs

The eventual convergence of retail investors around a decentralized solution, amid today’s uncertainties associated with CEXs, is increasingly holding weight as a viable reality. By recognizing the increasing DEX trading volume, suggestive of the start of its own bull run, SynFutures is making a strategic move to further enhance DEX user engagement. SynFutures is announcing its “Oyster Odyssey” Points Program, a redeemable loyalty program determined to allot points for engagement of on-chain activity while also qualifying users for the upcoming Blast airdrop.

SynFutures V3’s Capital Efficiency and Execution Simplicity Made on Par with CEXs

A surge in crypto market optimism, propelled by Bitcoin ETF approval, upcoming halving, and anticipation of Ethereum ETFs, is beginning to extend into DeFi and derivatives. Decentralized exchanges (DEXs) have faced challenges in capturing the derivatives market, representing only <1.0% on-chain compared to centralized exchanges’ dominance. The fundamental issue lies in DEXs’ pricing and execution competitiveness, hindering their share in the lucrative derivatives landscape.

Recognizing the challenges faced by decentralized perpetual futures exchanges, SynFutures is launching V3 with its orderbook Automated Market Maker (oAMM) on the Blast blockchain to bridge the existing gaps, setting a new standard for capital efficiency in the derivatives DEX space.

The decision to launch V3 on Blast, a Paradigm-backed optimistic rollup, is strategic. As with any rollups, Blast increases transaction speeds and lowers costs while maintaining Ethereum’s security. In particular, the Blast blockchain’s native yield feature has contributed to a total locked value (TVL) of approximately US $2 billion in its bridge, attracting more than 146,000 users.

“With these enhancements, SynFutures strives to achieve unparalleled capital efficiency with a derivatives DEX, positioning us to compete with CEXs on a more level playing field. V3 not only provides a secure and user-friendly environment but also addresses the obstacles limiting the widespread adoption of derivatives trading on DEXs,” Rachel Lin, Co-founder and CEO of SynFutures. “With the anticipation of more institutional participation in 2024, this upgrade will prepare us for the potential influx in trading volumes through improved trading throughput and reduced transaction costs,” she added.

“We are thrilled to welcome SynFutures to Blast. They moved fast as an early adopter on the Blast Testnet and we look forward to witnessing their continued success on the Blast Mainnet!,” said Pacman (Tieshun Roquerre), Core Contributor of Blast.

In fact, SynFutures witnessed remarkable signals suggesting the arrival of a tipping point in engagement among DEXs, including its own. Since the launch of its V3 platform on the public testnet in October 2023, SynFutures has seen a remarkable influx of users, with a total of 81,016 actively participating in trading activities. This heightened engagement is underscored by the V3 platform’s impressive performance on both the Goerli and Blast-Sepolia chains, recording a total of 460,662 transactions. Notably, users have demonstrated an average of 5.686 transactions per user, highlighting robust activity levels within the ecosystem.

In addition, the V3 platform has demonstrated remarkable traction on the Blast chain network, accounting for an impressive 10% of all transactions during a notable spike observed at the end of January.

Deciphering the Mechanism of SynFutures’ Oyster AMM

SynFutures specifically facilitates trading perpetual futures in the crypto space—contracts without expiry. This allows investors to speculate on crypto asset prices without the need for physical settlement.

The innovative Oyster AMM enables permissionless listing of any trading pairs, including major cryptocurrencies, altcoins, NFTs and indices, in 30 seconds. It ensures two-sided liquidity and remarkably enables users to provide a single token for a trading pair. This simplifies the entire trading ecosystem, building on the user-friendly approach established in SynFutures V1 and V2.

Automated Market Makers (AMMs), which DEXs tend to opt for, come with a demand for substantial liquidity to achieve equivalent price impact compared to order book models. To boost liquidity, the Oyster AMM presents an innovative market making paradigm by seamlessly integrating concentrated liquidity AMM (CL AMM) and on chain order book in a single, unified model, offering a significant capital efficiency boost tailored to active traders and passive liquidity providers. The model facilitates liquidity concentration within specific price ranges and incorporates leverage for automated market makers, addressing challenges like higher fees and limited trading functions.

Compared to a CEX’ order book, the fully on-chain model brought by SynFutures’ V3 model helps ensure transparency, trustlessness, and anti-censorship, thus eliminating dependence on centralized administrators and mitigating vulnerabilities across on-off chain systems.

Recognizing the paramount importance of user protection and price stability, the Oyster AMM in SynFutures V3 further introduces an advanced financial risk management approach through a dynamic penalty fee system. This discourages price manipulation and strikes a balance in the risk-reward profile for liquidity providers.

About SynFutures

SynFutures is a leading perp DEX that creates an open and trustless derivatives market by enabling trading on anything with a price feed anytime. SynFutures democratizes the derivatives market by employing an Amazon-like business model, giving users the tools to freely trade any assets and list arbitrary futures contracts within seconds.

Deployed on multiple blockchains, SynFutures is currently the largest derivatives exchange on Polygon and is among the top three most actively used decentralized derivatives exchanges. Backers include Tier 1 Web3 institutional investors Pantera Capital, Polychain Capital, Susquehanna International Group (SIG), Dragonfly Capital, Standard Crypto, and Framework Ventures, and team members have extensive experience at global financial institutions, fintech companies and blockchain technology companies such as Alipay, Bitmain, Credit Suisse, Deutsche Bank, Matrixport, and Nomura Securities.

Metis Is Integrating Chainlink CCIP as Its Canonical Token Bridge Infrastructure and Official Cross-Chain Solution 7507

Metis, a permissionless Ethereum layer-2 network powering the next generation of decentralized applications, and Chainlink, the industry-standard decentralized computing platform, announced today that Metis is officially integrating Chainlink CCIP—the industry standard for secure cross-chain interoperability—as its canonical token bridge infrastructure, enabling the Metis ecosystem to expand its cross-chain footprint, enhance user and developer experience, and accelerate adoption.

As a part of this integration, the Metis bridge interface will be upgraded to leverage Chainlink CCIP as the official cross-chain infrastructure to power the canonical Metis token bridge, with an initial focus on bridging leading stablecoins from Ethereum mainnet onto the Metis network. Over time, additional blockchain networks and tokens are expected to be supported to further accelerate the growth of the Metis ecosystem. Additional information on the migration will be provided in the near future.

Metis selected CCIP to power its official canonical token bridge following extensive research into all cross-chain interoperability options available on the market. Chainlink has the most proven track record of maintaining the highest standard of security and reliability in the Web3 industry, having enabled over $9.7 trillion in value, with CCIP being the only cross-chain solution that achieves level-5 cross-chain security.

Furthermore, CCIP is backed by the Risk Management Network—a separate, independent network that continually monitors and verifies cross-chain operations for erroneous activity. This defense-in-depth approach to security is particularly important given that over $2.8 billion has historically been exploited due to unsecure and unreliable cross-chain infrastructure.

“We’re excited that Metis has chosen Chainlink CCIP as its canonical token bridge infrastructure,” stated Johann Eid, Chief Business Officer at Chainlink Labs. “By securely interoperating cross-chain via CCIP, Metis is able to provide a more seamless developer and user experience in its ecosystem while helping to accelerate the adoption of its layer-2 network.”

By integrating CCIP to power its canonical token bridge, the Metis ecosystem also gains access to a number of additional benefits for its developers and users, including faster token transfers from Metis to Ethereum (from seven days down to minutes), a standardized interface for interacting across chains, and access to Programmable Token Transfers—a CCIP-native feature where tokens can be transferred along with instructions for their use on destination chain (e.g., depositing stablecoins into a lending market upon arrival).

Additionally, integrating CCIP exposes the Metis ecosystem to both Chainlink’s expansive and engaged Web3 developer ecosystem, as well as the surging capital markets interest and adoption surrounding the Chainlink platform.

“Security and user experience are our top priorities when it comes to the infrastructure securing the canonical Metis token bridge, and Chainlink CCIP’s defense-in-depth security architecture and advanced capabilities are unparalleled,” said Tom Ngo, Executive Lead at Metis. “We’re thrilled to be integrating Chainlink CCIP to enable Metis to securely interoperate cross-chain and help drive the network’s long-term growth and adoption.”

Ultimately, integrating Chainlink CCIP for secure and scalable cross-chain interoperability will help Metis drive long-term network adoption and become a more attractive environment for building secure and scalable Web3 apps.

About Chainlink

Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $9 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.

About Metis

Metis is redefining blockchain’s potential with its innovative Ethereum Layer 2 network. Focusing on accessibility, scalability, and security, our platform empowers the transition of applications, businesses, and communities to a new digital, decentralized, and open economy. Metis makes blockchain simple for everyone, ensuring fast, secure, and affordable transactions. Join Metis in pioneering a future where blockchain technology is within everyone’s reach, paving the way for a more inclusive digital world.

Learn more about Metis by visiting metis.io and start building on Metis metis.io/dev/

BounceBit Raises $6M in Seed Funding Round To Build Bitcoin Restaking Infrastructure 7379

We are thrilled to announce that BounceBit has successfully closed a $6-million funding round to build BTC Restaking infrastructure. This milestone round was led by prominent venture capital firms Blockchain Capital and Breyer Capital.

“We’re thrilled to lead the seed round for BounceBit as they’re pushing the frontiers of BTC Restaking and yield generation,” said Ted Breyer, Partner at Breyer Capital.

“There is a huge opportunity to bring DeFi and other innovations to the Bitcoin community through BTC restaking — we’re excited to back BounceBit as they lead the charge,” said Aleks Larsen, General Partner at Blockchain Capital.

The round includes participation from dao5, CMS Holdings, Bankless Ventures, NGC Ventures, Matrixport Ventures, Primitive Ventures, Arcane Group, IDG Capital, Bixin Ventures, Nomad Capital, Geekcartel, DeFiance Capital, General Mining Research, OKX Ventures, Mirana Ventures, HTX Ventures, Mexc Ventures, Bodhi Ventures. Additionally, notable angel investors include Nathan from Anchorage Digital, Calvin and Jessy from Eigenlayer, Kevin and Ashwin from Brevan Howard, Smokey from Berachain, George Lambeth, Pranay Mohan, James Parillo, RookieXBT, MacnBTC, Pentoshi and others.

“Their expertise and support will be instrumental in our mission to build restaking infrastructure to support yield generation for all types of Bitcoin across a variety of networks.” said Jack Lu, Founder & CEO of BounceBit. BounceBit has accumulated $445M TVL in just three weeks after Early Access launch. Early TVL contributors can earn BounceBit points at bouncebit.io.

At its core, BounceBit’s innovation stems from its BTC Restaking mechanism. This relatively new concept acts as the foundation of the project. BounceBit will build a plethora of infrastructure, exploring the use-cases of Restaking for various types of Bitcoin. These infrastructure components are called Shared-Security Clients (SSC).

BounceBit’s first showcase of such an SSC will be its BTC Restaking Chain. The BounceBit chain is secured by validators staking both BTC and BounceBit’s native token – A dual-token system leveraging native Bitcoin’s security, liquidity and low volatility. Unlike existing Layer 2 solutions, BounceBit interacts with Bitcoin only on the asset level instead of the protocol level, taking a Layer 1 Proof of Stake approach. BTC Restaking provides shared security to infrastructure and DApps on BounceBit, e.g. bridges and oracles will be validated by restaked BTC.

Another highlight of BounceBit is its transparent CeFi foundation that secures users’ assets via the regulated custody of Mainnet Digital and Ceffu, while leveraging on-chain asset traceability. Through an innovative CeFi + DeFi infrastructure, BounceBit empowers BTC holders to earn yield through delta-neutral strategies, whilst being additionally protected by an insurance fund.

Looking ahead, BounceBit’s roadmap is structured towards the Mainnet Launch in April, coinciding with the Bitcoin halving. Testnet is expected to go live in early March.

About BounceBit

BounceBit is building a BTC restaking infrastructure that provides a foundational layer for different restaking products, secured by the regulated custody of Mainnet Digital and Ceffu. The BounceBit chain, designed as a showcase of a restaking product within the BounceBit ecosystem, is a PoS Layer 1 secured by validators staking both BTC and BounceBit’s native token – A dual-token system leveraging native Bitcoin’s security with full EVM compatibility. Critical ecosystem infrastructure like bridges and oracles are secured by restaked BTC. Through an innovative CeFi + DeFi framework, BounceBit empowers BTC holders to earn yield across multiple networks.