Let's talk about Bouncebit, a new project on Binance today
At this stage, BTC layer2 has been divided into two ways of playing. One is the technical flow, which is to ensure the security of assets through various technologies, such as Babylon's decentralized staking system, and Bontenix uses a group of rotating nodes to form a spider-like node network to ensure the security of Layer2. The characteristics of this type consider decentralization and technical optimization from the perspective of the public chain. Infra projects similar to ETH and other chains turn the project's own tokens into assets; the other is the asset flow, which is essentially to add yield to the existing BTC. Bouncebit is the most stable one, using centralized exchange arbitrage to obtain the currency-based yield as the bottom layer, and then issuing corresponding bills for use on Layer2. Compared with the yield through the ecosystem, the yield of this model will be more stable, and the corresponding growth rate in TVL will be slower, but the advantage is that the debt owed to TVL and the rise and fall of the ecosystem is less.
Bouncebit is not a purely technical project. On the one hand, most of the Dapps on the chain are deployed under a licensing system, and they do not emphasize technological innovation, but rather provide users with stable arbitrage income + stable ecological income. Another feature of this passive mode similar to CEFI is that the participation threshold is low. Users only need to deposit money to obtain stable and long-term income, which is naturally similar to Binance's Megadrop. Megadrop is an alternative way to play. Users obtain the quota of IDO projects by regularly depositing BNB and completing tasks, which does not conflict with the quota acquisition of Luanchpad. For users, projects under this model require a long time for BNB to be pledged, and the corresponding percentage of tokens that can be provided to pledgers is high. The corresponding MC/FDV will not be as high as the traditional concept of Infra projects, and the look and feel will be better. For Binance, some users who do tasks can increase the use of Web3 wallets and can give BNB Holders a relatively stable rate of return.
The total amount of Bouncebit is 2.1 billion, with 19.5% at the opening, 8% at Megadrop, and the rest including 4% airdrops, 3% MM and part of the ecological reserve (about 4.5%). If we estimate based on the two rounds of financing totaling 21%, with the first round raising 6M, the average financing valuation should not exceed 80M (based on 10% (60M) in the first round of financing and 11% (100M) in the second round of financing).
