TL;DR
- Mainnet and Airdrop: BounceBit has launched its mainnet and is conducting a BB token airdrop to incentivize community engagement. The BB tokens will be listed on KuCoin and Gate.io for trading.
- Phishing Scam Alert: A phishing scam alert has been issued due to a fake site (bouncbit.io) appearing as the top search result for BounceBit. Users are advised to use only official links provided by BounceBit on Twitter for airdrop participation and customer support.
- Unique Approach and Milestone: BounceBit’s mainnet features a Shared-Security Clients (SSC) infrastructure and a dual-token system requiring validators to stake BTC and BB tokens. The protocol has reached a TVL of $448.65 million.
BounceBit, the Bitcoin (BTC) restaking protocol, has officially launched its mainnet, marking a significant milestone in its journey. Alongside the mainnet launch, BounceBit is conducting a BB token airdrop, further enhancing its presence in the crypto space. However, amidst the excitement, a cybersecurity alert has raised concerns.
BounceBit Mainnet Launch and Airdrop
- Mainnet Launch: BounceBit’s mainnet went live at 02:30 UTC today. This launch represents a crucial step for the protocol, as it introduces innovative features and capabilities.
- BB Token Airdrop: From 08:30 to 10:00 UTC, BounceBit is distributing BB tokens through an airdrop. This distribution aims to engage the community and incentivize participation.
- Exchange Listings: BounceBit’s BB tokens are set to be listed on two prominent cryptocurrency exchanges: KuCoin and Gate.io. Trading operations for BB tokens will commence at 10:00 UTC on both platforms.
The Phishing Scam Alert
Despite recent positive developments, vigilance remains crucial. SlowMist’s Chief of Information and Security Officer, known as 23pds, has issued a warning. The top Google search result for “BounceBit” directs users to a phishing site named bouncbit.io.
Users should exercise caution to prevent falling victim to potential scams. Clicking on this link redirects to the phishing website, posing safety risks. In response, BounceBit has taken proactive measures:
- Official Links: BounceBit has shared official airdrop and customer support links via its X (Twitter) account. Users should rely on these verified channels to access legitimate information.
- Scam Awareness: The protocol has cautioned users that any tweets below its official announcement thread containing its name and links are likely scams. Staying informed and verifying sources is crucial.
⚠️This is the final tweet from BounceBit in this thread. Any tweets below using our name and posting links are likely scam/spam.
— BounceBit (@bounce_bit) May 13, 2024
BounceBit’s Unique Approach
BounceBit’s mainnet launch follows its successful $6 million seed funding round earlier this year. Blockchain Capital and Breyer Capital co-led the funding, with participation from venture capital entities and angel investors. This financial backing solidified BounceBit’s position in the market.
The protocol’s unique feature lies in its Shared-Security Clients (SSC) infrastructure. With an initial emphasis on the BTC Restaking Chain, BounceBit has implemented a dual-token system.
This system requires validators to stake both BTC and BB tokens, thereby bolstering the protocol’s security and stability. As of May 13, BounceBit has achieved a significant milestone, with a total value locked (TVL) of $448.65 million, as reported by DeFiLlama.
While BounceBit’s mainnet launch and BB token airdrop generate interest, users must remain vigilant. Scammers may exploit the excitement surrounding this event. By relying on official channels and being aware of phishing risks, the crypto community can safely engage with BounceBit’s offerings.
