BounceBit, a Bitcoin (BTC) restaking protocol, introduced the official launch of its mainnet at 02:30 UTC at the moment. Shortly after, from 08:30 to 10:00 UTC, the corporate will begin its BB token airdrop.
Moreover, the much-anticipated itemizing of BB tokens on cryptocurrency exchanges KuCoin and Gate.io is ready to broaden its market presence. Each exchanges will start buying and selling operations for BB tokens beginning at 10:00 UTC at the moment.
BounceBit Buying and selling Begins; Watch Out for Phishing
Nevertheless, a cybersecurity alert has tempered the joy. The Chief of Data and Safety Officer at SlowMist, often called 23pds, has flagged a big threat. The primary Google search outcome for “BounceBit” is a phishing web site referred to as bouncbit.io, posing threats to customers’ security.
“Clicking it will jump to the phishing website bouncbit[.]io. Please be aware of the risks,” 23pds warned.
Learn extra: 15 Most Frequent Crypto Scams To Look Out For
Following the warning, BounceBit has shared official airdrop and buyer help hyperlinks on its X (Twitter) account. It additionally warned that any tweets beneath its official announcement thread that use its title and put up hyperlinks are probably scams.
The launch of BounceBit mainnets and BB token airdrop got here after the protocol secured a $6 million seed funding earlier this yr. Blockchain Capital and Breyer Capital co-led this spherical, with participation from varied enterprise capital entities and angel traders. Moreover, in April, Binance Labs, Binance’s enterprise capital and incubation arm, invested an undisclosed quantity in BounceBit.
At its coronary heart, BounceBit introduces a BTC restaking mechanism. It’s launching a Shared-Safety Purchasers (SSC) infrastructure, beginning with the BTC Restaking Chain.
This mechanism entails a dual-token system the place validators stake each BTC and BB. Due to this fact, such a mechanism enhances the platform’s safety and stability.
Learn extra: Prime New Crypto Listings To Watch In Might 2024
As of Might 13, DeFiLlama experiences BounceBit has a complete worth locked (TVL) of $448.65 million. Given its backing, it’s believable that BounceBit’s mainnet launch and BB tokens airdrop catch the crypto neighborhood’s curiosity and entice scammers.
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