Smart Comms: Leader In 2024 Spark Matrix™

By Author: Ben Gross
Total Articles: 445
Comment this article

We're excited to share that BounceBit has successfully completed a $6 million funding round to develop BTC Restaking infrastructure. This significant achievement was led by well-known venture capital firms Blockchain Capital and Breyer Capital.

"We're thrilled to be leading the seed round for BounceBit as they continue to innovate in the realm of BTC Restaking and yield generation," mentioned Ted Breyer, Partner at Breyer Capital.

"There's a great opportunity to introduce DeFi and other advancements to the Bitcoin community through BTC restaking — we're thrilled to support BounceBit as they take the lead," stated Aleks Larsen, General Partner at Blockchain Capital.

The funding round also saw 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. 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 play a key role in our mission to develop restaking infrastructure to facilitate yield generation for all types of Bitcoin across various networks," said Jack Lu, Founder & CEO of BounceBit. BounceBit has already amassed $445 million TVL within just three weeks of its Early Access launch. Early TVL contributors can earn BounceBit points at bouncebit.io.

At its core, BounceBit's innovation revolves around its BTC Restaking mechanism, a relatively new concept that serves as the project's foundation. BounceBit will construct a range of infrastructure to explore the use-cases of Restaking for different types of Bitcoin. These infrastructure elements are known as Shared-Security Clients (SSC).

BounceBit's initial demonstration of an SSC will be its BTC Restaking Chain, secured by validators.

More Information : https://www.techdogs.com/tech-news/pr-newswire/bouncebit-raises-6m-in-seed-funding-round-to-build-bitcoin-restaking-infrastructure