BounceBit, a Singapore-based BTC restaking infrastructure provider, raised $6M in Seed funding.
The round was led by Blockchain Capital and Breyer Capital, with 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, and angel investors.
The company intends to use the funds to expand operations and its development efforts.
Led by Founder and CEO Jack Lu, 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. Ecosystem infrastructure like bridges and oracles are secured by restaked BTC. Through a CeFi + DeFiframework, the company empowers BTC holders to earn yield across multiple networks.
FinSMEs
29/02/2024