How does bouncebit's cedefi platform work

BounceBit's CeDeFi platform combines centralized finance (CeFi) and decentralized finance (DeFi) to offer users a unique financial ecosystem. The platform leverages CeFi to enable Bitcoin for DeFi, addressing challenges related to transparency and misuse in traditional finance.

By utilizing technologies like Ceffu's MirrorX and Mainnet Digital's custody services, BounceBit ensures secure access to liquidity on exchanges while allowing users to earn yield through various trading strategies.

The platform works with experienced asset managers who employ Funding Rate Arbitrage as their trading strategy, generating profits for users.

Additionally, BounceBit introduces BounceBTC (BBTC), a wrapped BTC asset that can be staked, restaked, and used for DeFi activities on the BounceBit chain, offering users a positive-sum game with lower fees, enhanced security, accessibility, speed, and reduced costs.

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