OKX Ventures, the Web3 technology firm investment arm of leading cryptocurrency exchange OKX, announced a significant investment in BounceBit, a leading platform focused on the development of Bitcoin (BTC) currency exchange infrastructure and solutions.
OKX Ventures Made a Strategic Investment in Bitcoin Restaking Platform BounceBit
Since launching, BounceBit achieved Total Locked Value (TVL) of $510 million in its first month of operation.
BounceBit operates as a proof-of-stake (PoS) Layer 1 chain using a distinctive dual-token system that combines native BTC security with full Ethereum Virtual Machine (EVM) compatibility.
The platform's BTC Restaking service provides common security for infrastructure and decentralized applications (DApps) on BounceBit, ensuring that key components such as bridges and oracles are validated by restaked BTC.
Dora Yue, founder of OKX Ventures, expressed her excitement about the strategic investment, saying: “BounceBit has revolutionized the use and potential of BTC.
Thanks to its dual token system, BounceBit seamlessly combines centralized finance (CeFi) and decentralized finance (DeFi) features, raising standards of security and cross-chain interoperability.
BounceBit's offerings enable BTC holders to generate profits across multiple networks, while increasing the overall value of the BTC ecosystem.
“We look forward to the upcoming Bitcoin halving event, which is poised to attract a broader user base and expand BTC's usage,” he said.
*This is not investment advice.