What is BounceBit ETH?

BounceBit ETH operates on the BounceBit Chain and utilizes BB-tokens, which are rebasing, yield-embedded voucher tokens. These tokens are minted when users subscribe to a V3 vault and burned upon withdrawal, with each BB-token representing a 1:1 position in a specific vault or strategy. There are currently six distinct BB-tokens linked to specific vaults.

The yield mechanism increases token balances pro-rata rather than altering token prices. Minting and burning of BB-tokens are restricted to the associated vaults or strategies, while transfers are allowed without permission. BB-tokens can also be utilized across decentralized exchanges, money markets, perpetual contracts, and staking platforms.