What is BounceBit USD?

BounceBit USD utilizes BB-tokens, which are rebasing, yield-embedded voucher tokens on the BounceBit Chain. These tokens are minted when a user subscribes to a V3 vault and are burned upon withdrawal. Each BB-token is designed to represent a 1:1 active position in a specific vault or strategy.

The tokens operate on a restricted mint and burn mechanism where only the vault or strategy can perform these actions, while transfers can occur without permission. BB-tokens can be utilized across various decentralized exchanges, money markets, perpetual contracts, and staking opportunities, enhancing their composability within the ecosystem.