Binance's first Megadrop project @bounce_bit complete analysis and estimated listing price｜If you have 20U, are you taking any action?
Binance's first Megadrop project BounceBit ($BB) will open at 18:00 on May 13th;
The high popularity is frightening, with 682,000 people already participating, and there are three days left. Have your friends participated?
If conditions permit, you can participate with multiple accounts. Without locking BNB, only doing web3 tasks also guarantees a 1000-point low guarantee. Let's discuss how much the low guarantee is.
This article mainly analyzes:
What is BounceBit?
BounceBit's token model
How to estimate the listing price?
Binance-related research reports
Megadrop activity related
1️⃣ What is BounceBit? Where is the explosive potential?
You can simply understand that BounceBit is a BTC re-collateralized public chain, with the core goal of solving issues such as generating interest for Bitcoin assets, inefficient use of idle BTC, lack of innovation, and high gas fees.
I mentioned in my previous tweet:
BTC's ultimate goal is to open up possible directions for human economic development and build a new monetary system that can solve financial crises. According to incomplete statistics, the value of BTC in the market that has not been circulated and has not released its potential exceeds 850 billion US dollars.
BTC holders also have a strong demand for financial management. They urgently need a secure channel to allow their BTC to generate returns.
BounceBit meets this demand, and users can enjoy triple benefits:
CeFi income obtained from the native assets of sub-accounts of centralized exchanges.
DeFi income obtained through interactions on the BounceBit chain.
Re-collateralization income generated by pledging BBTC+BB and then re-pledging LST.
This is the core competitiveness of BounceBit. Its advantages and explosive potential lie in:
Unique mechanism, dual PoS collateral system, collateralizing BTC tokens and BounceBit network native tokens to ensure security.
The architecture is fully compatible with the Ethereum Virtual Machine (EVM) and Solidity language, which means that a large number of ETH projects can seamlessly migrate to the BTC ecosystem.
The CeFi+DeFi mechanism has good potential for TVL growth.
For long-term BTC holders, they can not only obtain triple benefits but also ensure security.
For ecological projects, the potential for TVL growth is the space for explosive growth. Therefore, building blocks on this chain is a good choice.
This is also the reason why BounceBit was able to attract investments from Blockchain Capital, OKX Ventures, HTX Ventures, and Binance Lab, with a total project financing of 7.98 million US dollars, boasting a luxurious lineup.
2️⃣ BB's token model
BB token is the native token of the BounceBit chain, and it can be used for the following functions:
Network Gas: BB is used to pay for the gas fees required to conduct transactions and execute smart contracts.
Network governance: Use BB to participate in on-chain governance, such as voting for protocol upgrades.
Collateral: Pledge BB to participate in BounceBit's dual-token collateral mechanism.
Protocol incentives: Tokens are paid as collateral rewards to validators who ensure network security.
Currency: Used as a currency on the BounceBit platform, for various dapps and infrastructure, as a medium of exchange or value storage.
Token name: BB ($BB)
Initial circulation: 409,500,000 $BB (19.5% of the maximum token supply)
Total supply: 2,100,000,000 $BB
Binance Megadrop allocation: 168,000,000 $BB (8% of the total token supply)
3️⃣ Estimated listing price
Combining recent Binance new coin opening market values, it seems that it is not suitable to estimate too high.
Merlin, also a BTC L2, had an initial circulating market value of 300 million and a FDV of 3 billion. A conservative estimate would put the initial circulating market value of BB at 300 million US dollars and the FDV at 1.5 billion, with an estimated opening price of $0.7.
Adding the first Megadrop project's buff bonus, personally, I believe the reasonable range for the BB token is between 0.7-1.1u.
The Megadrop income calculation referred to @yuandian999: The income for low guarantee accounts may be around 30u.
4️⃣ Binance-related research reports
https://www.binance.com/en/research/projects/bouncebit
Reward distribution time: May 13, 2024, 14:00
Opening time: May 13, 2024, 18:00
5️⃣ Megadrop activity related
Megadrop is a task airdrop platform launched to better promote the Binance Web3 wallet.
In simple terms, in the future, we can obtain new listing tokens by locking BNB and completing related tasks to earn points.
Megadrop seamlessly integrates with the Binance Web3 wallet and Binance Savings.
Nine-word mantra: Complete tasks, lock coins, get rewards, integrate with the Binance ecosystem, empower #BNB, and do not conflict with Lanchpool:
Megadrop ends on May 13th, and there is still a chance to participate in the low guarantee account. It is recommended to take action.
Megadrop analysis: https://twitter.com/BTW0205/status/1780919130994176072
Participation tutorial: https://twitter.com/BTW0205/status/1783429215645475001
Note: The above is my personal opinion, for reference only, DYOR
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