The U.S. Securities and Exchange Commission (SEC)’s Wells notice to the trading platform Robinhood (HOOD) should not be an obstacle to the final approval of the Ethereum spot ETF.
The report states that the lack of approval for the Ethereum spot ETF this month is not disappointing, as it was widely expected in the market. However, if the SEC ultimately refuses to approve the Ethereum spot ETF, it may face legal challenges and be sued.
Learn more about BounceBit (BB)
BB is building BTC re-collateralization infrastructure, providing a foundational layer for various re-collateralization products, and is secured by regulatory custody from Mainnet Digital and Ceffu.
The BounceBit chain is designed to showcase re-collateralization products in the BounceBit ecosystem, serving as a PoS layer 1 protected by validators collateralizing BTC and BounceBit's native tokens—a dual-token system that leverages the security of native Bitcoin and is fully compatible with EVM. Key ecosystem infrastructure such as bridges and oracles is protected by re-collateralized BTC. Through an innovative CeFi + DeFi framework, BounceBit enables BTC holders to earn across multiple networks.
Some key features of BounceBit's infrastructure and design include:
- BounceBit introduces a unique feature—parallel generation of CeFi and DeFi yields.
BounceBit's infrastructure: CeFi + DeFi. BounceBit introduces a unique feature—parallel generation of CeFi and DeFi yields. Users can earn original CeFi yields while collateralizing BTC with LSD and mining on-chain, a process known as "re-collateralization" in Bitcoin. The ecosystem provides three types of yields for Bitcoin holders: original CeFi yields, node operation rewards for collateralizing BTC on the BounceBit chain, and opportunities to participate in on-chain applications and Bounce Launchpad.
BounceBit provides a transformative infrastructure to coordinate the flow of Bitcoin assets in the CeFi+DeFi hybrid financial system. BounceBit aims to enhance the total value locked (TVL) within its ecosystem, leveraging the robust security of centralized finance (CeFi) and the multifunctionality and yield generation opportunities of decentralized finance (DeFi).
- BounceBit introduces a Proof of Stake (PoS) consensus mechanism, rethinking the traditional single-token staking model.
BounceBit's PoS architecture includes a certain number of node operators who can choose these operators as validators. Validators on BounceBit collateralize BB and/or BBTC to record and verify transactions on the network, receiving transaction fees as staking rewards. This is a hybrid model where each validator can accept BBTC and/or BB tokens. There is no minimum token holding requirement. This dual-token system not only expands the stakeholder base but also weaves an additional layer of resilience and security into the network's consensus structure. By using BTC in the consensus mechanism, we guide the network with Bitcoin's deep liquidity, ease of access, and relatively low volatility. Through this dual-token system, we also mitigate the risks that new Layer 1 may face, such as the early death spiral effect caused by a sudden drop in BB token value, which is suppressed by Bitcoin's economic value.
- BounceBit's design is fully compatible with the Ethereum Virtual Machine (EVM) and the Solidity programming language used for Ethereum smart contracts.
EVM compatibility: BounceBit's full compatibility with EVM ensures that developers familiar with the Ethereum ecosystem can easily migrate their projects. This compatibility eliminates the steep learning curve typically associated with adopting a new blockchain platform, attracting a wider developer community.
Solidity support: BounceBit is compatible with Solidity, allowing developers to write smart contracts in the language they are already familiar with. This further simplifies the transition process and encourages the development of diverse applications on the BounceBit platform.
—I am Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about operations or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together! WeChat Official Account: 我是周悦盈 V Blog: Financial Expert Zhou Yueying
Article publication review has a delay, and the market is constantly changing. The above suggestions are for reference only, and risks are self-assumed! The market changes constantly every day, and all I can do is provide some weak assistance based on my years of practical experience, guiding everyone's investment decisions and management in the right direction. Meeting is fate, and I am a believer in fate. If you have any doubts or questions in the currency circle, you can pay more attention to Zhou Yueying, and I believe it will be helpful to you.
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