bitcoin
bitcoin

$98964.89 USD 

2.51%

ethereum
ethereum

$3417.52 USD 

9.77%

tether
tether

$1.00 USD 

0.05%

solana
solana

$262.26 USD 

10.76%

bnb
bnb

$634.95 USD 

5.35%

xrp
xrp

$1.41 USD 

29.20%

dogecoin
dogecoin

$0.395708 USD 

4.71%

usd-coin
usd-coin

$0.999937 USD 

0.02%

cardano
cardano

$0.893488 USD 

15.40%

tron
tron

$0.201041 USD 

2.69%

avalanche
avalanche

$36.48 USD 

9.87%

shiba-inu
shiba-inu

$0.000025 USD 

6.40%

toncoin
toncoin

$5.57 USD 

5.36%

sui
sui

$3.64 USD 

4.76%

bitcoin-cash
bitcoin-cash

$493.94 USD 

5.49%

Cryptocurrency News Articles

BounceBit Announces CeDeFi V2 Protocol Upgrade, Bridging the Gap Between Centralized and Decentralized Finance

Nov 12, 2024 at 12:00 pm

BounceBit, a company specializing in the integration of centralized and decentralized financial technologies, today announced the launch of its CeDeFi V2 protocol upgrade.

BounceBit Announces CeDeFi V2 Protocol Upgrade, Bridging the Gap Between Centralized and Decentralized Finance

BounceBit, a Web3 company integrating centralized and decentralized financial technologies, announced the launch of its CeDeFi V2 protocol upgrade on Monday.

Backed by investors including Binance, Blockchain Capital, and Breyer Capital, the platform combines the strengths of centralized finance (CeFi) and decentralized finance (DeFi) to enhance security and efficiency.

“Financial markets are evolving, and there’s a growing need to bridge the gap between CeFi and DeFi,” said Jack Lu, founder and CEO of BounceBit. “Our CeDeFi V2 platform is designed to leverage the liquidity of centralized exchanges while incorporating the transparency of decentralized systems.”

CeDeFi V2 aims to address challenges in the DeFi industry, such as lower expectations for token generation events and capital shifting toward off-chain venues like major centralized exchanges.

BounceBit’s CeDeFi V2 platform offers the following features:

Asset Management: Users can access yields across various chains and assets through centralized market structures, reducing technical complexities and potential security risks.

Liquidity Management: BounceBit utilizes centralized exchange liquidity for faster execution and improved capital efficiency compared to traditional decentralized exchanges.

Highlighting security and institutional adoption

Security concerns have posed a significant barrier for institutional investors considering entry into the crypto space. BounceBit’s CeDeFi V2 platform provides streamlined on-chain processes that aim to reduce potential vulnerabilities.

“Enhancing security features and operational efficiency has been a key focus for us,” added Lu. “There’s a clear demand for secure platforms, as evidenced by the growth in custody solutions even during market downturns. CeDeFi V2 is positioned to meet this demand.”

Earlier this year, BounceBit raised $6 million in seed funding, co-led by Blockchain Capital and Breyer Capital, with participation from Binance, CMS Holdings, and others. The platform reportedly amassed over $545 million in total value locked (TVL) during its early access phase.

News source:cryptobriefing.com

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Other articles published on Nov 22, 2024