Ethena Labs and BounceBit have entered right into a partnership that marks a serious shift in reaching actual returns on over $1 trillion in Bitcoin (BTC) belongings. This partnership fills a big hole in the best way to create return on funding.
The @ethena_labs x @bounce_bit partnership is a key enabler for offering actual yields on >$1 trillion of BTC collateral
There’s vital unmet demand for producing returns on BTC
And there is just one approach to do that on a billion-dollar scale…
Ethena pic.twitter.com/zc9ZKH9lla
— Ethena Labs (@ethena_labs) June 4, 2024
Ethena Labs and BounceBit unveil new BTC yield merchandise for traders
Proper now, there are only a few methods to generate returns on BTC on this billion-dollar scale. However this new partnership presents an answer. Subsequently, customers can now earn returns in sUSDe by staking BounceBit’s BBUSD token whereas nonetheless being uncovered to BTC. This innovation signifies that BTC holders can generate returns with out promoting or changing their Bitcoin.
That is only the start of the brand new yield product. Ethena Labs additionally plans to launch extra scalable yield-based merchandise in BTC sooner or later with BounceBit. These occasions symbolize new methods to get cash from BTC traders for brand spanking new merchandise on the best way to being profitable out of your investments in BTC.
Crypto Market Sees a Increase in BTC Yield Alternatives By way of New Partnership
This partnership is a game-changer for the cryptocurrency market with folks incomes returns on BTC. This enables BTC holders to extend their returns with out having to promote their BTC. Because the partnership between Ethena Labs and BounceBit continues to showcase new product kinds, customers can count on a fair additional enhance in BTC traders’ means to earn returns.
Finally, this partnership can even present the crypto market with new incomes and funding alternatives for BTC holders.