Ethena Labs and BounceBit have entered a partnership that marks a significant shift in achieving precise yield for over $1 trillion in Bitcoin (BTC) property. This collaboration fills a major hole in create yield on investments.
The @ethena_labs x @bounce_bit partnership is a major unlock for offering actual yield on >$1tn of BTC collateral
There’s important unserved demand for producing yield on BTC
And just one option to do it at billion greenback scale…
Ethena pic.twitter.com/zc9ZKH9lla
— Ethena Labs (@ethena_labs) June 4, 2024
Ethena Labs and BounceBit Unveil New BTC Yield Merchandise for Buyers
As of now, there are only a few methods to generate yield on BTC at this scale of a billion {dollars}. However this new partnership supplies an answer. Due to this fact, customers can now earn a yield 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 simply the beginning of the brand new yield product. Ethena Labs additionally plans to launch extra scalable yield-based merchandise in BTC with BounceBit sooner or later. These occasions signify new methods to get cash out of BTC traders for brand spanking new merchandise on the best way to earn a living out of your Investments in BTC.
Crypto Market Sees Enhance in BTC Yield Alternatives with New Collaboration
This partnership is a game-changer for the cryptocurrency market that folks incomes yield on BTC. This enables BTC holders to spice up their return with out having to promote their BTC. Because the Ethena Labs and BounceBit partnership continues to point out new product kinds, customers can count on an excellent additional improve within the means for BTC traders to earn yield.
In the end, this partnership can even empower the crypto-market with new incomes and funding alternatives for BTC holders as properly.
