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Ethena Labs and BounceBit Partner to Unlock Real Yield on BTC Collateral

source-logo  blockchainreporter.net 04 June 2024 14:29, UTC

Ethena Labs and BounceBit have entered a partnership that marks a major shift in attaining actual yield for over $1 trillion in Bitcoin (BTC) assets. This collaboration fills a significant gap in how to create yield on investments.

The @ethena_labs x @bounce_bit partnership is a significant unlock for providing real yield on >$1tn of BTC collateral

There is significant unserved demand for generating yield on BTC

And only one way to do it at billion dollar scale…

Ethena pic.twitter.com/zc9ZKH9lla

— Ethena Labs (@ethena_labs) June 4, 2024

Ethena Labs and BounceBit Unveil New BTC Yield Products for Investors

As of now, there are very few ways to generate yield on BTC at this scale of a billion dollars. But this new partnership provides a solution. Therefore, users can now earn a yield in sUSDe by staking BounceBit’s BBUSD token while still being exposed to BTC. This innovation means that BTC holders can generate returns without selling or converting their Bitcoin.

This is just the start of the new yield product. Ethena Labs also plans to release more scalable yield-based products in BTC with BounceBit in the future. These events represent new ways to get money out of BTC investors for new products on the way to make money from your Investments in BTC.

Crypto Market Sees Boost in BTC Yield Opportunities with New Collaboration

This partnership is a game-changer for the cryptocurrency market that people earning yield on BTC. This allows BTC holders to boost their return without having to sell their BTC. As the Ethena Labs and BounceBit partnership continues to show new product forms, users can expect an even further increase in the ability for BTC investors to earn yield.

Ultimately, this partnership will also empower the crypto-market with new earning and investment opportunities for BTC holders as well.