Superfast is a groundbreaking innovation by BounceBit, aiming to streamline asset trading with unparalleled speed and liquidity. This on-chain 'broker' is tailored for swift and fluid trading of BounceBit assets, including BB, BBUSD, and BBTC. Expect an extensive launch campaign with generous BB rewards to accompany this game-changing development.
User experience stands as a cornerstone at BounceBit, distinguishing the platform from its competitors. Among the key elements defining user experience, speed plays a pivotal role by influencing usability, comprehensibility, and quality. In the realm of finance, particularly in the crypto space, liquidity often presents a significant bottleneck.
How Superfast Operates
The innovation of Superfast is rooted in the fusion of Liquid Custody Tokens (LCT) with centralized exchanges (CEXs). LCTs are pegged at a 1:1 ratio with their underlying assets. For instance, BBUSD is backed by USDT, and BBTC is linked to BTCB.
While BBUSD and BBTC might not be directly tradable on centralized exchanges at present, their underlying assets are accessible. This setup enables the utilization of the substantial liquidity held by these assets on CEXs. Superfast acts as the bridge that seamlessly connects the blockchain with CEXs.
When a swap is initiated on-chain, the transaction is swiftly mirrored on a CEX. The trade takes place on the CEX with robust liquidity, while the on-chain settlement ensures the receipt of the traded asset on the BounceBit network.
Combining Speed and Security
Superfast delivers a hybrid experience to users, merging the rapidity and liquidity reminiscent of prominent exchanges like Binance with the transparency and security inherent in blockchain technology.
Expect reduced gas fees, transaction costs, slippage, spread, and accelerated settlement times. Although the current focus is on BB, BTC, and USDT, the future roadmap includes expanding the range of offerings. The addition of more cryptocurrencies and trading pairs will transform Superfast into a comprehensive platform for efficient trading within and beyond the BounceBit ecosystem.
Through Superfast, the requirement for liquidity for Liquid Custody Tokens will be fulfilled. This marks the inception of a new era for LCTs, ushering in enhanced opportunities for collaboration and adoption.
Future Plans
Anticipated Launch: Q3 2024
Upon the launch, a sizeable BB rewards campaign will kick off, incentivizing the utilization of Superfast, driving user engagement and adoption of this revolutionary asset trading solution.
