In this article we will see how to participate for free in the crypto airdrop of the Bitcoin blockchain restaking protocol.

The promising platform is currently in the testnet phase, waiting to complete the final improvements before reaching mainnet in the month of April.

For airdrop hunters, this is a tempting opportunity to farm an airdrop without having to spend money on fees.

Below are all the steps to be taken to qualify as eligible users.

How does the BounceBit protocol work

The next protocol that will distribute an airdrop to its early users is Bouncebit: we are talking about a project that is designing a restaking blockchain for Bitcoin capable of offering a yield to BTC holders through a mechanism that exploits the arbitrage of the funding rate on the crypto futures markets.

BounceBit is part of a layer-1 ecosystem based on the Proof of Stake (POS) consensus, covered by dual staking of BTC and BB (next BounceBit token subject to airdrop).

By doing so, the cryptographic infrastructure can leverage the security, liquidity, and relatively low volatility of Bitcoin, unlocking potential high-yield innovative solutions in the DeFi and CeFi field.

It is worth noting how the execution level of BounceBit allows to achieve the maximum compatibility with the EVM world facilitating the flow of liquidity between decentralized finance markets and the Bitcoin ecosystem.

In detail, the practice of restaking works as follows: users commit their inactive BTC to generate a reward from the arbitrage activity of funding rates on futures.

The locked BTC are then converted into BounceBTC, which offers a more streamlined and functional standard for the activities that will be carried out later.

The digital resource representing the BTC stake can now be delegated to one or more validators in exchange for stBTC, a liquid staking derivative.

This can in turn be restaked in shared security clients (SSC) to earn additional rewards.

Alternatively, users can directly stake BTC in SSC such as sidechains, bridges, and oracles or use them to participate in the so-called CeDeFi through AMM, leverage trading platforms, and yield farming protocols.

Given the ambitious goals and innovative technology brought to the field, BounceBit represents one of the most attention-grabbing next-generation protocols by private investors.

The company recently closed a $6 million financing round led by Blockchain Capital and Breyer Capital.

Other VC include dao5, CMS Holdings, Bankless Ventures, OKX Ventures and angel investors like Nathan from Anchorage Digital, Calvin and Jessy from Eigenlayer, Kevin and Ashwin from Brevan Howard and many others.

Considering the presence of individuals of utmost respect in this list and reflecting on the impact that this infrastructure could have on the concept of capital efficiency, we believe that BounceBit’s airdrop will be a real treasure for farmers.

The existence of such rewards has already been confirmed by the project team, which has organized an incentive campaign to encourage as many users as possible to test the restaking platform.

How to participate for free in the BounceBit crypto airdrop

With the launch of BounceBit’s mainnet scheduled for April, we only have a few days left to be able to farm for free (or almost) the airdrop of this protocol.

The first thing to do is to register on the platform through an invitation code, which you can easily find on the Discord channel of the project or on other social media.

Subsequently connect your wallet EVM, follow BounceBit on X and link your Discord account.

Then you can choose (it is advisable) whether to deposit assets in advance before the mainnet date within the BounceBit blockchain, starting from the Ethereum or BNB Chain networks.

You can deposit tokens such as WBTC, AUCTION, DAII, MUBI, USDT, BTCb, and FDUSD, and earn points that will be converted in the future. Please note that you will only be able to withdraw the same funds starting from May.

Just a 10 dollar deposit is enough to qualify for the airdrop.

Alternatively, if you do not want to spend a penny and farm the crypto airdrop completely for free, you can participate in the “BounceClub” initiative, aimed at bringing as many users as possible into the application, only available in the testnet network.

BounceClub is nothing more than a Web3 domain onchain that allows users to design, launch, and use decentralized applications (dApps) within the BTC ecosystem.

After entering the official website, click on the “sign in” option at the top right and connect your non-custodial wallet.

Automatically you will be asked to add the BounceBit test network: accept the request and sign the registration transaction.

At this point, if you have not made the $10 deposit in the previous section, you can only interact with the various clubs (new projects) by selecting the “clubs” section at the top left and following the various contents published by other users.

Instead if you have made the deposit as suggested, you are eligible to request the claim of the club creator role.

Scroll down on the same BounceBit testnet website and click on the “create a club” option as shown in the image.

Arrived here, you can create your club for free, significantly increasing the chances of receiving the crypto airdrop, by selecting an option between a “project club” and a “social club” (currently the testnet only supports project clubs)

Give a name to your project, create an accurate description, upload an avatar and you’re done!

Wait for the mainnet launch for further interactions that could increase the allocation of the airdrop.

Meanwhile, it could be a good idea to participate in the Galxe incentive campaign and get the highest score possible. Galxe often acts as a booster for larger airdrop allocations.