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<h2 id="header-0">Origin</h2>“When you stop resisting and start surrendering, you realize that you’re always okay.” - Michael SingerIn The Surrender Experiment, Michael A. Singer offers insights into the nature of accomplishment and purpose. He writes, &#34;When you stop resisting and start surrendering, you realize that you’re always okay.&#34; This perspective suggests that the right actions and opportunities come to us when we align with the flow of life rather than resisting it.To accomplish something, it is first because that thing is the right thing to do. So, if it is not done by person A, it will be done by person B. If it is not done by me, it will be done by someone else. If we have the opportunity to do this thing, it is because we happened to encounter this opportunity at a certain time and in a certain situation, taking the initiative to become the one to accomplish this thing.<ul><li>How does this apply to BounceBit?</li></ul>We believe CeDeFi is like this. CeFi and DeFi are no longer in a competitive state, the fusion of both worlds is bound to emerge in this cycle. If not us, someone else will do it. The first chapter of CeDeFi was cut short by the industry-wide failure of FTX, Luna, Celsius and others.The second chapter of CeDeFi will come, and we believe it will stimulate trading and liquidity in centralized exchanges through APIs, echoing the rewards on-chain. Now, with CZ&#39;s situation settled and Binance growing stronger, along with our deep dive into CeDeFi, we feel the need to push this forward as pioneers that are crazy enough to try and do so.<h2 id="header-1">Attitude</h2>“Surrender often engenders the thought of weakness and cowardice. In my opinion, it required all the strength I had to be brave enough to follow the invisible into the unknown.” - Michael SingerAs Singer states, this mindset is not about giving up; it is about courageously stepping into uncharted territories with trust and conviction.Before BounceBit and Ethena, everyone thought CeDeFi was dead. Everyone thought the crypto world was supposed to move towards decentralization. No one dared to talk about or practice connecting DeFi back to CeFi. This behavior is essentially “surrender” because we no longer yearn for a future led by Uniswap or Aave. Since starting BounceBit, we find the experience of finding the balance to be wonderful. The next step is to combine DeFi&#39;s mining mechanisms with the trading behavior of centralized exchanges to bring about the second chapter of CeDeFi.<h2 id="header-2">Understanding the Essence</h2>The essence of crypto finance is to improve the utilization of funds in a pool and maximize profits. We believe that whether it is CeFi or DeFi, the goal is to optimize money and maximize profits. Given the current situation where funds are sinking into exchanges and on-chain innovation is lacking, the space is longing for a way to stimulate the entire market.The core of CeDeFi lies in the linkage between CeFi and DeFi. The first way of achieving this linkage is through off-exchange settlement (OES) solutions like CEFFU offers. Funds are mirrored on the CEX while staying on-chain. It’s a prime example of how CeFi and DeFi can be connected to everyone&#39;s benefit. You can read more about our partnership with CEFFU here:<a href="https://medium.com/&#64;bouncebit/restoring-the-trust-in-cefi-with-centralized-custody-ceffu-x-bouncebit-675f6448900b" rel="noopener noreferrer nofollow">https://medium.com/&#64;bouncebit/restoring-the-trust-in-cefi-with-centralized-custody-ceffu-x-bouncebit-675f6448900b</a><img src="https://pbs.twimg.com/media/GTZZcCCbkAAz70d?format&#61;jpg&amp;name&#61;medium" />But CeDeFi goes further than this, there are other ways to create a bridge. The solution we propose is APIs - the connecting piece that will reclaim on-chain TVL. We set up the communication channel between two kingdoms, forming a third one: CeDeFi. Superfast is our first product that will utilize APIs and there will be another one, called In And Out.to be the first to hear about the alpha.In And Out introduces the concept of CeDeFi Liquidity Mining (CLM). CLM enables users to mine tokens by trading on centralized exchanges. We will share more details very soon, in the meantime follow<a href="https://x.com/&#64;inandout_cedefi" rel="noopener noreferrer nofollow">&#64;inandout_cedefi</a>Just like CeFi and DeFi each have a multitude of products, CeDeFi opens up a new paradigm with room for a suite of optimized financial instruments. And BounceBit will be the pioneer to innovate the space.

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