# Key Terms

To understand the tokenomics of BounceBit it helps knowing these key terms.

* **BB:** The BB token is the native BounceBit platform asset
* **Proof-of-Stake:** The consensus mechanism that selects, incentivizes and rewards validators who process transactions and create new blocks on BounceBit.
* **Gas fees:** Gas fees are the transaction fees users pay on the BounceBit blockchain to submit transactions (e.g. sending or swapping BBTC) and execute smart contracts. They prevent spam and denial-of-service attacks.
* **Dual-Token Staking:** Dual-Token is a mixed Proof-of-Stake mechanism. It uses two tokens to secure one network. BounceBit uses BB and combines it with BTC, which has lower volatility, deeper liquidity and more accessibility.