BOB (Build on Bitcoin) Brings DeFi to Bitcoin and Runes to Ethereum with Mainnet Launch of Hybrid Layer-2
BOB launches mainnet with over $285 Million in TVL accessible to both Bitcoin and Ethereum ecosystems
LONDON, May 1, 2024 /PRNewswire-PRWeb/ — BOB (Build on Bitcoin), the hybrid Layer-2 solution merging Bitcoin and Ethereum capabilities, announces the highly anticipated launch of its Mainnet. Hot on the heels of the most recent Bitcoin halving, this milestone marks a monumental leap forward in Bitcoin Layer 2 innovation
With the seamless integration of Bitcoin and Ethereum capabilities, BOB empowers developers to easily build and deploy innovative dapps without compromising on security or scalability, while having access to the largest liquidity and user bases in the industry.
BOB’s Mainnet launch marks a pivotal moment in Bitcoin‘s integration into DeFi, strengthened by support from Bitcoin-focused venture firms like UTXO, ViaBTC, AntAlpha, and CMS Holdings. Leveraging a hybrid Layer-2 approach, BOB combines the security of Bitcoin with Ethereum‘s versatility, advancing Bitcoin‘s relevance in the DeFi space. This cross-chain environment not only enhances security and liquidity but also unifies user bases, empowering individuals to navigate the digital landscape more effectively. BOB is also running its Fusion program, which allows users to lock various tokens to earn Spice (points) that represent a user’s active involvement and contribution to the BOB ecosystem. While projects deploying on BOB such as Sovryn, Velodrome, and Layerbank exemplify the innovation driving the platform forward. To explore the full ecosystem and projects, please visit gobob.xyz/ecosystem.
Alexei Zamyatin, Co-Founder of BOB, expressed his excitement about the Mainnet launch, stating, “We’re thrilled to launch BOB’s Mainnet, a pivotal moment in our journey to revolutionize Bitcoin L2s. With the seamless integration of Bitcoin and Ethereum capabilities, BOB empowers developers to easily build and deploy innovative dapps without compromising on security or scalability, while having access to the largest liquidity and user bases in the industry.”
Since closing its most recent $10 Million seed round led by Castle Island Ventures with participation from Coinbase Ventures, Mechanism Ventures, Bankless Ventures and others, the BOB platform has seen incredible momentum and participation from early adopters with TVL exceeding $285 Million, made up of various assets such as Bitcoin, Ethereum, and stablecoins.
BOB’s post-halving launch will naturally see an emphasis on new functionality, such as Rune and Ordinals transactions, aiming to be the premiere DeFi platform for such assets. Offering 2-second block times, transactions 99% cheaper than Bitcoin, and enhanced user experience for Bitcoin assets, BOB facilitates easy purchasing with major Bitcoin assets on platforms like Sovryn, without requiring a separate Bitcoin wallet.
Zamyatin added, “BOB will become the easiest way for millions of web3 users to get access to Runes, without struggling with the complexities of the Bitcoin L1 or being forced to use centralized exchanges”
Users are encouraged to experience the power of BOB’s Mainnet today at app.gobob.xyz. With just a few clicks, anyone can seamlessly bridge assets from Bitcoin and Ethereum, as well as all major exchanges (routed via Ethereum or other L2s). While developers gain access to a robust toolkit for building decentralized applications within the EVM, as BOB aims to foster collaboration and innovation within the Bitcoin L2 ecosystem.
For media inquiries, please contact Jonathan Duran at (310) 260-7901 or Jonathan(at)Melrosepr(dot)com
About BOB
BOB (Build on Bitcoin) is a first-of-its-kind hybrid Layer-2 powered by Bitcoin and Ethereum. By combining the security, liquidity, userbase, and innovation of the two largest blockchain ecosystems, BOB closes the gap between Bitcoin as a vehicle for mass adoption and Ethereum as a hub for innovation. This is achieved through BOB’s rollup ecosystem that will use Bitcoin for security while enabling users to access all the on and off-ramps, dapps, stablecoins, NFTs, DeFi, etc. made possible by Ethereum‘s EVM. BOB is backed by Castle Island Ventures, Mechanism Ventures, Bankless Ventures, and other high-profile VCs and is positioned to become the most secure and accessible Layer-2 for builders and users.
Media Contact
Jonathan Duran, Melrose PR, 3102607901, jonathan@melrosepr.com, https://www.melrosepr.com/
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SOURCE Build on Bitcoin
