BOB Mainnet Fuses Bitcoin & Ethereum, Unlocks $285M in DeFi TVL
May 2, 2024The Build on Bitcoin (BOB) project has successfully launched its Mainnet, integrating Bitcoin's and Ethereum's functionalities.
BOB's launch has introduced $285 million in Total Value Locked (TVL), showcasing significant adoption and liquidity across both Bitcoin and Ethereum ecosystems.
Top venture capital firms, including UTXO and ViaBTC, are supporting BOB's innovative approach to combine Bitcoin's robust security with the adaptability of Ethereum.
BOB employs a Layer-2 solution to enable developers to create dapps that are secure, scalable, and innovative.
The platform has garnered substantial early support, with its TVL swiftly surpassing $285 million.
BOB's strategic post-halving launch positions it as a leading DeFi platform for Rune and Ordinals transactions, offering rapid 2-second block times and cost-effective transactions.
BOB provides a bridge for assets between Bitcoin and Ethereum networks, and includes tools for developers to build on the Ethereum Virtual Machine (EVM).
With backing from high-profile venture capitalists, BOB is poised to become a premier, secure, and user-friendly Layer-2 platform for the crypto community.
Summary based on 3 sources
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Sources
Yahoo Finance • May 1, 2024
BOB (Build on Bitcoin) Brings DeFi to Bitcoin and Runes to Ethereum with Mainnet Launch of Hybrid Layer-2Decrypt • May 2, 2024
Build on Bitcoin Launches Mainnet With Over 40 AppsThe Crypto Times • May 2, 2024
Build on Bitcoin (BOB) Launches Mainnet for Bitcoin DeFi