BOB joins the Superchain, taking its place as the first Hybrid Layer-2

BOB's position as a top BTC L2 in the Superchain ecosystem brings advanced developer tools and user incentives for building BitcoinFi and DeFi solutions.

LONDON, Oct. 30, 2024 /PRNewswire/ -- BOB ("Build on Bitcoin"), a first-of-its-kind hybrid Layer-2 powered by Bitcoin (BTC) and Ethereum (ETH), announced today that they have joined the Superchain ecosystem, a growing network of chains built on Optimism's OP Stack.

BOB's hybrid Layer-2 model combines Bitcoin's security with Ethereum's flexibility to overcome Bitcoin's growth barriers such as limited smart contract capabilities and poor interoperability. This model enables a trust-minimized link between BTC and Ethereum Virtual Machine (EVM) DeFi, offering seamless access to DeFi opportunities. BOB's features, such as 1-click Bitcoin staking and improved UX through simple onboarding tools, make it easier for both users and builders to participate in BTC DeFi on the Superchain.

BOB will now serve as the premier destination for BitcoinFi within the Superchain ecosystem, thanks to its direct integrations with Bitcoin staking layers such as Babylon, liquid staking tokens (LSTs) including Solv, Bedrock and Pell, plus leading infrastructure providers such as Cobo and FBTC. In total, BOB's ecosystem already comprises 40 live projects with 60 more in development on testnet, accounting for a TVL of over $100M USD.

"BOB is tapping into the strength of Optimism's OP Stack to help scale Bitcoin-based financial applications to new heights. We're pleased to welcome BOB to the Superchain ecosystem, and look forward to supporting their growth as a Bitcoin L2 that harnesses the power of Ethereum's infrastructure," said Smit Vachhani, Business Development Lead at Optimism Unlimited.

BOB's integration into The Superchain opens up several key benefits for projects and users:

• Retro Funding Eligibility: Projects on BOB can now apply for Retro Funding from the Optimism treasury, providing critical support for innovative initiatives within the ecosystem.
• OP Airdrop Qualification: Users on BOB may become eligible for future OP airdrops, unlocking additional incentives and rewards.
• OP Chain Grants: BOB will have the opportunity to apply for Optimism grants, allowing the BOB Foundation to distribute OP token grants to promising projects on the platform.

"BOB's membership in the Superchain will advance BitcoinFi and DeFi, opening up new growth and integration opportunities across the ecosystem," said Alexei Zamyatin, co-founder of BOB. "We're excited about the potential impact of our hybrid L2 model, combining the best of both Bitcoin and Ethereum, and remain committed to delivering the best place to use and build with Bitcoin, enhancing developer tools and user experiences with initiatives like Retro Funding, OP airdrops, and chain grants."

For more information about BOB and its new capabilities within the Superchain, please visit https://www.gobob.xyz/, or follow BOB on X (formerly Twitter) at @build_on_bob.

About BOB ("Build on Bitcoin")
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, Coinbase Ventures, Mechanism Capital, Bankless Ventures, and other high-profile VCs and is positioned to become the most secure and accessible Layer-2 for builders and users.

SOURCE Build on Bitcoin