BOB Becomes First Bitcoin Layer-2 Project to Join Optimism’s ‘Superchain’

BOB, a Bitcoin Layer-2 venture that goals to broaden the event of the world’s oldest blockchain, is built-in with the Superchain ecosystem constructed on Optimism’s OP Stack.

OP Stack is a toolkit that enables builders to construct their very own blockchains on prime of Ethereum layer-2 community optimism.

Optimism has beforehand attracted exchanges Coinbase and Kraken to make use of it as a location to construct their blockchains.

Ethereum layer-2 Optimism’s “Superchain” has added a Bitcoin-native venture to its ecosystem for the primary time, CoinDesk was first to report.

BOB, a Bitcoin Layer-2 venture that goals to broaden the event of the world’s oldest blockchain, is built-in with the Superchain ecosystem, constructed on Optimism’s OP Stack framework.

Beneath the deal, BOB will obtain a grant from the Optimism Basis of roughly $870,000, venture officers confirmed to CoinDesk.

OP Stack is a toolkit that enables builders to construct their very own blockchains on prime of Ethereum Layer-2 Community Optimism.

BOB calls itself a “hybrid layer 2” community – constructed on Bitcoin however with Ethereum compatibility. The purpose is to construct bridges between itself and layer-1 blockchains like Ethereum, with the final word purpose of creating Bitcoin the middle of decentralized finance (DeFi).

“Becoming a member of the Superchain means doubling down on our hybrid imaginative and prescient and making certain that Bitcoin builders on BOB all the time have the newest expertise to make use of of their BTC merchandise,” BOB co-founder Alexei Zamyatin advised CoinDesk in a Telegram message .

Optimism has prompted crypto trade Coinbase to make use of OP Stack for its personal blockchain, Base, in addition to rival trade Kraken, which introduced its personal community, Ink, final week.

CoinDesk introduced the information on Tuesday that as a part of that deal, Kraken acquired a grant from the Optimism Basis of 25 million OP tokens, price roughly $42.5 million based mostly on present costs.

The worth of BOB was apparently much less excessive. The grant totaled 500,000 tokens, price $870,000, based mostly on OP’s present worth of $1.74, venture officers advised CoinDesk.

Optimism lags far behind rival Arbitrum amongst Ethereum layer-2 whole worth locked (TVL) tasks. Optimism has a TVL of simply over $6 billion, in comparison with Arbitrum’s $13 billion.

However the broader household of tasks utilizing Optimism’s expertise totals greater than 40 rollups, with greater than $18 billion in TVL.

Learn extra: Optimism pushes for ‘interoperability’ between related blockchains