BOB announces DeFi Incentive Program in collaboration with Optimism - BOB Rise

By: blockbeats|2025/02/28 13:00:02

Source: BOB

On February 25, the hybrid Layer2 project BOB (Build on Bitcoin) announced a partnership with Optimism to launch a DeFi incentive event called BOB Rise. The event aims to accelerate the development of BOB's BTC DeFi ecosystem by incentivizing liquidity providers and supporting the lending of Bitcoin liquidity staked tokens (LST).

BOB's 750,000 OP tokens were obtained from the Optimism Grant in the sixth quarter of last year. The primary goal of the BOB Rise event is to reward users who deposit BTC assets into BOB across four major DeFi protocols. The 750,000 OP tokens will serve as a reward for users who deposit BTC into BOB.

BOB Rise Event Details

The BOB Rise event will take place from 2025.2.24 to 2025.6.23, lasting for 4 months. The 750,000 OP token rewards are distributed among five DeFi protocols within the BOB ecosystem. These protocols were carefully selected by the BOB team based on their market influence, execution capability, and ability to drive sustained growth through a rigorous application process.

Rewards will accumulate every 8 hours during the event, and users can claim them at any time until one month after the end of the event.

Participation in the event is straightforward. Users only need to deposit BTC into four DeFi protocols on BOB (they can choose any one or deposit into all four protocols simultaneously). The higher the participation weight, the more OP tokens will be distributed among the participants:

· Oku (Uniswap): Uniswap's professionally deployed trading interface on BOB, enabling advanced DeFi trading.

· Euler: A decentralized permissionless lending protocol that allows users to earn interest on crypto assets or hedge market volatility without needing a trusted third party. Euler has undergone audits by multiple security firms and offers a $1 million bug bounty program.

· Veda-supported HybridBTC.pendle Treasury: This is a BTC treasury where users deposit BTC into BOB, earn yields on Pendle (Ethereum), and automatically receive the BTC returns back to BOB users. This BTC treasury is operated by Veda, the first native yield layer built for the DeFi ecosystem, providing technical support for various mainstream DeFi treasury products such as ether.fi Liquid, Lombard DeFi Vault, etc. The platform has accumulated a TVL of $3 billion to date.

· Gamma: Gamma achieves Uniswap liquidity management automation through auto-rebalancing to help users maximize yield.

· Hourglass: Allows users to lock funds for a certain period to increase their rewards or mining scores, similar to Pendle.

BOB Co-Founder Alexei Zamyatin stated: "BOB's hybrid L2 model has a unique natural advantage that combines Bitcoin's liquidity and security with Ethereum's scalability and innovation, making Bitcoin a core pillar of DeFi. The launch of the BOB Rise event aims to show users the market potential of our newly launched Hybrid BTC this week. Users just need to deposit BTC into BOB to earn rewards from other chains, with the entire process being secured by the Bitcoin network. The first treasury of Hybrid BTC earns rewards from Pendle on Ethereum and automatically returns the earned BTC rewards to users on BOB."

BOB Rise Event Dashboard

Participants in the BOB Rise event can access the BOB Rise Dashboard on bobrise.xyz to track incentives, manage positions, and claim rewards. The dashboard, created and managed by Merkl, provides a real-time view of DeFi incentives throughout the event.

This article is contributed content and does not represent the views of BlockBeats.

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