Odaily Planet Daily News: Hybrid Layer2 project BOB (Build on Bitcoin) announced the launch of a DeFi incentive event in conjunction with Optimism - BOB Rise, which aims to accelerate the development of BOB's BTC DeFi ecosystem by incentivizing liquidity providers and supporting the growing lending of Bitcoin Liquidity Staking Tokens (LST).
It is reported that BOB's 750,000 OP tokens were donated by the Optimism Grant in the sixth quarter last December, and the original intention of the BOB Rise event was to incentivize users who deposited BTC assets in the four major DeFi protocols on BOB. These 750,000 OP tokens will be used as rewards for them to deposit BTC in BOB.
The BOB Rise event will be held from February 24, 2025 to June 23, 2025, for a period of 4 months, and 750,000 OP tokens will be awarded in five DeFi protocols within the BOB ecosystem. These protocols are mainly carefully selected by the BOB team through a rigorous application process based on their market influence, execution capabilities, and ability to drive sustained growth.
Activity rewards will be accumulated every 8 hours, and users can claim them at any time until one month after the end of the event.
The way to participate in the event is extremely simple. Users only need to deposit BTC into the four DeFi protocols on BOB (you can choose any one or deposit all four protocols at the same time. The higher the weight of participation, the more OP tokens you will share in the end):
Oku (Uniswap): Uniswap’s professional trading interface officially deployed on BOB to realize DeFi advanced transactions.
Euler: It is a decentralized, permissionless loan protocol that helps users earn interest on crypto assets or hedge against volatile markets without the need for a trusted third party. In addition, Euler has been audited by multiple security review agencies and offers a $1 million bug bounty.
Veda-powered HybridBTC.pendle vault: This is a BTC vault where users deposit BTC into BOB, generate income on Pendle (Ethereum), and automatically return the earned BTC income to users on BOB. This BTC vault is operated by Veda, the first native income layer built specifically for the DeFi ecosystem, providing technical support for many mainstream DeFi vault products, including ether.fi Liquid, Lombard DeFi Vault, etc. As of now, the platform has accumulated 3 billion US dollars in TVL.
Gamma: Gamma automates Uniswap liquidity management through automatic rebalancing to help users maximize their income.
Hourglass: Allows users to lock funds for a certain period of time to increase their rewards or mining points, similar to Pendle.
Alexei Zamyatin, co-founder of BOB, said: "BOB's hybrid L2 model has a unique natural advantage that combines the liquidity and security of Bitcoin with the scalability and innovation of Ethereum, making Bitcoin the core pillar of DeFi. The launch of the BOB Rise event is designed to show users the market potential of Hybrid BTC, which we just launched this week. Users only need to deposit BTC into BOB to earn income from other chains, and the whole process is protected by the security of the Bitcoin network. The first Hybrid BTC vault earns income from Pendle on Ethereum, while automatically returning the earned BTC income to users on BOB."