Boba Network, a next-generation Ethereum scaling solution, today announced the launch of its Layer-2 optimistic rollup Mainnet. Based on the OMG Foundation’s key contributor, Enia, and a publicly available, open-source optimization codebase, the Boba Network aims to provide a faster, cheaper, and seamless experience for the next billion users of Etherium.
In addition to the public mainnet launch, the OMG Foundation will release its new $ BOBA token to support decentralized governance of the network.
Bob’s Mainnet launch is just the beginning of the community’s efforts to expand the etherium ecosystem by reducing gas fees, improving throughput, and expanding the capacity of decentralized finance and NFT projects through hybrid computers.
Bob’s Extensible Smart contracts enable developers to create decentralized applications across the Ethereum ecosystem that trigger code edited into web-scale infrastructure, making it possible to use algorithms that are either too expensive or impossible to run on-chain. As this technology matures, Bob’s Hybrid will enable computer developers to create dApps that use the world’s most powerful algorithms, from sophisticated cryptography to machine learning classifiers.
In support of Boba Mainnet, the OMG Foundation is releasing a new governance token for the BOBA platform. $ BOBA tokens will be airdropped for existing $ OMG token holders who have delivered their $ OMG tokens to the Boba network via a snapshot date at the end of next month. FTX, one of the largest crypto exchanges, is already committed to supporting AirDrop, to follow additional exchanges.
This new token will be the basis for voting in Boba DAO, the next natural step in Boba’s focus on users, community and decentralization. Those BOBA tokens on the network will also receive a portion of the fees earned by the network through community-managed on-chain distribution.
“From the beginning, our goal has been to create and grow an inclusive, decentralized ecosystem for developers and end users. Boba Mainnet will allow Boba developers to provide the next billion users of Etherium with a faster, cheaper and more enjoyable experience. We are thrilled with the help of the OMG Foundation to create new $ BOBA tokens to empower the community to participate in the governance and growth of the bomb network.
– Alan Chiu, founder and CEO of Aniar
Since its beta launch last month, the Boba Network has partnered with top crypto projects, including Dodo, Coin98, MEW, Frex, AnySwap, Sec, Band, API3 and Witnet.
Bob has a vision for the expansion and democratization of the Ethereum ecosystem and its L2 is the first step in bringing that vision to life. Boba and its large, diverse community will focus on creating a great experience for developers and users using a native fast exit bridge, NFT bridge between L2 and L1, and Ethereum for safety.