BOB announces joint launch of DeFi incentive campaign with Optimism - BOB Rise

Odaily Planet Daily News: The hybrid Layer2 project BOB (Build on Bitcoin) has announced the launch of a DeFi incentive campaign, BOB Rise, in collaboration with Optimism. The aim is to accelerate the development of BOB's BTC DeFi ecosystem by incentivizing liquidity providers and supporting the growing lending of Bitcoin liquidity tokens (LSTs). It is reported that the 750000 OP tokens of BOB were donated by Optimism Grant in the sixth quarter of December last year. The original intention of the BOB Rise activity was to incentivize users who deposit BTC assets into the four major DeFi protocols on BOB. These 750000 OP tokens will serve as rewards for them to deposit BTC into BOB. The BOB Rise event will be held from May 24th, 2023 to May 23rd, 2023, for a period of 4 months, with 750000 OP token rewards scattered across five DeFi protocols within the BOB ecosystem. These agreements were carefully selected by the BOB team through a rigorous application process based on their market influence, execution capability, and ability to drive sustained growth. The activity rewards will accumulate every 8 hours and users can claim them at any time until one month after the end of the activity. The participation method for the event is extremely simple. Users only need to deposit BTC into four DeFi protocols on BOB (they can choose one or deposit all four protocols at the same time, and the higher the weight of participation, the more OP tokens will be divided in the end): Oku (Uniswap): Uniswap is a professional trading interface officially deployed on BOB, which enables advanced DeFi trading. Euler： It is a decentralized permissionless lending agreement that can help users earn interest on cryptocurrency assets or hedge against volatile markets without the need for a trusted third party. In addition, Euler has been reviewed by multiple security review agencies and has offered a vulnerability bounty of $1 million to the public. HybridBTC.endle Vault supported by Veda: This is a BTC vault where users deposit BTC into BOB, generate profits on Pendle (Ethereum), and automatically return the earned BTC profits to users on BOB. This BTC vault is operated by Veda, the first native revenue 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 in TVL. Gamma: Gamma automates Uniswap liquidity management through automatic rebalancing to help users achieve maximum revenue. Hourglass： Allow users to lock in funds for a certain period of time to increase their rewards or mining points, similar to Pendle. According to Alexei Zamyatin, co-founder of BOB, "BOB's hybrid L2 model has a unique natural advantage of combining 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 campaign aims to showcase to users the market potential of the Hybrid BTC we just launched this week. Users only need to deposit BTC into BOB to earn profits from other chains, and the entire process is protected by the security of the Bitcoin network. The first Hybrid BTC vault earns profits from Pendle on Ethereum and automatically returns the earned BTC profits to users on BOB