BOB: The mainnet is officially launched and has connected to over 40 dApps

ChainCatcher news, the Bitcoin Layer 2 network BOB (Build on Bitcoin) announced on social media that the mainnet has launched its first phase, currently locking in $300 million TVL, with over 40 decentralized applications (dApps) integrated.

It is reported that BOB aims to integrate Bitcoin's global adoption, liquidity, and proof-of-work security, along with Ethereum's DeFi features, such as smart contracts, wallets, and stablecoin usage channels. The co-founder of BOB stated that the project is seeking to provide a one-stop service for Bitcoin ordinals, runes, and BRC-20 tokens.

Since Bitcoin Rollup is not yet ready, BOB currently still relies on Ethereum infrastructure to launch, aiming to enhance the user experience of Bitcoin assets and provide convenient DeFi access for both Bitcoin and Ethereum users.

In addition, BOB's next phase of development aims to achieve Bitcoin proof-of-work through "merged mining," while the third phase will introduce BitVM to implement a secure BTC bridging similar to Ethereum bridges. BOB's financing plan is also underway to promote dApp adoption and TVL growth. The team stated that BOB is committed to uniting the two major Web3 ecosystems to drive mass adoption.