BOB allows users to deposit Bitcoin into DeFi applications or swap it into other assets across more than 11 blockchains with a single click. This ensures fast, secure, and low-cost Bitcoin transactions for both individual investors and institutions.

Team and Founders

Key visionaries and authors of BOB’s Vision Paper include:

• Alexei Zamyatin

• Dominik Harz

Investors and Partners

BOB maintains strong financial and technological partnerships. Corporate partners include Fireblocks, Cobo, and ForDeFi, while top DeFi protocols such as Solv, Xverse, Pell, and Sovryn have integrated BOB into their ecosystems.

Project Concept

Although Bitcoin is the world’s most valuable digital asset, its penetration in DeFi is extremely low (~0.3%), whereas Ethereum has ~30% of DeFi TVL. BOB’s mission is to unlock Bitcoin’s DeFi potential, providing sustainable returns and liquidity for both users and projects.

Core Idea: BOB brings Ethereum’s EVM (Ethereum Virtual Machine) compatibility and smart contract capabilities to the Bitcoin ecosystem, centralizing Bitcoin liquidity in a single DeFi ecosystem rather than scattering it across multiple chains.

How the Project Works

BOB combines Bitcoin security with Ethereum flexibility through a hybrid chain. BitVM bridges allow users to deposit, stake, or swap BTC in a single transaction. The hybrid chain model ensures that all transactions are verified by both Bitcoin and Ethereum networks.

• Hybrid Chain Model: Combines Bitcoin security (BitVM2) with Ethereum flexibility.

• BTC Staking: Users can stake BTC with one click to earn DeFi yields.

• Multichain Gateway: BTC can be swapped or deposited into DeFi on 11+ chains.

• Trustless Bridges: BTC deposits and withdrawals are secure without relying on bridge operators.

• Hybrid Vault: Tokenized BTC yields optimized with institutional security and strategies.

• Ethereum & L1/L2 Integration: Trustless bridges secured by Bitcoin allow DeFi usage across multiple chains.

Governance

The BOB ecosystem has a decentralized governance model. Users, token holders, and BitVM partners can contribute to protocol development, ensuring both security and transparency.

Roadmap

End of 2025:

• $BOB token and DAO launch (completed)

• Hybrid yield vaults (BTC-native earning products)

• BOB Gateway multichain swaps (expansion to 11+ chains)

2026:

• BitVM2 integration (rollup and bridge optimizations)

• Enterprise BTCFi tools (via bitvm/acc alliance)

• Additional chain integrations and native lending expansion

Note: The mainnet launched 18 months ago, aiming for Bitcoin Summer initiatives.

BOB Token

• Total Supply: 10,000,000,000 BOB

• Max Supply: 10,000,000,000 BOB

• Circulating Supply: 2,220,000,000 BOB

Token Allocation:

• Ecosystem & Community: 44.76% (14.6% unlocked at TGE, remainder over 48 months)

• Initial Claims & Staking Bonuses: 4.15%

• Community Sale: 2%

• Foundation: 10% (2.5% TGE, 7.5% linear unlock over 4 years)

• Core Contributors: 19%

• Early Backers: 20.09%

Token Locking & Unlocking:
77.8% of total supply is locked at launch. Locked tokens cannot be staked; only active users and community participants receive staking rewards. Full supply unlocks 48 months after the token launch.

Token Utility

• Staking & Economic Security: BOB tokens can be staked on Hybrid Nodes to provide Bitcoin finality and operate BitVM, earning higher fee shares.

• Decentralized Governance: Both staked and unstaked tokens can participate in BOB DAO governance. Users can vote directly or delegate their vote to governance delegates.

• Protocol Benefits: Token holders get priority access to new features like BOB Earn and BOB Gateway DeFi strategies.

Revenue Models & Buyback Programs

• Sequencer Fees & MEV: Fees from DEX rebalancing and liquidations scale with network activity.

• BOB Gateway Swap Fees: Native BTC swaps generate revenue, increasing as swap volume grows.

• Hybrid Vaults: BTC yield vaults combine on-chain and off-chain strategies to produce performance fees.

• Native BTC Lending & Liquidations: BTC-collateralized borrowing of stablecoins generates revenue from lending demand and liquidations.

• DAO Buyback Program: As protocol revenue grows, BOB DAO may implement structured buybacks to reward participants securing and staking the system.

Ecosystem and Partners

BOB integrates tier 1 DeFi protocols including Uniswap, Euler, Aave, LiFi, Lombard, Chainlink, Babylon, and Solv. Corporate partners include Fireblocks, Cobo, and ForDeFi, supporting rapid ecosystem growth.

Features

• Hybrid Chain Model: Secures transactions with ZK proofs and Bitcoin staking.

• Multichain Gateway: Single-click BTC DeFi access and cross-chain swaps.

• Hybrid Vault: Institutional-grade tokenized BTC yields.

• BitVM Security: First solution providing full finality on Bitcoin.

• User-Friendly Experience: 1-click staking, swaps, and DeFi operations.

BOB: Gateway to Bitcoin DeFi

BOB is the easiest and safest platform connecting Bitcoin with DeFi. Its hybrid chain model fuses Bitcoin’s unmatched security with Ethereum’s flexibility, creating an ideal hub for Bitcoin liquidity, applications, and institutions.

Safe and Easy to Use:

• Secure: Hybrid ZK proofs and billions in staked Bitcoin protect apps, assets, and transactions.

• Native BTC Access: Use BTC directly on BOB with BitVM, no wrappers or custodians needed.

• Simple: Stake BTC, access DeFi, and use vaults via BOB Earn with one click.

• Cross-Chain: Deposit or withdraw BTC across 11+ chains in one click.

• Tier 1 DeFi Ecosystem: Integrates Uniswap, Solv, Chainlink, LayerZero, Anchorage, and Fireblocks.

Official Links

• Website
• Twitter
• Discord

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The post What is BOB (Build on Bitcoin)? appeared first on Coin Engineer.

The Dencun upgrade, launched on March 13, 2024, is considered one of the most significant improvements to Ethereum’s network. The upgrade combined the Cancun upgrade on the execution layer and the Deneb upgrade on the consensus layer, implementing a total of nine Ethereum Improvement Proposals (EIPs). The primary goal was to enhance Ethereum’s scalability and reduce transaction costs for layer-2 networks.

According to YCharts data, the average gas fee on Ethereum has fallen from 72 gwei in 2024 to just 2.7 gwei as of March 12, 2025. NFT sales, which had averaged $145 in gas fees last year, now only cost around $0.65.

Significant Decline in ETH Price

Despite the major drop in gas fees, the price of Ethereum (ETH) has declined 53% over the past year. During the Dencun upgrade in March 2024, ETH was trading above $4,070. As of March 13, 2025, ETH is priced at $1,891, according to CoinGecko.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Dominik Harz, co-founder of Build on Bitcoin (BOB), commented to Cointelegraph that Ethereum has “underperformed” recently. Harz noted, “Since Trump’s election, Monday’s price drop erased all DeFi TVL gains. Between Solana’s memecoin frenzy and Ethereum’s fractured few months, it’s clear the industry is searching for a new, more sustainable and secure frontier for DeFi.”

Pectra Upgrade Faces Issues During Testing

Ethereum’s next major upgrade, Pectra, was rolled out on its final testnet, Sepolia, on March 5. However, soon after deployment, the team encountered issues with error messages and empty blocks being mined. Ethereum developer Marius van der Wijden confirmed that a fix had been deployed, but an unknown user later triggered the same issue, causing further disruptions.

Harz stated that while these testnet issues may delay the mainnet launch, they are far from Ethereum’s biggest challenge. The Pectra upgrade is expected to double data space for layer-2s, lower costs, and increase execution capacity. However, Harz warned, “While that’s a step in the right direction, the reality is that Ethereum is quickly losing its position as the go-to chain for builders, and Pectra isn’t the fix-all solution to its deeper issues.”

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The post Huge Drop in Ethereum Average Transaction Fees! appeared first on Coin Engineer.