April saw the adoption of Boba Network continue to grow as we rolled out a number of grants, partnerships, hackathons, ecosystem incentives and more. Below are some key highlights of what we accomplished in the month. To stay up to date on all our latest announcements, be sure to follow us on Twitter and join our Discord.
Upgraded Token Utility
At the beginning of the month, an important proposal and update to BOBA token metrics was approved. Upon its successful implementation, users will be able to pay gas fees on Boba Network using BOBA tokens. Ultimately, this will unify usage of BOBA as the fee token for all BOBA services, increase utility, and user choice. We look forward to continuing to work with the community on improving BOBA.
Something the business team has been hard at work on is securing integrations with centralized exchanges to facilitate the direct withdrawal of BOBA tokens to the Boba Network. We are proud to announce that in April, three exchanges, Gate.io, Hotbit, and Coinex, have announced their support for L2 Boba Network withdrawals and deposits.
In April we announced the closing of our Series A round which valued Boba Network at $1.5 billion, and included participation from over 400 leading VCs, founders, and angel investors. In addition, our WAGMIv2 incentives program proved to be wildly successful, with trading volume on OolongSwap surpassing its goal of $25MM in just 13 days. Network adoption was also up from the month prior with more users bridging to Boba Network and taking advantage of our ultra-fast transactions, low gas fees, and growing ecosystem of dApps.
Other notable ecosystem updates include:
- We partnered with MedievalDAO, the latest NFT game taking advantage of Boba Network’s Turing Compute
- Tapioca Town, a generative NFT collection on Boba Network, officially joined the Bobaverse in April. In a recent blog post they explain why they chose to build on Boba.
- Symbiosis Finance, a decentralized multi-chain liquidity enabler that aggregates liquidity across all EVM-compatible blockchains, integrated with Boba.
- And much more
Our community engagement continued to increase last month as we participated in a number of AMAs and interviews with ecosystem partners. On April 5th, Blendor Sifaj sat down with Cere Network to talk about their latest integration with Boba Network. He followed that up with an interview on OFR Talk, Episode 4 where he answered some of the community’s most commonly asked questions. You can check out the full episode here.
We have also been focusing our efforts on expanding our reach into non-English speaking regions, including Latin America. To that end, Gian spoke with the Gate.io Spanish community as part of a Telegram AMA.
As part of our efforts to attract top talent to Boba Network, we have been busy sponsoring several hackathons. At the beginning of the month, we partnered with Bundlr and Arweave to host the Gitcoin Virtual Hackathon where we gave away $15,000 in prizes to three winners:
- Degenbox: An interactive social game of chance
- Swapify: A P2P NFT swapping tool
- Kindred: A wallet inheritance tool designed to enhance asset preservation
This month also saw the Boba team head to Amsterdam for DevConnect where we attended various events, gave talks, connected with developers, and yes, even hosted a hackathon.
Reminder: The Boba Network Global Virtual Hackathon is currently underway on DoraHacks with $100,000 in prizes up for grabs. Winners will be announced next month.