BOB, a Bitcoin Layer-2 project that aims to expand the development of the world’s oldest blockchain, is integrated with the Superchain ecosystem built on Optimism’s OP Stack.
OP Stack is a toolkit that allows developers to build their own blockchains on top of Ethereum layer-2 network optimism.
Optimism has previously attracted exchanges Coinbase and Kraken to use it as a location to build their blockchains.
Ethereum layer-2 Optimism’s “Superchain” has added a Bitcoin-native project to its ecosystem for the first time, CoinDesk was first to report.
BOB, a Bitcoin Layer-2 project that aims to expand the development of the world’s oldest blockchain, is integrated with the Superchain ecosystem, built on Optimism’s OP Stack framework.
Under the deal, BOB will receive a grant from the Optimism Foundation of approximately $870,000, project officials confirmed to CoinDesk.
OP Stack is a toolkit that allows developers to build their own blockchains on top of Ethereum Layer-2 Network Optimism.
BOB calls itself a “hybrid layer 2” network – built on Bitcoin but with Ethereum compatibility. The goal is to build bridges between itself and layer-1 blockchains like Ethereum, with the ultimate goal of making Bitcoin the center of decentralized finance (DeFi).
“Joining the Superchain means doubling down on our hybrid vision and ensuring that Bitcoin builders on BOB always have the latest technology to use in their BTC products,” BOB co-founder Alexei Zamyatin told CoinDesk in a Telegram message .
Optimism has prompted crypto exchange Coinbase to use OP Stack for its own blockchain, Base, as well as rival exchange Kraken, which announced its own network, Ink, last week.
CoinDesk announced the news on Tuesday that as part of that deal, Kraken received a grant from the Optimism Foundation of 25 million OP tokens, worth approximately $42.5 million based on current prices.
The price of BOB was apparently less high. The grant totaled 500,000 tokens, worth $870,000, based on OP’s current price of $1.74, project officials told CoinDesk.
Optimism lags far behind rival Arbitrum among Ethereum layer-2 total value locked (TVL) projects. Optimism has a TVL of just over $6 billion, compared to Arbitrum’s $13 billion.
But the broader family of projects using Optimism’s technology totals more than 40 rollups, with more than $18 billion in TVL.
Read more: Optimism pushes for ‘interoperability’ between connected blockchains