BOB Gateway allows users to swap BTC into wBTC and tBTC on BOB via a single, unified interface.
LONDON, June 18, 2024 /PRNewswire-PRWeb/ -- BOB, a first-of-its-kind hybrid Layer-2 powered by Bitcoin and Ethereum, launches BOB Gateway, a product that allows users to swap BTC into wrapped BTC and L2 BTC via a single, unified interface, solving the user experience issue plaguing most bridges by hiding the complexities and allowing users to earn yield on their BTC faster than ever before. The product paves the way to enabling 1-click yield strategies with the end goal of empowering users to be able to deploy complex BTC yield strategies with a single Bitcoin transaction.
Alexei Zamyatin, co-founder of BOB shared, "Our mission is to bring utility to bitcoin, which has been sitting in wallets as an idle asset. The launch of BOB Gateway marks another major milestone in smoothing the user experience for BTC holders in putting their bitcoin to work earning yield. By unifying Bitcoin bridging in a single interface and leveraging trustless cross-chain swaps, we are setting a new standard for efficiency and user experience in the BTC DeFi space. This is only the beginning; we are working to expand BOB Gateway's capabilities to include stablecoin swaps, yield products, fast unstacking for upcoming BTC staking protocols, and making BOB the central hub for Bitcoin DeFi."
BOB Gateway is built on a trustless, RFQ-based cross-chain swap protocol that connects professional LPs with users through a seamless swapping experience. Essentially, LPs handle the complexities of bridging on behalf of users in exchange for a fee.
With BOB Gateway now live and capable of handling several million USD in daily volume, BOB invites professional LPs to join and help decentralize the RFQ order book, enhancing the platform's robustness and liquidity. For more information on becoming an LP visit https://gobob.xyz/gateway
For media inquiries, please contact Robert O'Neil at (310) 260-7901 or Robert(at)Melrosepr(dot)com
About BOB
BOB ("Build on Bitcoin") is a first-of-its-kind hybrid Layer-2 powered by Bitcoin and Ethereum. By combining the security, liquidity, userbase, and innovation of the two largest blockchain ecosystems, BOB closes the gap between Bitcoin as a vehicle for mass adoption and Ethereum as a hub for innovation. This is achieved through BOB's rollup ecosystem that will use Bitcoin for security while enabling users to access all the on and off-ramps, dapps, stablecoins, NFTs, DeFi, etc. made possible by Ethereum's EVM. BOB is backed by Castle Island Ventures, Coinbase Ventures, Mechanism Capital, Bankless Ventures, and other high-profile VCs and is positioned to become the most secure and accessible Layer-2 for builders and users.
Media Contact
Robert O'Neil, BOB ("Build on Bitcoin"), (310) 260-7901, [email protected], https://www.gobob.xyz/
SOURCE BOB ("Build on Bitcoin")
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