What is BOB (Build on Bitcoin)?

BOB, founded to create a banking infrastructure suitable for Bitcoin, operates on a hybrid chain that combines the security of Bitcoin with the versatility of Ethereum. This architecture enables functionalities such as swapping, saving, earning, and borrowing on Bitcoin rails. BOB incorporates zero-knowledge proofs and Bitcoin finality to secure transactions and create native rollup bridges to both Ethereum and Bitcoin.

The platform aims to facilitate multichain interactions, allowing users to swap Bitcoin for various assets or deposit directly into decentralized finance across multiple chains. BOB has developed a vault layer designed to optimize yields from tokenized Bitcoin, while its governance model includes strategic collaborations in the Bitcoin ecosystem. The supply cap and detailed governance structure are not specified.