To celebrate the coveted Coinbase listing and the addition to the Coinbase Earn program, Boba Network will airdrop BOBA tokens to Coinbase users
PALO ALTO, CA / ACCESSWIRE / June 30, 2022 / Boba Network, the blockchain scaling solution and Hybrid Compute platform, today announces the listing of the network's native BOBA token on Coinbase and participation in the Coinbase Earn program. In addition to the listing, Boba Network will airdrop BOBA to Coinbase users who held the OMG token in the Coinbase account at the time of a November 2021 snapshot. BOBA trading pairs will include BOBA/USD and BOBA/USDT.
Coinbase is one of the largest cryptocurrency exchanges in the world and a major player in the coveted US market. The listing will introduce BOBA to 98 million users in over 100 countries. The BOBA token is used for gas fees on the Boba Network, staking in exchange for a share of network fee revenue, voting in the BobaDAO, and executing Hybrid Compute calls within Boba smart contracts.
Boba Network will also participate in the Coinbase Earn program, where Coinbase users can earn crypto while learning how specific cryptocurrencies work by reading or watching videos and taking quizzes to test their knowledge. The addition to Coinbase Earn will reward users with BOBA for learning about the network's key topics, including Hybrid Compute, NFT bridging, and Optimistic rollups.
Chief among Boba's advanced tooling is its Hybrid Compute protocol, a multi-purpose pipe which directly connects decentralized computers to Web2 APIs via smart contracts, enabling novel use cases that are far too expensive, slow, or otherwise practically impossible to execute on-chain. In practice, Hybrid Compute makes it easy for dApp developers to incorporate the power and depth of Web2 computation and data sources into their projects, such as machine learning and artificial intelligence systems, advanced financial modeling tools, or state-of-the-art gaming engines.
Alan Chiu, founder and CEO of Enya.ai, the core contributor to Boba Network, said: "The listing of the $BOBA token on Coinbase is a significant milestone in our plans to bring Hybrid Compute and blockchain scaling to as many users and networks as possible. In doing so, we aim to unlock the inherent power of Layer-1 networks while reducing their inefficiencies and bolstering their computational capabilities."
The Boba Network is an EVM equivalent Layer-2 scaling solution, with lightning-fast transactions and fees up to 60x less than Ethereum. Based upon OVM 2.0, it is highly compatible with existing Ethereum smart contracts, allowing developers to migrate their projects efficiently, usually in just a few hours time.
In April, Boba Network announced a $45 million series A - valuing the project at $1.5 billion. The series saw participation from more than 400 investors, including Crypto.com, Huobi, and BitMart.
ERC20-supported deposits are effective immediately. Trading will begin at 4PM UTC on 30 June 2022, if liquidity conditions are met.
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About Boba Network
Boba Network is a blockchain Layer-2 scaling solution and hybrid compute platform offering lightning-fast transactions and fees up to 60x less than Ethereum.
Boba's Hybrid Compute brings the power of Web2 on-chain for the first time, allowing smart contracts to call any external Web2 API to execute complex algorithms such as machine learning classifiers, pull in real-world or enterprise data in a single atomic transaction, or sync with the latest state of a gaming engine. Leveraging off-chain compute and real-world data, developers and creators can offer an enriched experience unlike anything else on the market today.
Boba Network delivers a faster, cheaper, and smarter experience for blockchain's next billion users.
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