On February 25, the hybrid Layer2 project BOB (Build on Bitcoin) announced a joint DeFi incentive program with Optimism called BOB Rise, aiming to accelerate the development of BOB's BTC DeFi ecosystem by incentivizing liquidity providers and supporting the growing lending of Bitcoin liquid staking tokens (LST).

It is reported that the 750,000 OP tokens for BOB were donated from the 6th season of the Optimism Grant last December, and the original intention of the BOB Rise program is to incentivize users who deposit BTC assets into the four main DeFi protocols on BOB, with these 750,000 OP tokens as a reward for them depositing BTC into BOB.

BOB Rise Program Details

The BOB Rise program will run from 2025.2.24 to 2025.6.23, a period of 4 months, with the 750,000 OP tokens distributed among five DeFi protocols in the BOB ecosystem. These protocols were carefully selected by the BOB team through a rigorous application process based on their market influence, execution capabilities, and ability to drive sustained growth.

The program rewards will accumulate every 8 hours, and users can claim them at any time, with the claiming period lasting until one month after the end of the program.

The participation method is very simple, users only need to deposit BTC into one of the four DeFi protocols on BOB (they can choose one, or deposit into all four protocols, the higher the participation weight, the more OP tokens they will eventually share):

· Oku (Uniswap): Uniswap's official professional trading interface deployed on BOB, realizing advanced DeFi trading.

· Euler: A decentralized, permissionless lending protocol that can help users earn interest on crypto assets or hedge volatile markets without the need for a trusted third party. Euler has also been audited by multiple security firms and offers a $1 million bug bounty.

· Veda-backed HybridBTC.pendle vault: This is a BTC vault where users deposit BTC into BOB and generate yields on Pendle (Ethereum), with the earned BTC rewards automatically returned to users on BOB. This BTC vault is operated by Veda, the first native yield layer built for the DeFi ecosystem, providing technical support for many mainstream DeFi vault products, including ether.fi Liquid, Lombard DeFi Vault, etc., with a total value locked (TVL) of $3 billion to date.

· Gamma: Gamma automates Uniswap liquidity management through auto-rebalancing to help users maximize their yields.

· Hourglass: Allows users to lock up funds for a certain period of time to increase their rewards or mining credits, similar to Pendle.

BOB co-founder Alexei Zamyatin said: "BOB's hybrid L2 model has a unique natural advantage in combining Bitcoin's liquidity and security with Ethereum's scalability and innovation, making Bitcoin a core pillar of DeFi. The launch of the BOB Rise program is intended to showcase the market potential of our newly launched Hybrid BTC. Users only need to deposit BTC into BOB to earn yields from other chains, with the entire process backed by the security of the Bitcoin network. The first Hybrid BTC vault earns yields from Pendle on Ethereum, while automatically returning the earned BTC rewards to users on BOB."

BOB Rise Program Dashboard

Participants in the BOB Rise program can visit the BOB Rise Dashboard at bobrise.xyz to track incentives, manage positions, and claim rewards. The dashboard is created and managed by Merkl, providing a real-time view of the DeFi incentives throughout the program.

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