BOB (Build on Bitcoin), a new project aiming to bring DeFi to Bitcoin, just raised another $9.5 million in a fresh funding round! đ°
Their mission?
To become the âGateway to Bitcoin DeFiâ â and itâs gaining serious momentum.
đ What Is BOB?
BOB is building a protocol that combines Bitcoinâs security with Ethereum-style DeFi features â giving users the best of both worlds.
Theyâre working on a BitVM bridge, which will let users bridge BTC into DeFi apps securely, using staked BTC for finality.
đŒ Who Invested?
This round was supported by major players in crypto:
đŠ Castle Island Ventures (also led BOBâs $10M seed round)
𧱠Ledger, RockawayX, IOSG Ventures, Bankless Ventures
đ New backers: Anchorage, Amber Group, and Sats Ventures
BOB has now raised a total of $21 million across all funding rounds in 2024!
đ ïž Whatâs Next?
BOB plans to launch its mainnet and BitVM bridge by end of 2025.
Once live, users will be able to bridge BTC from Bitcoin to DeFi protocols â unlocking powerful new use cases.
đŁïž âA bet on BOB is a bet on Bitcoin DeFi itself,â said co-founder Alexei Zamyatin.
đ Why It Matters
Bitcoin DeFi is heating up â and BOB is leading the charge.
This project could change how BTC is used:
â Secure, scalable, and connected to real DeFi tools
â Unlocks DeFi access for billions in BTC value
â Expands Bitcoinâs role beyond just âdigital goldâ
đŹ Will Bitcoin become the next big thing in DeFi?
Drop your thoughts and donât forget to like, follow, and share if you found this post helpful!