BOB (Build on Bitcoin) Project Report

1. Key Project Highlights

BOB (Build on Bitcoin) is a revolutionary hybrid Layer 2 solution designed to serve as the gateway to Bitcoin's emerging DeFi ecosystem. Through its hybrid architecture, BOB combines Bitcoin’s strong security model with Ethereum’s smart contract flexibility, aiming to unlock significant idle liquidity within the Bitcoin ecosystem.

Core Highlights:

• Hybrid Layer 2 architecture built on the OP Stack, inheriting Bitcoin security and offering full EVM compatibility

• Native BTC support enabling custodian-free deposits and withdrawals through BitVM

• Institutional-grade security with Bitcoin finality via Babylon, backed by staked BTC

• Multi-chain interoperability supporting BTC cross-chain operations across more than eleven major public chains

• Strong ecosystem growth with more than 120 deployed projects and over $200 million in TVL
  
  

2. Project Overview

2.1 Project Vision

BOB’s mission is to position Bitcoin as the center of the DeFi ecosystem. Currently, only a very small share of Bitcoin’s market capitalization participates in DeFi compared with Ethereum. BOB aims to close this gap through continuous technological innovation, offering Bitcoin holders secure and accessible yield-generation opportunities.

2.2 Technical Architecture

BOB follows a three-stage development roadmap:

• Stage 1 (Live): Ethereum-based Optimistic Rollup with full EVM compatibility

• Stage 2 (Q1 2025): Integration of Bitcoin finality and introduction of BTC staking

• Stage 3 (In Research): Work toward trustless Bitcoin bridging through BitVM technology

2.3 Core Products

• BOB Earn: One-click Bitcoin staking, DeFi services, and vault strategies

• BOB Gateway: Native BTC cross-chain bridge connecting more than eleven public chains

• Gateway SDK: Integration tools enabling more than 15,000 dApps to support native BTC

3. Token Economics

3.1 Basic Token Information

• Token Symbol: BOB

• Maximum Supply: 10 billion

• Initial Circulation: 2.22 billion

• Token Standard: ERC-20 (minted on BOB hybrid chain)

3.2 Token Allocation

3.3 Token Utility

• Network security staking using BOB tokens, with node yields up to sixty percent APY

• Governance rights allowing holders to participate in protocol upgrades and parameter adjustments

• Priority access to protocol features, new releases, and DeFi strategies

• Fee discounts when using BOB for network fees

3.4 Unlocking Mechanism

• Seventy-seven point eight percent of tokens are locked at TGE

• Foundation, ecosystem, and community allocations unlock gradually over forty-eight months

• All tokens become fully unlocked forty-eight months after issuance

4. Roadmap

4.1 Completed Milestones

• ✅ May 2024: Mainnet launch with OP Stack-based Optimistic Rollup

• ✅ 2024: Completed three funding rounds totaling more than twenty-five million dollars

• ✅ November 2025: Token Generation Event (TGE) and exchange listings

• ✅ November 2025: Hybrid nodes launched with support for Bitcoin finality

4.2 Future Plans

• Q1 2025: Bitcoin finality and BTC staking support

• 2025: BitVM mainnet bridge enabling trust-minimized BTC deposits and withdrawals

• 2026: Full Bitcoin-level security, transitioning into a true Bitcoin Layer 2

• Long-term vision: Evolution into a ZK-Rollup as Bitcoin protocol upgrades mature

5. Ecosystem

5.1 Core Partners

• Infrastructure: Chainlink, LayerZero, Fireblocks

• DeFi Protocols: Uniswap, Euler, Aave (planned)

• Institutional Custody: Anchorage, B2C2, Amber Group

• Bitcoin Ecosystem: Babylon, BitVM, Lightning Network

5.2 Ecosystem Data

• Deployed Projects: More than 120

• DEX Trading Volume: More than 1.7 billion dollars

• Unique Users: More than 350,000

• Total Transactions: Increasing rapidly over time

5.3 Developer Support

• Full EVM compatibility with strong Solidity development support

• Extensive developer tools and documentation

• Gateway SDK with multi-chain dApp integration support

• Active developer community and technical support channels

6. Team Background

6.1 Core Team

• Alexei Zamyatin (Co-founder & CEO): Bitcoin researcher, BitVM2 contributor, more than ten years of blockchain experience

• Dominik Harz (Co-founder & CTO): Distributed systems expert and former Imperial College London researcher

6.2 Technical Strength

The team has long-standing involvement in the Bitcoin ecosystem, with deep expertise across BitVM, cross-chain bridging, and Layer 2 scaling. Co-founder Alexei Zamyatin co-authored the BitVM2 research paper, reinforcing the project’s strong technical authority.

7. Funding Status

7.1 Funding History

• Seed Round (March 2024): Ten million dollars led by Castle Island Ventures

• Angel Round (July 2024): One point six million dollars with participation from Ledger Ventures

• Strategic Round (August 2025): Nine point five million dollars from multiple institutional investors

• Community Sale (November 2025): Four point two million dollars

Total Funding: More than twenty-five million dollars

7.2 Investor Lineup

• Top VCs: Coinbase Ventures, IOSG Ventures, CMS Holdings

• Bitcoin Ecosystem: Castle Island Ventures, UTXO Management

• DeFi Sector: Alliance DAO, Bankless Ventures

• Strategic Investors: Anchorage, Amber Group, B2C2

8. Competitive Landscape

8.1 Bitcoin L2 Market Comparison

8.2 Competitive Advantages

• Only Layer 2 supporting both EVM and native BTC

• Institutional-grade security and compatibility

• Most complete Bitcoin DeFi ecosystem

• Strong technical team and high-quality investor support

9. Risk Analysis

9.1 Technical Risks

• BitVM technology is still early, and long-term stability requires verification

• Hybrid architecture introduces additional complexity and potential vulnerabilities

• Optimistic Rollup challenge windows may reduce capital efficiency

9.2 Market Risks

• Bitcoin DeFi adoption may grow more slowly than expected

• Strong competition from other Bitcoin Layer 2 projects

• Token unlocks may create short-term selling pressure

9.3 Regulatory Risks

• Cross-chain bridging faces regulatory uncertainty

• Some jurisdictions may restrict associated products

• Continuous compliance investment is required

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