Bitcoin DeFi Chain BOB Taps Merkl to Manage BOB RISE Liquidity Program

The hybrid layer 2 chain BOB announces the launch of the BOB RISE program, aimed at distributing 750,000 Optimism (OP) tokens to users as rewards to accelerate the growth of Bitcoin DeFi on the Superchain.

With this new liquidity program, DeFi users can easily earn OP by providing liquidity, trading on DEXs, lending & borrowing, staking, and participating in other Bitcoin DeFi activities through selected protocols on BOB.

To ensure the smooth execution of the program, BOB has partnered with Merkl. The incentive distribution platformhandles reward calculation and allocation, the token claiming process, and provides a dedicated app for a seamless user experience.

Merging Bitcoin’s security with Ethereum’s DeFi

BOB, short for Build On Bitcoin, is a hybrid layer 2 chain that combines Bitcoin’s security with Ethereum’s DeFi innovation.

As part of its mission to put Bitcoin at the heart of DeFi, BOB recently received a 750,000 OP grant from Optimism. These OP tokens are being distributed starting today via Merkl through the BOB RISE program!

Earn rewards by interacting with Bitcoin DeFi products

The grant received by BOB is exclusively intended to be used as incentives for users.

With BOB RISE, all OP tokens are distributed to users of protocols building on BOB, such as Oku and Gamma, as well as new partners Euler and Veda. Veda has just launched HybridBTC.pendle, the first of many new Bitcoin Yield Bearing Assets (YBAs) on BOB. Hybrid BTC leverages BOB’s Bitcoin secured network and bridges to securely access yield on other chains. HybridBTC.pendle can be used to pursue additional yield as collateral on lending and borrowing platform Euler, or as DEX liquidity with Oku (Uniswap) and Gamma.

To earn rewards, users simply need to provide liquidity, trade, lend & borrow, or stake in Bitcoin DeFi products on these selected protocols. The list of incentivized opportunities can be found on the BOB RISE app, powered by Merkl.

How to participate

Joining BOB RISE and earning OP tokens is simple:

1. Go to the BOB RISE app at bobrise.xyz
2. Browse available opportunities: check participating protocols, APY, and daily rewards
3. Click "Supply" and deposit liquidity directly on the protocol's dApp

Merkl: the backbone of BOB RISE

As BOB’s strategic partner, Merkl brings its full suite of capabilities to ensure the success of this reward program:

• Calculation and distribution of rewards: Merkl manages the calculation and distribution of OP tokens to liquidity providers, lenders, and traders engaging with participating DeFi protocols
• Designing the BOB Rise app: Merkl has developed and hosts the BOB Rise app, where participants can:
  • Explore available opportunities and participating protocols
  • Find links to pools where they can supply liquidity to earn rewards
  • Check the user leaderboard
  • Claim OP tokens on a dedicated dashboard page
• Day-to-day operations: Merkl ensures the program runs smoothly by providing support to the BOB team, participating protocols, and users.

With its new partnership with BOB, Merkl keeps pushing the boundaries of liquidity and incentive program management. After powering initiatives for zkSync, Swell, Optimism, and Puffer, Merkl is reinforcing its position as the most powerful platform for seamless and efficient incentive distribution. And this is just the beginning, and big things are coming!