BOB announces joint DeFi incentive campaign BOB Rise with Optimism
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BOB announces joint DeFi incentive campaign BOB Rise with Optimism
Users who interact with four DeFi protocols on BOB can share 750,000 OP tokens.
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On February 25, the hybrid Layer2 project BOB (Build on Bitcoin) announced a joint DeFi incentive campaign with Optimism—BOB Rise—aimed at accelerating the development of BOB's BTC DeFi ecosystem by incentivizing liquidity providers and supporting lending for the growing market of Bitcoin liquid staking tokens (LST).
The 750,000 OP tokens for this initiative were awarded to BOB through the sixth season of the Optimism Grant in December last year. The primary goal of the BOB Rise campaign is to reward users who deposit BTC assets into four key DeFi protocols on BOB, with these 750,000 OP tokens distributed as incentives for depositing BTC onto BOB.
BOB Rise Campaign Details
The BOB Rise campaign runs from February 24, 2025, to June 23, 2025, lasting four months, with 750,000 OP tokens distributed across five DeFi protocols within the BOB ecosystem. These protocols were carefully selected by the BOB team based on their market influence, execution capability, and potential for sustained growth through a rigorous application process.
Rewards accumulate every eight hours and can be claimed at any time by users until one month after the campaign ends.
Participation is simple: users need only deposit BTC into any one or more of the following four DeFi protocols on BOB (participating in more protocols increases weight and thus the share of OP rewards):
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Oku (Uniswap): The official Uniswap interface deployed on BOB, enabling advanced DeFi trading.
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Euler: A decentralized, permissionless lending protocol that allows users to earn interest on crypto assets or hedge against volatile markets without relying on trusted third parties. Euler has been audited by multiple security firms and offers a $1 million bug bounty program.
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Veda-powered HybridBTC.pendle Vault: A BTC vault where users deposit BTC on BOB to generate yield via Pendle on Ethereum, with earned BTC returns automatically sent back to users on BOB. Operated by Veda—the first native yield layer built specifically for DeFi ecosystems—this vault leverages technology supporting major DeFi products such as ether.fi Liquid and Lombard DeFi Vault, achieving a cumulative TVL of $3 billion to date.
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Gamma: Automates Uniswap liquidity management through automatic rebalancing to help users maximize returns.
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Hourglass: Allows users to lock funds for a set period to boost their rewards or mining points, similar to Pendle.
Alexei Zamyatin, co-founder of BOB, said: "BOB’s hybrid L2 model offers a unique natural advantage by combining Bitcoin’s liquidity and security with Ethereum’s scalability and innovation, positioning Bitcoin as a core pillar of DeFi. The launch of BOB Rise aims to showcase the market potential of our newly launched Hybrid BTC product this week. Users simply deposit BTC on BOB to earn yield from other chains, all secured by Bitcoin network security. The first Hybrid BTC vault earns yield from Pendle on Ethereum while automatically returning earned BTC yields to users on BOB."
BOB Rise Campaign Dashboard
Participants in BOB Rise can access the BOB Rise Dashboard at bobrise.xyz to track incentives, manage positions, and claim rewards. The dashboard, created and managed by Merkl, provides real-time visibility into DeFi incentives throughout the campaign.
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