TechFlow news, July 1 — According to Decrypt, the Boba Governance Foundation for the Layer2 blockchain announced a $70 million capital commitment from the Awaken Foundation and LDA Capital to support the ongoing development and ecosystem expansion of Boba Network.
In addition, the Boba Governance Foundation has entered into an agreement with the FTX Recovery Trust, under which all BOBA tokens held by the trust have been transferred to the foundation. In exchange, among other consideration and mutual debt releases, the FTX Recovery Trust has obtained the right to purchase up to approximately 29.4 million BOBA tokens from the Boba Governance Foundation at a price of $0.09 per token over the next 18 months.
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