After a $45 million fundraising round and a developer incentive scheme enticed investors back to the network, the price of BOBA increased by double digits.
Due to venture capitalists and money managers turning to the crypto market as the next investment class that would deliver the best return, the institutional adoption of cryptocurrency has been gaining traction in recent years. The Boba Network (BOBA) is the newest protocol to profit from institutional interest and the long quest for a layer-two scaling solution for Ethereum (ETH) that can handle low-cost transactions and quick processing times.
📢📢 Boba Network has closed a $45M Series A Round at $1.5b Valuation 📢📢
•Close to 400 participants
•Includes https://t.co/b5kJgDGKgX, Huobi, M13, and others
•Focus on scaling and ecosystem developmentMore details: https://t.co/sFf2p4jao5
— Boba Network ($BOBA) (@bobanetwork) April 5, 2022
The completion of a $45 million Series A investment round, the launch of the WAGMI v2 incentives program, and the expansion of the launch of new protocols on the network are three reasons for the rising price of BOBA.
A $45 million funding round gives Boba a boost.
The Boba Network has just benefited from completing a $45 million Series A fundraising round, revealed on April 5. The fundraiser drew around 400 people, including venture capital firms Infinite Capital, Hypersphere, 10X Capital, Hack VC, and Dreamers VC. Graph, FEI Labs, Crypto.com, and Huobi were among the crypto-focused startups in the investment round.
The Boba Network is presently valued at $1.5 billion. The team intends to utilize the funds to make cryptocurrencies more accessible to the general public, overcome Ethereum’s computational limits, and offer blockchain developers the tools they need to create new products.
Also, read – Coinbase Stock Market – Crypto Exchange Valued at $84 Billion
The WAGMI v2 incentive program is a new version of the WAGMI incentive program.
The advent of the WAGMI v2 incentive scheme, which aimed to help improve BOBA liquidity mining, build the ecosystem, and attract developers, contributed to the more excellent activity and attention to the Boba Network. WAGMI rewards active users in the Boba Network ecosystem with prizes to improve the total transaction count on the network and application-specific reward pools to draw more attention to the network’s greatest DApps.
🎉 $BOBA WAGMIv2 is starting tomorrow!💰
It’s our biggest WAGMI yet, featuring:
✅Rewards pool up to $3,000,000
✅Rewards Redemption: 30 Days
✅More ways to earnRead More 👇https://t.co/m8S13Vgo9E
— Boba Network ($BOBA) (@bobanetwork) March 31, 2022
The second round of WAGMI kicked off on April 1. It will run until the end of the month, with up to $3 million in BOBA up for grabs. Two million dollars are set out for liquidity providers, and if the total monthly trading volume on OolongSwap hits $25 million, a $1 million extra incentive is offered.
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About the Author: Diana Ambolis
