BOB, the Gateway to Bitcoin DeFi which combines Bitcoin's security with Ethereum's DeFi innovation, has completed its community sale, bringing total funding to over $25 million. The sale marks an important milestone in BOB's transition to community ownership, allocating tokens to participants around the world ahead of the upcoming TGE.
The community sale was conducted through CoinList and Gate Web3 Launchpad. A total of 2% of $BOB tokens were allocated to 2,133 participants, adding $4.2M to BOB’s total funding.
Led by BOB Labs, the community sale focused on broad distribution and rewarding early support, offering participants the opportunity to buy $BOB tokens at fully diluted valuations (FDVs) of $165M (Community Member tranche) and $230M (Public tranche). Both tranches were available with 50% day 1 unlock and 50% vesting linearly over the following 3 months. The team and VC backers vest over 3 years with a 12-month cliff.
BOB Co-Founder Alexei Zamyatin had this to say on this latest milestone: "The community sale was an important part of our pledge to transition BOB to community ownership. As the number 1 Bitcoin DeFi platform in terms of liquidity and users, we now have an aligned group of community protocol owners who, alongside tier 1 institutional funds, DeFi founders and leading BTC businesses, will be the driving force behind BOB’s mission to become the Gateway to Bitcoin DeFi, everywhere."
Previous Investment Rounds
Prior to the community sale, BOB had raised a total of $21M in a number of seed and strategic rounds. The combined funding figure of $25M demonstrates strong backing for BOB’s mission to unlock $700B in idle BTC as the Gateway to Bitcoin DeFi - increasing the percentage of Bitcoin used in true BTCFi from just 0.3% up to match Ethereum’s 30% DeFi utilisation.
The most recent strategic round was announced in August this year. It saw many existing investors double down on their commitment, including Castle Island Ventures (which led the original seed round), Ledger Cathay Capital, RockawayX, Asymmetric, Hypersphere, IOSG Ventures, Bankless Ventures, Sigil/Zeeprime, CMS & Daedalus. New strategic partners Amber Group, Sats Ventures and Nathan McCauley (CEO of Anchorage Digital) joined the investor base, complementing an earlier angel round.
This backing has enabled BOB to achieve significant technical milestones in pursuit of its vision, including becoming the first hybrid ZK rollup, launching a BitVM bridge on testnet with major institutional partners, and pioneering the first Bitcoin intents system that enables 1-click BTC access across major chains.
With TGE and the transition to full community governance around the corner, BOB will continue to focus on delivering on the Gateway to Bitcoin DeFi roadmap.
