Boba Network (BOBA)
| Market Cap | $32,784,443 |
|---|---|
| Trading Volume | $1,706,951 |
| Volume / Market Cap | 0.0521 |
| Total Supply | 500,000,000 BOBA |
| Max Supply | 500,000,000 BOBA |
Boba Network is currently trading at $0.1912, after a price change of 3.16% in the last 24 hours.
Ranked as cryptocurrency #424 by capitalization today, BOBA market cap is valued at $32,784,443. BOBA trading volume reached $1,706,951 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on BOBA coin price prediction page.
What is Boba Network?
Boba Network is a layer-2 solution that is developed by the Enya team. The protocol is based on Optimistic Rollup technology and benefits from Ethereum’s proof-of-stake consensus algorithm to secure transactions. Rollups are Ethereum’s smart contracts that facilitate the relay between the main chain and layer 2, which port functions from the main blockchain.
Boba’s smart contracts allow developers to create decentralized applications that port code and use external algorithms. Boba features include on-ramp swap, rapid exit, and cross-chain bridging solution. The network layer-2 functionality boosts transaction speeds with Ethereum’s blockchain security.
BOBA is the native token powering the Boba network. There are currently 158,960,846.86 circulating BOBA tokens from a total supply of 500 million and a maximum matching supply. Holders of BOBA tokens are eligible to participate in the project’s governance through Boba DAO. The holders vote on proposals where the votes are weighted based on the staked tokens.
The stakers of BOBA tokens are also eligible to share part of the network’s transaction fees. 100,000 xBOBA, staked tokens, are required to forward a proposal via the gateway.boba.network. BOBA and xBOBA token holders can delegate their votes only to a single address at a time. Boba was founded in 2018 by Alan Chiu.