⚡ Bitcoin Meets DeFi: Hybrid Layer 2 BOB Bags 9.5M to Rewrite the Game

Build on Bitcoin (BOB) is fusing BTC’s fortress-level security with Ethereum’s DeFi firepower — and now it’s got 9.5M in fresh ammo.

📌 Quick Take

• Total Funding: 21M (since Dec 2024)
• Latest Raise: 9.5M
• Lead Backers: Castle Island Ventures, Ledger Cathay Capital, RockawayX, Sats Ventures
• Tech Stack: Hybrid Layer 2 — Bitcoin-secured + Ethereum-compatible DeFi
• Milestones: Native Bitcoin DeFi on testnet • First hybrid ZK rollup live

🛠 What is BOB?

BOB isn’t just another BTC side hustle. It’s a hybrid Layer 2 that:

• Anchors to Bitcoin for security + finality
• Runs Ethereum-style smart contracts for DeFi
• Avoids sketchy multisig bridges by using trust-minimized architecture

The goal? Unleash Bitcoin’s trillion-dollar liquidity into the DeFi arena — without compromising security or forcing BTC holders to wrap their assets on foreign chains.

💡 Why It Matters — Bitcoin’s DeFi Gap

Bitcoin dominates crypto’s market cap (>1T) and boasts over 300M users, yet its DeFi presence is… tiny. Most BTC in DeFi is wrapped on Ethereum or other chains — a setup prone to fragmentation and bridge risk.

BOB flips the script by making BTC a first-class citizen in DeFi:

• Deposits + bridges secured by Bitcoin
• Ethereum compatibility for liquidity and dApps
• Hybrid architecture that plays both ecosystems without picking sides

🔬 Under the Hood

• BitVM + Optimistic Rollups: No BTC fork needed. Optimistic rollups verify against Bitcoin directly.
• Hybrid Ethereum Bridge: ETH and ERC-20 deposits get Bitcoin-level security by waiting for BTC finality.
• First Hybrid ZK Rollup: Cuts costs + boosts efficiency, already live on testnet.

🗣 Industry Take

• Alexei Zamyatin, Co-Founder: “We’re defining Bitcoin’s role in DeFi — not just as collateral, but as infrastructure.”
• Nic Carter, Castle Island Ventures: “BOB’s model is the most trust-minimized way to bring BTC into programmable finance.”

🚀 What’s Next

With 9.5M fresh in the bank, BOB plans to:

• Scale its hybrid chain for mainnet
• Expand BTC-native DeFi use cases
• Onboard institutions + power users looking for Bitcoin-grade trust with Ethereum-level flexibility

TL;DR

BOB just raised 9.5M to build the first hybrid Layer 2 merging Bitcoin security with Ethereum DeFi. It’s live on testnet, running the first hybrid ZK rollup, and aims to make BTC a core player in decentralized finance without bridge compromises.