Boba Network Public Mainnet Launch

Boba Network, a next-generation Ethereum scaling solution, is thrilled to announce the mainnet launch of its Layer 2 Optimistic Rollup. Developed by OMG Foundation core contributor Enya, and based on the publicly available, open-sourced Optimism codebase, Boba Network aims to deliver a faster, cheaper, more seamless experience for the next billion users of Ethereum.

In support of the Boba mainnet, OMG Foundation is releasing a new governance token for the platform, $BOBA. $BOBA tokens will be airdropped to existing $OMG token holders who have bridged their $OMG tokens to Boba Network by a snapshot date later next month. FTX, one of the largest crypto exchanges, has already committed to support the airdrop, with additional exchanges to follow suit. This new token will be the basis for voting on the Boba DAO, the next natural step of Boba’s focus on users, the community, and decentralization. $BOBA tokens staked on Boba Network will also receive a portion of the transaction fees earned by the network through an on-chain distribution governed by the community.

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“From the beginning, our mission has been to create and grow an inclusive, decentralized ecosystem for developers and end users. Boba’s mainnet will allow Boba developers to deliver a faster, cheaper, and more delightful experience to the next billion users of Ethereum. We are thrilled by the support of OMG Foundation in creating the new $BOBA token to offer the community the ability to participate in the governance and growth of Boba Network.”— Alan Chiu, Founder and CEO of Enya

Boba has a vision of expanding and democratizing the Ethereum ecosystem, and its L2 is the first step towards bringing that vision to life. Boba and its large, diverse community will focus on creating a great experience for developers and users by offering a native fast exit bridge, NFT bridging between L2 and L1, and leveraging Ethereum for security.

ABOUT BOBA Network
Boba is an Ethereum Virtual Machine (EVM) compatible Layer 2 Optimistic Rollup that helps Ethereum smart contracts scale while delivering a delightful user experience. Boba enables Ethereum developers to build dApps that trigger code running on web-scale infrastructure such as AWS Lambda, making it possible to leverage sophisticated algorithms that are far too expensive, far too slow, or otherwise practically impossible to execute on-chain. Learn more at boba.network.

ABOUT ENYA
 Enya pioneered decentralized privacy and became the largest provider of secure multiparty computation services, serving more than 10 million users across 91 countries. Enya creates decentralized infrastructure solutions that serve the next billion users, leading with Boba Network. Boba is an Ethereum Layer 2 solution that scales and augments Ethereum, helping developers deliver a more delightful and inclusive user experience. Enya is a core contributor to OMG Foundation.

ABOUT OMG FOUNDATION
OMG Foundation is a non-profit organization dedicated to expanding the Ethereum ecosystem to encompass as many developers and users as possible in order to bring the ideals of the Web3 movement into reality. The Foundation currently supports the development of Boba Network, an EVM-compatible Ethereum L2 platform with capabilities for advanced computations, and OMG Plasma Network, a high-throughput token transfer network on Ethereum.

RESOURCES
Enya Press Release