In November 2021, the Boba foundation launched its native network token called BOBA. With the launch, Boba became the first tokenized scaling solution on Ethereum. The token itself is powering Boba’s advanced scaling ecosystem. The goal of the BOBA token is to create a new digital token economy where the user, developer and broader crypto community can be self-sustainable and truly experience a tokenized Web3 vision.
BOBA is an Ethereum based token, also known as an ERC20 token. Meaning that it’s compatible with all EVM-Blockchains such as Avalanche, Binance, Moonbeam and Fantom. Users can interact and transfer BOBA easily between all the Boba deployments. Learn more about bridging between our Boba deployments.
BOBA is designed for serving specific use cases in the Boba ecosystem. Basically, it grants the rights to users to perform some actions on a specific blockchain network or decentralized applications. We at Boba, are always striving to add more utility and expand the token capabilities to its full potential. Learn more about BOBA use cases
$BOBA holders can propose community initiatives, infrastructure ideas or vote for the direction of the network’s future.
To transact on the Boba platform, you are charged a fee. Network fees on all Boba deployments can be paid in BOBA or protocol’s native token such as ETH. We implemented a “dual fee system” where the user has the freedom to choose their preferred payment.
$BOBA is used to fund Boba’s network infrastructure growth with incentives, developer grants and more.
BOBA holders can stake their tokens and receive yield.
Invoking Hybrid Compute within Boba smart contracts will be charged and paid in BOBA.
Economics in crypto can be referred to as “tokenomics”. It is based on the use, value, distribution and supply of the token. The Boba foundation created a maximum token supply and will distribute it accordingly. The circulating supply of tokens that are publicly available will increase gradually over the next 3 years, until the maximum amount of 500 Million is reached. We at Boba think that a fair token distribution is an important part of realizing a decentralized future. That’s why almost 30% of the total supply was airdropped to the community. Learn more about BOBA tokenomics.
How to purchase BOBA?
BOBA is available on most of the major markets, both centralized and decentralized. BOBA can be bought directly with fiat or swapped for digital assets. A user can select their preferred method of buying the BOBA token. Never bought any crypto before? Follow the how to buy cryptocurrency tutorial.
Buying cryptocurrency is known to be extremely volatile compared to traditional stocks and bonds. It’s not uncommon for crypto to lose 10%-20% of its value in one day. Blockchain is a new technology and most applications are new. Before depositing any large quantities of money, make sure you understand the risks.