Boba Network is excited to announce that the OMG Foundation has launched a token to support the network. The Boba token (BOBA) is a governance token for the Boba DAO, and can also be staked for rewards on Boba Network.
Whenever trading or using BOBA tokens, please verify that you are using tokens from the official BOBA contract.
BOBA Token Utility
BOBA will be used for governance of the Boba DAO, which will be used for community initiatives and direction for the network’s future. Each BOBA holder will get one vote for every token that they stake on Boba Network. Token holders will be eligible to submit proposals, vote, and delegate votes for proposals on the DAO in accordance with the governance guidelines.
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. BOBA stakers will receive equivalent xBOBA tokens that will still retain the same DAO voting rights at BOBA tokens.
The timing and the specifics of the fee-sharing arrangements will be shared in a Boba DAO governance proposal and subject to a DAO vote after the network has been operating at a steady state long enough to help determine such details. Staking rewards are currently coming from the treasury, and will be adjusted when a DAO proposal has passed and the network fees have stabilized.
BOBA Token Listing
For anyone who wishes to participate in the Boba DAO or staking rewards, the Boba Token is available on the following Centralized Exchanges.
(For additional exchange partners, please check Coingecko.)
BOBA Tokens are also available on many popular DEXs on L1 and L2. To get BOBA on Layer 2, check out Oolongswap.
BOBA Supply & Circulation
The circulating supply of BOBA is currently around 150M. The circulating supply will gradually increase over the next four years to reach the maximum supply of 500M. Some of the fees earned by Boba Network will be allocated to purchase BOBA tokens on behalf of the Boba treasury over time. The treasury will be deployed to fund liquidity mining incentives and build the Boba ecosystem.
BOBA Token Allocation
$OMG Token Holders
Current & Future Team Members
Users that held OMG tokens on L1 or L2 at the time of the snapshot date can claim BOBA tokens on a 1:1 basis. The snapshot occurred on November 12th, 2021 at the first block after 00:00 UTC.
L1 Ethereum Snapshot Block: 13597967.
L2 Boba Network Snapshot Block: 15354.
Bridging OMG from a non-custodial wallet
In order to claim BOBA tokens, user must have held their OMG in a non-custodial wallet on either L1 or L2. Any OMG tokens that are bridged from L1 to Boba Network after the snapshot date will still qualify for the BOBA airdrop if they have not already received the airdrop on a participating exchange and are moved onto L2 before November 12th, 2022.
Any tokens that are claimed on the L2 in this way will be staked on the Boba Network and locked for 30 days. After the lockup period, the BOBA tokens will be available to be unstaked and used freely. To qualify for this method, the OMG tokens must be bridged from the wallet address on L1 that held the OMG on the snapshot date. Any unclaimed BOBA tokens become part of the BOBA treasury.
To claim your airdrop tokens, users must bridge their OMG to Boba Network through the gateway or a partner bridge with the same wallet address that held the OMG on L1.
Then, go to gateway.boba.network and navigate to ‘airdrop’ at the bottom left. If the wallet is eligible for the airdrop, there will be an option to claim tokens on that page.
Holding on a participating exchange
Anyone who held OMG on a participating exchange will be eligible to claim or receive their BOBA through their custodial wallet. For details on how to claim tokens on a participating exchange, please click on the links below to learn about the exchange distribution plans. Any OMG tokens that were held on exchanges that are not participating will not receive the airdrop. The Boba Team has distributed all BOBA tokens to the exchanges, if they haven’t been distributed or unlocked please contact the exchange to verify the status of the distribution.
For FTX.US and FTX App Users: The airdrop is only available to on the above listed platforms, not FTX.US, FTX App (formerly Blockfolio).
For bitbank customers: 1. The BOBA airdrop in Japan will be only conducted when the procedures in accordance with the self-regulatory rules have been completed. 2. As for the timing and the mechanics of the airdrop, it will depend on each exchange in Japan.