The Boba Foundation launched its native network token called $BOBA to power BOBA’s advanced scaling infrastructure. $BOBA is an Ethereum ERC-20 token that is compatible with all EVM-protocols such as Avalanche, Binance, Moonbeam and much more.
UTILITY OF BOBA
The goal of $BOBA is to create a new digital token economy where the user, developer and broader crypto community can be self-sustainable and truly experience a decentralized Web3 vision. $BOBA supports a variety of utilities.
Invoking HybridCompute™ within Boba smart contracts will be charged and paid in $BOBA.
Network fees on all Boba deployments can be paid in $BOBA or protocol’s native token.
$BOBA holders can propose community initiatives, infrastructure ideas or vote for the direction of the network’s future.
$BOBA is used to fund the infrastructure growth with dev grants, incentives and more.
$BOBA holders can stake their tokens and receive yield.
$BOBA can be traded on a large variety of crypto markets and has the following market statistics.
TOKEN SUPPLY AND DISTRIBUTION
Fair token distribution is an important part of realizing a decentralized vision. With this in mind, the Boba Foundation airdropped a large amount of the initial tokens to the crypto community. Let’s break-down the numbers of the 500M Boba token distribution.
Starting September 20, 2022, 29,979,550 tokens will be unlocked every quarter.
The last unlock will take place on June 20, 2025.