Introduction to BOB Gateway
Build on Bitcoin (BOB), a notable hybrid Layer 2 blockchain, has unveiled the BOB Gateway, a user-friendly solution that simplifies the process of transferring native bitcoin to Bitgo’s Wrapped Bitcoin (wBTC.OFT) across a wide network of 11 interoperable blockchains. These include prominent networks like Ethereum, Avalanche, Base, BNB Chain, Unichain, Optimism, and Sei, among others.
Innovative Features
This innovative launch is made possible through the integration of BOB’s Bitcoin intents system alongside the OFT standard from Layerzero, enabling swift and seamless exchanges of BTC for wBTC.OFT. Approximately 15,000 decentralized applications within these ecosystems can now facilitate direct bitcoin deposits by utilizing the newly released Gateway SDK.
Streamlining Cross-Chain Transactions
BOB emphasizes that this update significantly streamlines cross-chain transactions, replacing the traditionally complicated bridging methods with a straightforward conversion mechanism that introduces liquidity to decentralized finance (DeFi) markets while maintaining regulated custody for all issued wBTC tokens.
Key Insights from BOB and Layerzero
Both Alexei Zamyatin, co-founder of BOB, and Simon Baksys from Layerzero, underscored the enhancement in accessibility and user experience as key advantages of this development.
Future Plans
Furthermore, BOB has expressed intentions to broaden its support to additional blockchains such as Soneium, Bera, Sonic, and others, effectively creating more pathways for users to engage with Bitcoin DeFi.
