Build on Bitcoin (BOB), a hybrid Layer‑2 for native BTC DeFi, clinches $21M from investors like Castle Island and Anchorage to accelerate its roadmap.
A modern, stylized graphic of two bridges, one labeled “Bitcoin” and the other “DeFi,” connecting across a glowing network. In the background, faint Ethereum and Bitcoin symbols float amid a digital grid. Color palette is cool blues and golds, with a soft glow and shallow depth of field to highlight the connectivity and innovation.
BOB Hits Major Milestone in Bitcoin DeFi Race
Build on Bitcoin, better known as BOB just got a major vote of confidence. Since December 2024, this fast-rising Bitcoin‑DeFi project has pulled in a total of $21 million in funding. To top off the latest $9.5M round, institutional heavyweights like Anchorage, Amber Group, and Sats Ventures have joined existing backers, including Castle Island Ventures.
BOB is betting big on one thing: making Bitcoin the central pillar of DeFi, powered by its unique hybrid Layer‑2 chain anchored to the security of BTC and the flexibility of Ethereum.
“BOB’s hybrid model is turning heads,” says Nic Carter of Castle Island. “We believe Bitcoin is core to DeFi, and BOB is building the bridge we need.”
A Hybrid Chain Melding BTC Security with DeFi Freedom
BOB isn’t just another Ethereum layer; it’s a true hybrid blending two systems.
- It uses BitVM, a novel bridge protocol enabling seamless, trust-minimized transfers of native BTC into DeFi.
- On the Ethereum side, it's built with the OP Stack, offering DeFi features familiar to Ethereum developers.
- Meanwhile, Bitcoin's network still underpins transaction finality, thanks to BTC-staked validators.
This means users get the best of both worlds: unwrapped BTC (no wBTC required) flowing directly into DeFi apps, while security remains at Bitcoin’s industry-standard levels.
What’s Next on BOB’s Roadmap
According to CTO Dominik Harz, BOB’s short-term mission is launching the BitVM bridge on mainnet. In the medium term, the team aims to deliver BTC-staked finality by the end of 2025. Further enhancements include BTC-backed bridges to Ethereum, Solana, Sui, and more.
BOB’s testnet is already active, supported by names like Amber Digital, Lombard, and RockawayX. The team plans to bring the platform to life in the fourth quarter of 2025, enabling native BTC DeFi at scale.
Early Adoption Signals Momentum
BOB’s growth is showing real signs of traction, with $212 million in total value locked (TVL) and $132 million in DeFi activity. Over 553,000 users have interacted with the platform so far, which is impressive for a project so early in its lifecycle.
These numbers underline the demand for native and secure Bitcoin entry points into decentralized finance.
Why BOB Matters in the DeFi Ecosystem
Here’s the real value proposition:
- Developers can build DeFi products like loans, swaps, or yield farms directly using real BTC.
- Users retain stronger control over their assets; there’s no centralized wrapping process.
- Security buffers are higher, thanks to the billions of dollars worth of BTC backing finality and validators.
Simply put, BOB could be the clarity and infrastructure DeFi needs to truly embrace Bitcoin, and vice versa.
