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Boba Network to Boost Ecosystem Growth with WAGMI v2

coinquora.com 01 April 2022 13:58, UTC
Reading time: ~2 m

One of the leading crypto projects Boba Network has announced that it is releasing WAGMI v2 today – a new version of its incentives program. The Boba team says the upcoming release will improve BOBA liquidity mining, ecosystem growth, and developer activity.

WAGMI incentives have been helping Boba Network to onboard dozens of projects – more than 30 of them are currently building on the network and “leveraging the platform’s ultra-fast transaction times and cheap gas fees,” the team at Boba stated in a press release.

“We are excited to announce the rollout of WAGMI v2, with which we are implementing goals specific to Boba Network dApps that will ultimately further boost our network’s transaction count. These improvements and upgrades include a massively increased rewards pool, as well as rewards for builders and users of our best dApps, which will be calculated by establishing project-specific KPIs,” said Boba Network’s founder Mr. Alan Chiu.

The announcement further specified what improvements are being made with the WAGMI v2 launch. Boba Network is increasing its rewards pool up to $3 million worth of BOBA. $2 million from the pool are set aside for liquidity providers, while $1 million can be used as a bonus incentive “if total April volumes on OolongSwap hit $25 million,” the team said.

Additionally, dApp-specific KPIs and range modification will let users earn rewards by providing liquidity, swapping, bridging, trading and more – including prizes, airdrops, and other giveaways.

Also, WAGMI v2 will have a shorter token redemption period, down to 30 days vs 60 days earlier.

The team said that there will be new partners and collaborators announced soon. It has shared an info page with additional details and reminded users to check their Discord channel.

Boba Network was bullish yesterday and gained 5.56% in a day. At the time of writing it was trading at $1.45. Boba Network says it “delivers a faster, cheaper, smarter, more seamless experience for the next billion users of Ethereum.

It is a next-generation Ethereum Layer 2 Optimistic Rollup scaling solution that reduces gas fees, improves transaction throughput, and extends the capabilities of Ethereum.” Its proprietary “Turing hybrid compute technology” allows Ethereum developers to build dApps that trigger code executed on web-scale infrastructure, such as AWS Lambda, and allow to leverage sophisticated algorithms “that are far too expensive, far too slow, or otherwise practically impossible to execute on-chain.”

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