The Bitcoin DeFi token is up 25% from its launch price.
Despite the crypto market’s woes, newly launched token BOB, from the Build on Bitcoin BTCFi project, is rallying after a Coinbase listing.
BOB launched at $0.018, or a $45 million market capitalization on Nov. 20, and is up 25% from its launch price, making it one of the few tokens that are up over the last 24 hours.
Build on Bitcoin is an optimistic rollup chain focused on Bitcoin DeFi (BTCFi). BOB works with DeFi protocols to incubate and launch BTC yield products based on native BTC rather than wrapped BTC alternatives. BTC on BOB is intended to serve as a shared trust layer between traditional DeFi protocols and the Bitcoin blockchain.
While the token has done well, some users have voiced concerns over the airdrop.
One farmer known as Usopp said, “After having $7000 in @build_on_bob for 1 year. Got in early in May 24 and have accumulated 10M spices in S1 and S2 – I have also accumulated ~6M spices in S3. So if I am not eligible – Idk who is lmfao.”
