BOB is a unique Hybrid Layer 2 that combines Bitcoin’s security with EVM smart contracts. By placing BTC at the heart of DeFi, BOB can unlock new use cases and trillions in liquidity. This makes BOB the ideal home for Bitcoin DeFi - the best and safest place to earn yield on Bitcoin. In October, 2024, BOB became an official Uniswap V3 deployment. This proposal requests a Uniswap Onboarding Package for BOB Network and is brought to the DAO by the Uniswap Growth Program in collaboration with BOB (Build on Bitcoin).
As of today 27 Mar 2025, BOB boasts over $247M of TVL across all of its Dapps, with $42.78M in Uniswap v3 pools, ranking 5th among all UniV3 deployment, before OP mainnet and BSC, nearly three times the TVL of Rootstock.
As BOB has demonstrated its ability to effectively attract users and LPs across both the EVM and Bitcoin space, BOB is looking to further bolster the network's state by allocating incentives to Uniswap pools as the BOB TGE takes place. Our goal is to leverage Uni v3 via Oku as the canonical DEX on the chain.
BOB will therefore commit $500K over the next 6 months, and BOB is requesting Uniswap to match 75% of that ask.
BOB has made it a point to ensure Uniswap sustains its lead as the canonical DEX on the L2, unlike other networks that may prioritize native DEXs.
BOB: The Hybrid L2
Built on the OP Stack, BOB joined the Optimism Superchain in August 2024, and quickly became the 3rd largest Superchain by TVL, only after Base and OP Mainnet. (Defillama)
Integrated with Babylon to become a Bitcoin-Secured Network, bringing Bitcoin finality to the Hybrid L2. (Read more)
BOB acts as a gateway for Bitcoin holders to access EVM-based DeFi opportunities, bringing substantial Bitcoin liquidity to the ecosystem. including highly anticipated and quickly growing BTC LSTs
BOB’s co-founder Alexei is a co-author of the BitVM2’s technical blueprint, which enables secure, Bitcoin-backed bridges to Ethereum and other L1s—offering a trustless alternative to existing multisig BTC bridges.
BOB is positioned to be the main EVM L2 for BTC LSTs and wrapped BTC trading, driving new BTC-native volume to Uniswap.
Direct BTC on/off-ramps from Bitcoin L1 is supported via BOB Gateway, with multi-chain integration in progress (BTC L1 to any EVM), expanding access to BTC liquidity on Uniswap across chains.
Interest in developing BTC-specific hooks designed to optimize trading and liquidity for Bitcoin-based assets on Uniswap.
BOB selected Uniswap as its primary DEX over forks, reinforcing Uniswap’s position as the default venue for BTC trading and solidifying value alignment with the Uniswap DAO.
Uniswap TVL Analysis (Mar 27 2025)
BOB's Uniswap V3 TVL: $43.26M,
Ranking 5th among all chains, before OP mainnet and BSC, nearly three times the TVL of Rootstock.
Ongoing BOB Rise Defi incentive Campaign (OP reward)
BOB Fusion: Ongoing point reward for Uni LPs. Uniswap received the highest point multipliers, resulting in the highest activity and % points distributed in the BOB Fusion points campaign to Uniswap users. An estimated total of 18% of all the points have been distributed to Uniswap users on BOB.
Upcoming incentives: $500k worth of incentives committed for bootstrapping UniV3 pools on BOB, requested to be matched 75% by Uniswap DAO.
To further grow liquidity in BTC, BTC LSTs and other Bitcoin assets on Uniswap on BOB, BOB may allot more incentives for V3 pools later on as well—subject to the findings from previous campaigns.
BOB Rise Campaign
BOB was awarded a 750k OP grant from the Optimism Grants Council in December 2024 to accelerate Bitcoin DeFi adoption within the Superchain. To maximize the impact of this funding, BOB launched BOB Rise, a four-month user incentive program (February – June, 2025) designed to distribute OP rewards strategically across key DeFi protocols in the BOB ecosystem.
Uniswap plays a central role in BOB’s DeFi ecosystem, as a key participant in BOB Rise, Uniswap has maintained its position as the leading protocol by TVL throughout the campaign, with consistent capital efficiency across both incentive tranches.
Uniswap’s Performance in BOB Rise (Feb 26 – Mar 24, 2025):
Total OP Incentives for Uniswap: 197,358 OP
First Tranche Payout: 98,679 OP (distributed in February 2025)
Second Tranche Payout: Scheduled for end of April 2025
Incentivised Pools:
wBTC/USDT
wETH/USDC.e
wBTC/ETH
HybridBTC.pendle/wBTC
Campaign Impact as of March 24, 2025:
Liquidity Growth: TVL increased by $2.57M, from $40.43M to $43M regardless of downward price pressure.
User Engagement: Platform-wide user base grew by 33,149 users (+8.7%) since campaign start.
Incentive Utilization: $25,496 in OP rewards distributed (13,047 by Mar 13, 12,449 by Mar 24)
Fusion is a point-based reward program designed to bootstrap ecosystem growth and deepen user engagement across DeFi verticals.
Structured across three seasons, the campaign rewarded users with BOB Spice points for meaningful on-chain activity in areas such as lending, liquid restaking, and DEXes. Currently there are over 773k users harvesting Spice points via BOB Fusion.
A core design philosophy behind Fusion was to allocate multipliers strategically to amplify incentives for high-impact behaviors. In the final season, BOB introduced specially high multipliers for DEX activity, with Uniswap (via Oku) receiving a 11 to 33x multiplier —the highest of the campaign. This was a deliberate decision to cement Uniswap as a core DEX on BOB, while also positioning BOB as the go-to place for users to trade BTC and BTC-related assets on Uniswap.
This structure was designed to incentivize BTC LST trading on Uniswap and establish BOB as the best place for BTC DeFi.
Upcoming Incentives
BOB is committed to allocating $500K to Uniswap to grow liquidity across strategic pools over the next six months. BOB will work with the Uniswap Growth Program to distribute a mix of native token emissions on BOB, partner rewards from the Babylon ecosystem, contributions from collaborating protocols, and additional OP incentives to boost liquidity and drive adoption. The $500k matching incentives stated above is subject to be materially higher based on rewards from partners like Babylon and OP. Exact amounts will be disclosed at a later date but not yet publicly available.
Uniswap’s Onboarding Package
This proposal requests funding for BOB’s Uniswap onboarding package, which includes user incentives for UniV3 pools, as well as retroactive funding for Oku and Merkl integrations.
The total request amounts to $375k worth of UNI, broken down as follows:
$250k in UNI incentives for six months across key Uniswap markets
No BOB token has been announced but if there would be a BOB token, the suggestion is to also set up the following market:
wBTC/BOB token 15%
Allocation of the incentives subjected to re-evaluation and adjustment based on performance during the incentivised period.
Details on Local Pairs
Lombard BTC (LBTC)
Designed to be the stETH of Bitcoin, LBTC provides holders with a native staking yield via Babylon whilst simultaneously maintaining liquidity, enabling them to move freely through DeFi.
