Proposal to Whitelist Boba Network (BOBA) with 50,000 BNT co-investment
For this proposal to pass, it requires 35% quorum and 66.7% supermajority.
This proposal is expected to appear on Snapshot for voting on 2021-12-19T17:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.
TL;DR
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Proposal to whitelist BOBA,
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Co-investment of 50,000 BNT.
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There are no security concerns that could prohibit whitelist status.
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There is no reason to doubt the legitimacy of Boba Network. The project was developed by OMG Foundation core contributor Enya and has partnered with Dodo, Coin98, API3, Synapse, BAND Protocol and Anyswap.
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The token was launched on the 20th of September of 2021 and therefore poses a higher impermanent loss protection risk as volatility is expected to be higher than other established tokens.
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The benefit to Bancor is clear. Providing BOBA liquidity will attract token LPs from the Boba community to swap on Bancor, and increase protocol trade volume.
Token Address: 0x42bbfa2e77757c645eeaad1655e0911a7553efbc
Project Website: Boba Network
Liquidity
The Deepest BOBA pools are:
The BOBA/WETH DODO pool with $191,176.12 liquidity and a 7 day average APY of 12.99% [1].
The BOBA/WETH DODO pool with $188,468.93 liquidity and a 7 day average APY of 9.95% [2].
A co-investment of 50,000BNT opens up space for at least $332k of liquidity in the pool, with BNT at $3.32. If the pool fills up, it would be the deepest in any DEX.
Token Security
BOBA does not have an elastic supply, or rebase mechanism. The BOBA token has a max supply cap of 500,000,000 BOBA. Contracts are standard ERC-20 OpenZeppelin contracts. The contracts don’t have any permissions that grant administrators unrestricted mint/burn capabilities.
The top 15 contract and addresses with the highest concentration of BOBA are the Boba Network Deployer and OMG Gateway, FTX, Binance, Huobi, OKEx, team wallets, and wallets with 0.8000%, 0.3956%, 0.2928%, 0.2310%, and 0.1938% of total supply.
Figure 1 - Top 15 contract and address with the highest concentration of BOBA [3]
Project
Boba is an L2 Ethereum scaling & augmenting solution built by the Enya team as core contributors to the OMG Foundation. Boba is a next-generation Ethereum Layer 2 Optimistic Rollup scaling solution that reduces gas fees, improves transaction throughput, and extends the capabilities of smart contracts. Boba offers fast exits backed by community-driven liquidity pools, shrinking the Optimistic Rollup exit period from seven days to only a few minutes, while giving LPs incentivized yield farming opportunities.
Boba’s extensible smart contracts will enable developers across the Ethereum ecosystem to build dApps that invoke code executed on web-scale infrastructure such as AWS Lambda, making it possible to use algorithms that are either too expensive or impossible to execute on-chain.
Tokenomics
$BOBA will be used for governance of the Boba DAO, which will be used for community initiatives and direction for the network’s future. Each $BOBA holder will get one vote for every token that they stake on Boba Network. Token holders will be eligible to submit proposals, vote, and delegate votes for proposals on the DAO in accordance with the governance guidelines.
Community and Communication
Boba Network is active on Telegram and Discord. The Boba Network team also operates an official Twitter account.
Available Audits
No audits are available yet.
Market and Trading Data
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BOBA’s price at the time of writing is $3.68.
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All-time high: $7.93 (25th Nov, 2021).
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All-time low: $0.998874 (19th Nov, 2021).
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Price 90 days ago: N/A.
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155,003,271 BOBA in circulation, with a maximum and total supply of 500,000,000 BOBA.
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The current market capitalization is $569,852,025.
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The BOBA token is available on, among others, Binance, FTX, Gate.io, Bitfinex, Bybit, Woo Network.
[1] DVM | 0x02b7db0b68c4c0f005e31cd27e17e39540a45b32