At BOB, we’re committed to providing our ecosystem developers with battle-tested infrastructure that increases the capabilities and reach of our hybrid L2. To reinforce this commitment, we’re adopting Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as the canonical cross-chain infrastructure for tokens native to the BOB network. CCIP will complement BOB’s trust-minimized BitVM bridge to Bitcoin and native bridge to Ethereum, supporting BOB’s mission to position Bitcoin as the backbone of DeFi.
Chainlink has built one of the largest ecosystems in the blockchain industry and is recognized as the standard within capital markets. By integrating with Chainlink’s community and ecosystem, BOB can unlock significant growth and partnership opportunities, helping cement the Hybrid L2 as the home of Bitcoin DeFi and the best place to use Bitcoin liquid staking tokens (LSTs).
“BOB is playing an important role in fueling BTCFi by bringing about cutting-edge innovation on Bitcoin that can support the ecosystem’s continued scalability. CCIP is a natural fit to give developers on BOB the tools they need to build highly secure and feature-rich cross-chain applications. We’re excited to see how they leverage the Chainlink standard.”—Johann Eid, Chief Business Officer, Chainlink Labs
BOB is a new type of Bitcoin-secured blockchain: a Hybrid L2. This unique model merges the strengths of the Bitcoin and Ethereum ecosystems to position Bitcoin as the backbone of DeFi and unlock trillions in liquidity.
Unlocking Secure Cross-Chain Interoperability With CCIP
In order to enhance cross-chain interoperability for our ecosystem, we needed access to a highly secure and reliable interoperability solution. We are adopting Chainlink CCIP because it complements our existing BitVM bridging approach and provides a multitude of important benefits and features, such as:
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Battle-tested security—CCIP’s consensus and interoperability layer is powered by Chainlink decentralized oracle networks, which have already secured tens of billions of dollars for smart contracts and enabled over $18 trillion in onchain transaction value.
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Secure Token Transfers—Cross-Chain Tokens (CCTs) are token logic agnostic, meaning token developers can deploy pre-audited token pool contracts to turn any ERC20-compatible token into a CCT or deploy their own custom token pool contracts for bespoke token use cases. CCTs do not require token developers to inherit any CCIP-specific code within their token’s smart contract. CCTs also benefit from additional security functions in their CCIP token pools, such as configurable rate limits and reliability features such as Smart Execution, which helps ensure reliable transaction execution on the destination chain regardless of blockchain network congestion.
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Arbitrary Messaging—CCIP empowers developers to create cross-chain native applications through the transfer of arbitrary data, encoded as bytes, between smart contracts on different blockchains. Cross-chain messaging enables numerous use cases from cross-chain NFT transfers to cross-chain lending.
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Programmable Token Transfers—CCIP enables the transfer of value (via CCTs) cross-chain along with data instructions informing the receiving smart contract on what to do with those tokens once they arrive on the destination chain. Through Programmable Token Transfers, CCIP can condense a complex set of actions involving multiple users, blockchains, and assets down to a single atomic cross-chain instruction.
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Extendable and future-proof—CCIP is built to be future-proof for developers, where future improvements can continue to be made, including the integration of new blockchain networks, the permissionless onboarding of additional tokens by developers while retaining full ownership of their token contracts, and the incorporation of new battle-tested approaches to security.
“BOB is delivering on its Hybrid L2 roadmap. At the end of 2024, we announced that we will be integrating with Babylon to become a Bitcoin Secured Network, and we successfully tested a prototype BitVM bridge to Bitcoin. The adoption of Chainlink CCIP to the BOB Hybrid L2 is another big step on the journey. This integration of the Chainlink standard not only expands BOB’s capabilities but also aligns us with Chainlink’s extensive ecosystem, accelerating accessibility of Bitcoin DeFi.” said Alexei Zamyatin, BOB co-founder.
About Chainlink
Chainlink is the standard for onchain finance, verifiable data, and cross-chain interoperability. Chainlink is unifying liquidity across global markets and has enabled over $18 trillion in transaction value across the blockchain economy. Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors. Learn more by visiting chain.link.
About BOB
BOB (“Build on Bitcoin”) is a Hybrid Layer-2 blockchain that combines the best of Bitcoin and Ethereum to create the home for Bitcoin DeFi. The unique Hybrid L2 model merges the strengths of both ecosystems—Bitcoin’s security and capital, with Ethereum’s DeFi innovation and versatility. By positioning BTC as the backbone of a new decentralized finance system, BOB can unlock new use cases and trillions in BTC liquidity. BOB uses Babylon Bitcoin staking to inherit security from Bitcoin and BitVM to create trust-minimized bridges to Bitcoin, Ethereum, and other L1s. As a result, the Hybrid L2 does not need to rely on third-party bridges for interoperability, concentrating liquidity around Bitcoin instead of fragmenting it across chains. BOB is backed by leading investors such as Castle Island Ventures, Coinbase Ventures, Ledger Cathay Ventures, and IOSG.