Boba Network presents 'Wagmi' options for developers and builders-
Boba Network presents 'Wagmi' options for developers and builders-
Boba Network, an L2 extension layer (layer 2) for Ethereum, has announced the introduction of so-called "Wagmi" options to motivate builders and supporters in the project. The incentive programs are distributed to various projects in the chain and are based on various indicators such as Active Wallets and Project -specific Total Value Locked (TVL).
Wagmi options as an incentive for building on Boba
Boba Network, a L2 solution based on optimism (layer 2) for Ethereum, has announced Incentive program with Wagmi options. According to the BOBA team, these options will be a different solution than those that other chains have previously tried. The team hopes to maintain the dynamics within its network with Wagmi options that depend on network parameters such as Total Value Locked (TVL) or specific project developments.
the Boba team explained:
conventional liquidity mining programs are zero sums: users come to get high rewards and have an incentive to keep these rewards. Wagmi agriculture turns this model upside down by representing a positive sum: Users are encouraged to evangelize and promote behaviors that grow boba.
These options have different versions and are to be taken over by several projects in the coming weeks.
liquidity incentives
Several chains have tried to motivate builder and developers to build apps on their chains. Avalanche, Harmony, Cardano and BSC are just a few of the market participants who have used this technology to increase the activity and bring users into their chains with different results. Boba-Netzwerk is looking for a "positive, sustainable mechanism".
Bobas Mainnet was started in September last year and managed to climb one of the leading L2 networks and reached second place in TVL under this on November 28th, only behind Arbitrum. Since then, however, the network has lost some drive and has fallen back to fourth place, while Loopring and dydx , according to for information at l2beat, an L2 statistics monitor.
The team behind this Initiative indicates that this will be the first time that option farming is implemented in a network and hopes that this initiative could also take a trend for other projects to use options for better distribution of incentives.
What do you think of the Wagmi Incentive program from Boba Network? Tell us in the comment area below.
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