What is the issuance price of BOB (ETH) coins?

The issuance price of BOB (ETH) coins was initially set at $0.0085 during their public sale held in September 2022.

Dec 04, 2024 at 12:37 pm

What is the Issuance Price of BOB (ETH) Coins?

Introduction:

BOB (ETH) coins are a cryptocurrency token built on the Ethereum blockchain. They are designed to facilitate secure and transparent transactions within the Boba Network, a Layer-2 scaling solution that aims to address scalability and cost inefficiencies prevalent on the Ethereum mainnet. Boba Network employs Optimistic Rollup technology, where transactions are bundled and processed off-chain, drastically reducing gas fees and significantly enhancing transaction throughput.

Issuance Price of BOB (ETH) Coins:

The issuance price of BOB (ETH) coins was initially set at $0.0085 during their public sale, which took place in September 2022.

Additional Information:

1. Token Sale Details: The BOB (ETH) token sale was conducted through a Dutch auction mechanism, where the price of the tokens gradually decreased over time until all tokens were sold.

2. Token Distribution: A total of 500 million BOB (ETH) tokens were created, with the following distribution:

   • Public Sale: 30% (150 million tokens)
   • Team and Advisors: 21% (105 million tokens, vested over three years)
   • Ecosystem Development: 15.5% (77.5 million tokens)
   • Seed and Strategic Partners: 12.5% (62.5 million tokens, vested over three years)
   • Liquidity Provision: 10.5% (52.5 million tokens)
   • Foundation and Legal Expenses: 7% (35 million tokens)
   • Marketing and Community: 3.5% (17.5 million tokens)

3. Token Utility: BOB (ETH) coins serve various purposes within the Boba Network:

   • Gas Token: BOB is used to pay for gas fees associated with transactions on the Boba Network.
   • Governance: BOB holders can participate in the governance of the Boba Network by voting on proposals related to the protocol, ecosystem development, and fee structure.
   • Network Participation: Validators and delegators who contribute to the security and operation of the network are rewarded with BOB tokens.
   • Ecosystem Growth: A portion of BOB tokens is allocated to support ecosystem development, incentivizing developers to build applications and services on the Boba Network.
4. Current Trading Price: The current trading price of BOB (ETH) coins may vary depending on market conditions and can be found on reputable cryptocurrency exchanges that support the token.