BOB Stablecoin FAQ
What about $BOB
BOB is currently available on Polygon, Optimism, Arbitrum, BNB Chain and Ethereum. BOB can be acquired in several ways outside of the zkBob application.
- Sent between users to any 0x address on Polygon, Optimism, Arbitrum, BNB or Ethereum.
- Swap tokens for BOB using Metamask.
- Swap using a DEX or DEX aggregator
BOB token inventory is pre-minted and paired with an existing stable token (multi-collateral, for example USDC and BUSD) on decentralized exchanges featuring concentrated liquidity mechanisms (Uniswap v3, Kyberswap). The ability to set a narrow exchange rate range via ticks and provide concentrated liquidity for the pair results in very limited slippage to the stablecoin peg. Learn More.
Called an inventory LP position, this mechanism maintains BOB stability while providing the option for users to purchase BOB inventory.
To enter the circulating supply, BOB must be purchased from the inventory. Users can then create their own LP positions from this purchased BOB, resulting in additional non-inventory LP positions (BOB/WETH, BOB/GNO etc) within the ecosystem.
The easiest way to see stats by chain is through the Uniswap interface. Overviews can also be found on CoinGecko or CoinMarketCap.
Current inventory and circulating supply can be viewed here: https://dune.com/maxaleks/bob-stable-token
For an overview of deposits, transfer volume and withdrawals within zkBob, see the dune analytics dashboard at https://dune.com/maxaleks/zkbob
BOB token contracts start and end with B0B!
BOB contracts on Polygon:
BOB on Ethereum (same addresses):
BOB on Optimism (same addresses):
BOB on BNB:
BOB on Arbitrum
BOB attributes:
- ERC20-based fungible token
- Upgradeable & Mintable (note upgradeability account and minting account must never be the same account)
- Meta-transaction support
- EIP677 support for
transferAndCallfunctionality - Address block list capability (similar to USDC)
- Recovery function(s) for lost/mis-sent tokens
BOB inventory is increased in LP positions currently via a small governance multisig Safe. The goal is to balance inventory supply with demand and usage. Inventory details are described and catalogued here. A larger DAO formation is in the early stages to govern BOB minting, upgradeability and other critical operations moving forward.
No, not through the protocol itself. BOB stablecoin is designed for utility and low fees. The protocol is able to collect revenue through fee collection and idle-capital compounding. These fees can then create a self-sustaining protocol which subsidizes low cost transactions for users. BOB holders can earn fees in other ways such as providing liquidity to non-inventory LP positions on DEXs like Uniswap, Quickswap and Kyberswap.
Last modified 9d ago