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Build on Bitcoin is a hybrid Bitcoin L2 network built on OP Stack and powered by a merged mining consensus mechanism. It allows developers to build dApps on its network similarly to other EVM chains while offering users a Bitcoin-native level of security.
On March 27th, 2024 the company closed a $10M Seed funding round with CMS Holdings, IOSG Ventures, Mechanism Capital, and some other prominent funds.
Later, on April 15th, 2024, Coinbase Ventures officially joined BOB’s Seed funding round. However, the amount of funds raised and tokens sold remains undisclosed.