Boba Network to Launch an L2 Solution on Avalanche Network
Main page Technologies, Blockchain

Boba Network has just announced it intends to launch a layer 2 scaling solution on the Avalanche network.

According to project representatives, developers will have access to Hybrid Compute and Boba's own NFTs bridge, which will provide a "smooth transfer" of non-fungible tokens between L1 and L2.

Luigi D'Onorio DeMeo, director of DeFi at Ava Labs, has said:

"By deploying on additional chains, Boba breaks new ground and brings Avalanche its first L2, equipping our talented developers with yet another way to make dApps cheaper, faster and scalable."

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According to the release, Avalanche's implementation of the solution includes P2E project EvoVerses as a dApps launch partner.

Boba Network developers raised $45 million in April and the company reached a valuation of $1.5 billion.

The company's total value locked currently stands at $28.63 million.

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