You want another L2? You got another L2. Boba Network adds on to the TVL on layer-2 products after a funding of over $1 billion.
that aims to solve many of Ethereum’s biggest pain points while also expanding its smart contract capabilities. Boba’s developers said the funding will go toward expanding internal capacity and investing in ecosystem projects that leverage the expertise of Web3 industry leaders.
While digital asset prices remain well off their previous highs, Ethereum layer-2 networks are gaining significant traction. The total value locked, or TVL, on such networks recently surpassed $7.2 billion, which is a new all-time high, to L2 Beat. The sector’s TVL was less than $1 billion in September 2021. By comparison, the DeFi sector’s TVL has yet to reclaim its all-time high from November.
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