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UMA Project

Boba Network Partners with UMA to create “WAGMI” KPI Options

Tl;dr — Boba Network is launching the first in a series of “WAGMI” KPI options on February 1, 2022. The first iteration of KPI Options will pay out based on the TVL in Boba network.

KPI Options on Boba Network

Boba Network is a Layer 2 Optimistic Rollup for Ethereum scaling.

Boba is a next-generation Ethereum Layer 2 Optimistic Rollup scaling solution that reduces gas fees, improves transaction throughput, and extends the capabilities of smart contracts.

Boba offers fast exits backed by community-driven liquidity pools, shrinking the Optimistic Rollup exit period from seven days to only a few minutes, while giving LPs incentivized yield farming opportunities.

- boba.network

KPI Options are built on top of UMA’s optimistic oracle. They allow anyone to lock ERC20 collateral into a contract and distribute option tokens which are valued based on a target metric. Giving or selling these tokens to target groups means those groups have a vested interest in the outcome of that metric.

Boba’s New Design Experiments

The first epoch will be KPI options designed to incentivize TVL in Boba. This is a generalized goal for the network; we might expect to see increasingly narrow or targeted goals moving forward.

Using Total Locked Value as a KPI is a traditional approach. To pair with this, Boba is introducing new design experiments for deploying KPI options.

Monthly versions

Boba will launch monthly versions of WAGMI options based on the learnings from the previous month. This means that each month, there will be a new KPI target. Boba can respond to changing market needs, especially to attract liquidity and volume as-needed.

Sticky liquidity

Boba plans to offer liquidity mining to earn WAGMI options for epoch n, and the payout will be based on a metric over epoch (n+1). This encourages KPI option farmers to stick around to help achieve the target KPI, as well as to earn options for epoch (n+2).

How To Participate

Bridge some ETH to Boba Network at gateway.boba.network and keep an eye out for WAGMI launch partners in the coming days on Twitter @bobanetwork and the website boba.network.

The Boba and UMA teams will host a twitter spaces AMA event closer to launch. Follow UMA and Boba on Twitter so you don’t miss the announcement.

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Clayton Roche

Clayton Roche

Head of Community Development with UMA