Boba Network Welcomes Lynx, Enhancing Cross-Chain Perpetuals Trading

On Sep 11, 2024

San Francisco, California, September 11th, 2024, Chainwire

Boba Network, a leading multichain layer-2 scaling solution, integrates Lynx, a cutting-edge Perpetuals Decentralized Exchange (DEX), on Boba Network Ethereum. This partnership marks progress in the decentralized finance (DeFi) landscape, introducing advanced trading solutions and cross-chain functionality to an expanding ecosystem.

In celebration of Lynx’s launch on Boba-Ethereum, Lynx is hosting a trading competition featuring its gasless Perpetuals DEX with the potential for up to 100x leverage. Participants can utilize $BOBA and $USDC as collateral to compete in weekly rounds for a prize pool of 5,000 $BOBA. This competition highlights the advanced capabilities of Lynx on the Boba platform and engages the community in showcasing their trading skills, with new opportunities to win starting each Monday.

Lynx features an intent-based order system that removes gas costs, enabling users to submit signed messages that express their trading intentions. These are processed onchain by a network of bots. Additionally, Lynx offers a white-label solution that allows protocols to integrate its high-leverage trading platform into their systems effortlessly, with Lynx overseeing all technical support and maintenance.

Oren De Lange, Co-founder and CEO of Lynx: “Partnering with Boba Network allows us to provide an omnichain trading experience that removes barriers and lowers costs for our users. This collaboration facilitates seamless interaction with our platform across different blockchains, utilizing Boba’s advanced infrastructure to benefit both our user bases.”

Alan Chiu, Co-founder and CEO of Boba Network, added: “We are pleased to integrate Lynx into Boba Network. This partnership leverages our scaling solutions and enables users on various blockchains to conduct flexible and efficient trading, enhancing the capabilities within the DeFi sector.”

Boba Network remains committed to advancing blockchain technology. Features such as HybridCompute™ technology, a decentralized, verifiable random function (DVRF), and account abstraction continue to enhance the functionality of decentralized applications and affirm Boba Network’s role in supporting the digital economy’s infrastructure.

About Lynx

Lynx is a gasless Perpetuals DEX for trading crypto, forex, and commodity perpetuals using any token as collateral. By eliminating the price volatility risk from the collateral asset, Lynx empowers traders to collateralize any token—from governance tokens to meme coins—as effectively as a stablecoin. Currently, Lynx supports over 23 unique collateral options across 8 chains and is actively onboarding partners to bring new utility to all tokens in the crypto space.

About Boba Network

Boba Network is an optimistic-based multichain layer-2 scaling solution that aims to unlock the potential of roll-up technology and enable more flexible blockchain communication. The protocol is fully compatible with EVM-based tools and has already deployed multichain support for Ethereum, and BNB, supporting lightning-fast transactions and fees anywhere from 40-100X less than the respective layer-1. Boba Network is powered by HybridCompute™ technology that brings the power of Web2 on-chain, with smarter smart contracts that allow visionary developers to leverage off-chain compute and real-world data to build hybrid dapps that connect people to the future of blockchain applications.