Cryptocurrency News

BobaBNB Achieves Over 3 Million Transactions in May, Propelled by ROVI Network’s Growth

By June 29, 2023 No Comments

Key Highlights

  • Multichain Layer-2 solution, BobaBNB has achieved a significant milestone by processing a record-breaking 3M transactions in May, fueled by the incredible popularity of ROVI Network.
  • BobaBNB’s capacity to save users an average of 80% on gas fees, coupled with its near real-time transaction processing, has positioned it as the first non-Ethereum ecosystem Layer-2 solution to generate substantial financial success.

A leading multichain Layer-2 solution, Boba Network has made headlines with its BobaBNB platform setting a new transaction record in May. The network is also the primary active L2 on the BNB Chain.

The network announced in an official release today, that BobaBNB has successfully processed an unprecedented 3,073,042 transactions, surpassing the previous month’s 2,863,240 transactions and March’s 585,818 transactions.

As such, BobaBNB has not only surpassed previous records but has also brought substantial revenue gains for the platform. Moreso, while its user base has grown to seeing over 80,000 individual wallets on BobaBNB, the network now supports an average of 220,000 daily transactions. Apparently, the surge in transaction volume, driven by the ever-increasing popularity of ROVI Network, represents a significant milestone for both platforms.

Boba Serves as a Great Fit for ROVI Network, Fueling Each Other’s Growth

The announcement revealed that the exponential surge in BobaBNB transactions can be attributed to the exceptional popularity of ROVI Network, a Web3 infrastructure protocol dedicated to expanding cryptocurrency adoption among the masses. Since its launch on BobaBNB just six weeks ago, ROVI Network has emerged as the network’s leading decentralized application (dApp), boasting over 50,000 wallets and an impressive monthly transaction rate of over 3 million. Hence, the financial success achieved by BobaBNB in May signifies a significant breakthrough for both Boba Network and ROVI Network.

ROVI Network has become the leading dApp on BobaBNB within just six weeks of its launch. With over 50,000 wallets and a monthly transaction rate exceeding 3 million, ROVI Network’s presence on BobaBNB has played a pivotal role in driving the transaction surge. Furthermore, ROVI Network’s comprehensive suite of products, including the M91 Crypto Super App, Keyboard91, and Gaming91, has resonated with users seeking simplified crypto experiences and rewarding gameplay.

Furthermore, the exponential growth of ROVI Network on BobaBNB can be attributed to the platform’s ability to save users an average of 80% on gas fees while ensuring near real-time transaction processing. Thus, BobaBNB’s capacity to handle such significant transaction volumes positions it as the first non-Ethereum ecosystem L2 solution to generate substantial financial gains.

It is interesting to note that the achievement of over three million transactions in May by BobaBNB represents a groundbreaking milestone, surpassing the previous record of 2,863,240 transactions in a single month. This milestone not only showcases the growing interest of Web3 developers but also underscores BobaBNB’s capability to empower advanced dApp and game development while leveraging the strengths of the BNB Chain.

BobaBNB’s position as the exclusive layer-2 scaling solution on the BNB Chain provides developers with the tools to scale their EVM-compatible dApps efficiently, benefiting from accelerated transaction processing capabilities and significantly reduced fees. Leveraging Boba’s Hybrid Compute technology, developers can further enrich user experiences by incorporating real-world data and off-chain computing resources into their smart contracts.

In addition to ROVI Network’s contribution, the popularity of the multiplayer Web3 city builder game, MegaWorld, which incorporates real economics powered by smart contracts, has also played a significant role in driving the increased transaction volume on BobaBNB. Nonetheless, the core contributors of Boba Network expressed their enthusiasm for the platform’s impressive traction, highlighting the revenue-generating potential of each transaction. As the sole multichain L2 solution, Boba Network’s deployment of a multichain strategy has set the stage for its continued support in expanding the BobaBNB ecosystem.