Boba Governance Foundation announced a significant achievement, securing $70 million from Awaken Foundation and LDA Capital to continue developing Boba Network.
Investment in Boba Network's Development
The $70 million raised will enhance Boba Network’s infrastructure, expand the developer ecosystem, and drive the creation of innovative AI-powered decentralized applications (dApps). Alan Chiu, CEO of Enya Labs, stated:
> "This funding will accelerate the development of the Boba Network ecosystem and attract top talent."
Additionally, David Acutt, director of Boba Governance Foundation, remarked on the potential of Boba Network:
> "This substantial capital commitment is a testament to the transformative potential of Boba Network."
Agreement with FTX Recovery Trust
Boba Governance Foundation has also executed an agreement with FTX Recovery Trust, transferring all BOBA tokens held by the Trust to the Foundation. This agreement, according to Acutt, is a significant milestone for Boba Network as it removes key uncertainties regarding the BOBA token.
About Boba Governance Foundation
Boba Governance Foundation is a non-profit organization dedicated to the growth of Boba Network and promoting the adoption of its technology. Boba Network is a leading Layer-2 blockchain platform for dApps, powered by its unique HybridCompute technology.
The securing of significant investments and the strategic agreement open new opportunities for the development of Boba Network and its ecosystem, confirming confidence in its potential in decentralization and AI technologies.
