What is Obol (OBOL)?

What is Obol Network (OBOL)?

Obol Network (OBOL) is a technology project that makes Ethereum staking more secure, more reliable, and more decentralized. It helps groups of people work together to run Ethereum validators, instead of relying on just one person or company. Obol does this using something called Distributed Validator Technology, or DVT.

Instead of one person controlling a validator, Obol splits control among multiple people or computers. These groups work together, using cryptography and special software, to act like a single validator on the Ethereum network. If one person in the group goes offline or makes a mistake, the validator still works fine. This helps make Ethereum stronger and safer for everyone.

Who Created Obol Network (OBOL)?

Obol was founded in 2021 by a team of experienced professionals:

● Collin Myers: He is the CEO and one of the co-founders. Before starting Obol, Collin worked on projects related to Ethereum and has a deep understanding of how blockchain systems work.

● Oisín Kyne: He is the Chief Technology Officer (CTO) and co-founder. Oisín has a background in building complex software systems and brings technical expertise to the team.

● Chris Battenfield: Another co-founder who contributed to the establishment of Obol.

Together, they formed Obol Labs, the company behind the Obol Network, to develop and promote DVT and make Ethereum staking more secure and decentralized.

What VCs Back Obol Network (OBOL)?

Obol has attracted significant investment from well-known venture capital firms. In total, the project has raised approximately $24.9 million over two funding rounds:

● In 2021: Obol raised $6.15 million from investors like Ethereal Ventures and Acrylic Capital Management.

● In 2023: The project secured an additional $18.8 million from investors, including Pantera Capital, Archetype, BlockTower, Nascent, Spartan, Indian Energy Exchange, Coinbase, Consensys, Binance, and Placeholder.

How Obol Network (OBOL) Works

Obol’s system is made of three main parts:

1. Charon – The Middleware

Charon is the software that runs on each participant’s computer. It makes sure everyone works together to run the validator. Here’s how:

● A validator normally needs one person to sign messages (like voting on blocks).

● With Charon, multiple people share control.

● A group of operators (let’s say 4) each hold a piece of the validator’s private key.

● To do any action, at least 3 out of the 4 people must agree and sign.

● This is called a threshold signature. It keeps the validator running, even if one person goes offline.

Charon connects the participants and helps them reach agreement safely and quickly.

2. Obol Splits – The Smart Contract

When the validator earns ETH rewards, where do the funds go?

Obol uses a special Ethereum smart contract called Obol Split. This contract is the “owner” of the validator’s rewards. Here’s what it does:

● It receives all ETH rewards from the validator.

● It then automatically splits the rewards between the validator participants.

● Each participant gets their agreed share (like 25% each for four people).

● No one can steal funds or take more than they should.

This system is trustless—meaning it doesn’t require trust in people, just in the code.

3. DV Launchpad – The Setup Tool

Setting up a distributed validator could be complicated. But Obol makes it easy using the DV Launchpad. This is a simple web tool that helps users create and manage their validator cluster. With DV Launchpad, users can:

● Form a group with other trusted validator operators.

● Share their validator keys using cryptographic tools.

● Generate the validator’s configuration files.

● Register the validator on the Ethereum Beacon Chain.

It’s like a step-by-step wizard that helps you launch a secure, shared validator.

OBOL Goes Live on Bitget

Obol Network is transforming Ethereum staking by making validators more secure, decentralized, and reliable through Distributed Validator Technology. By allowing multiple operators to share responsibility without central control, Obol reduces risks, increases uptime, and fairly distributes rewards. With tools like Charon, Obol Splits, and the DV Launchpad, anyone can safely join the future of collaborative staking.

At the center of this ecosystem is the OBOL token, which powers governance, retroactive funding, and staking rewards. OBOL holders can help shape the future of the protocol, earn passive income through staking, and soon engage in DeFi use cases. As adoption of Obol’s technology grows, so does the potential of its native token.

For those looking to participate early, OBOL is now available for trading on Bitget, providing a gateway to both contribute to and benefit from the Obol Collective’s mission of decentralizing Ethereum infrastructure.

How to Trade OBOL on Bitget

Listing time: May 7, 2025

Step 1: Go to OBOLUSDT spot trading page

Step 2: Enter the amount and the type of order, then click Buy/Sell

Trade OBOL on Bitget now!

OBOL on Bitget Launchpool

There's more! From 7 May 2025, 11:00 – 12 May 2025, 11:00 (UTC), you can grab a share of 1,782,000 OBOL through Bitget Launchpool:

● Activity 1 - BGB Pool:

○ Users can stake at least 5 BGB and grab a share of 1,682,000 OBOL.

● Activity 2 - OBOL Pool:

○ Users can stake at least 10 OBOL to grab a share of 100,000 OBOL.

Lock BGB and OBOL to Get OBOL now!

OBOL on Bitget CandyBomb

OBOL will come to Bitget CandyBomb, the first-of-its-kind tasks-and-airdrop platform by Bitget!

Starting from 7 May 2025, 11:00 –14 May 2025, 11:00 (UTC), you can grab tickets to share 120,000 OBOL simply by completing the given tasks!

All you have to do is to go to Bitget CandyBomb, click on the [Join] button below the corresponding event, and complete any tasks you prefer.

Complete Tasks to Get OBOL now!

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.