LayerZero has been making big moves in the crypto space. In a partnership with Tether, they launched the cross-chain stablecoin
USDT0, expanding USDT utility on the Ink Blockchain. Notably, they have enabled PayPal USD stablecoin transfers between Ethereum and Solana, demonstrating their innovative cross-chain capabilities. The CEO confirmed that a 'Big Sybil hunt' and durable users contributed to their successful airdrop. In a technical advancement, LayerZero unveiled a high-performance database optimized for blockchain data, emphasizing their commitment to innovation.
LayerZero was also selected as the interoperability provider for BitGo’s WBTC and Uniswap’s Unichain and has garnered attention for expanding USDT transfers with OFT Standard Integration. Despite these achievements, LayerZero's price dropped by 14% following a rejection at Triangle Resistance, which worth monitoring.
There were hiccups such as Stargate outage caused by DVN malfunction, but the company moved on and expanded its features, including making LayerZero eligible for the upcoming token airdrop. The company also tackled a surge of 433% in activity after announcing a second airdrop. However, controversial decisions like asking eligible users to pay 10 cents per ZRO to claim airdrop have raised eyebrows.
LayerZero continues to develop and expand, recently integrating with Solana for its cross-chain bridge network and Eigen Labs to boost cross-chain security. Despite challenges and limitations, LayerZero has potential for growth, making it an exciting player in the crypto world.
LayerZero News Analytics from Thu, 22 Feb 2024 08:00:00 GMT to Sat, 18 Jan 2025 06:30:00 GMT -
Rating 6
- Innovation 8
- Information 8
- Rumor 4
