The Telos Foundation shares news of a bridge solution that will allow users to transfer assets and data between any blockchain supported by LayerZero.
According to an October 24 announcement, the joint effort is aimed at improving the scalability, security and usability of blockchain, with which Telos aims to usher in a new era for the industry.
Transfer assets
Using the Telos Bridge, individuals now have the ability to transfer assets between Telos and various blockchain networks, including Ethereum, BSC, Arbitrum, Avalanche and Polygon, with support for emerging chains on the horizon.
1/ Introducing the Telos Bridge, powered by @LayerZero_Labs!
Telos and LayerZero are proud to announce a strategic partnership focused on improving scalability and security while improving ease of use within the blockchain space. pic.twitter.com/Pi3BSXu3D1
— Telos Foundation (@HelloTelos) October 24, 2023
With the introduction of the new endpoint, LayerZero-integrated applications can establish direct interactions with the Telos network. This means developers building applications on other networks supported by LayerZero have the ability to extend their offerings with Telos integration.
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The announcement concludes by inviting users and developers to try out the bridge and explore the related possibilities of this new partnership.
Growth through partnerships
Often recognized for tEVM, one of the fastest Ethereum Virtual Machines currently available, Telos has announced a number of other partnerships this year. Earlier in October, Telos signed a partnership agreement with ApeSwap, a decentralized exchange on BNB to offer users high-yield agricultural products, in addition to an announcement in June of a partnership with GameStop.
At the same time, LayerZero was recently outed due to close ties to the fallen FTX.
Read more: FTX is suing LayerZero Labs to recover $21 million