Bitlayer partnered with LayerZero Labs to improve cross-chain interoperability within its ecosystem.
This partnership will leverage LayerZero’s open-source, immutable messaging protocol. This allows Bitlayer projects to create dApps that communicate seamlessly across more than 90 blockchain networks. Additionally, the integration will allow developers to bridge funds between more than 300 decentralized applications operating within Bitlayer’s ecosystem.
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We’re excited to announce our integration with @LayerZero_Labs!
LayerZero’s open-source, immutable messaging protocol improves cross-chain interoperability by eliminating costs and simplifying bridging. Now integrated with Bitlayer, this collaboration… pic.twitter.com/fLAvrFKBIg
— Bitlayer (@BitlayerLabs) September 27, 2024
LayerZero’s protocol eliminates transaction fees
LayerZero’s messaging protocol eliminates transaction fees associated with cross-chain interactions, simplifying the bridging process between different blockchain platforms. The protocol’s unique design gives Bitlayer developers more control over the security of their applications, allowing them to send arbitrary messages over chains without compromising their security frameworks.
By integrating LayerZero, Bitlayer will further enhance the full Ethereum Virtual Machine (EVM) compatibility of its ecosystem, making it easier for developers to design and deploy applications that communicate and function seamlessly across multiple blockchains.
Also Read: LayerZero Redistributes Unclaimed ZRO Tokens and Rewards Active Users
LayerZero has quickly become essential for cross-chain connections and has grown into a leading decentralized messaging and communications solution. As of Q2 2024, LayerZero has facilitated more than 137 million messages across 90 different blockchain networks.
The protocol has supported more than $5.0 billion in crypto asset transfers, with more than 200 decentralized applications using the messaging system for cross-chain interactions.
Defi.money uses LayerZero for improved functionality
In addition to the partnership with Bitlayer, LayerZero has also integrated with the DeFi protocol defi.money. This integration allows defi.money’s native stablecoin, MONEY, to function as an omnichain fungible token (OFT), enabling cross-chain liquidity and seamless token transfers between supported networks.
@defidotmoney, a chain-agnostic stablecoin protocol, has integrated LayerZero as its official interoperability solution.
With this integration, the protocol’s stablecoin $MONEY has implemented the OFT standard, making @defidotmoney a native omnichain CDP protocol!
For more… https://t.co/FBW1GSf1Jc
— LayerZero (@LayerZero_Core) September 26, 2024
The OFT standard allows users to send, receive, and stake assets across blockchains, creating a native omnichain environment for defi.money.
The defi.money team noted that LayerZero’s secure messaging protocol will be crucial in ensuring that defi.money retains full control over the MONEY contract, eliminating third-party risk.
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