LayerZero Labs has announced that it is now live on Astar Substrate, an extended branch of Astar Network. The L1 blockchain is known to support not only EVM environments, but also Wasm environments. Additionally, it has introduced the Build2Earn program for developers who choose to build on Astar.
Additionally, LayerZero supports collaboration with a Bug Bounty program with rewards up to $15 million. The goal for users in this context is to identify potential areas for security improvements and other forms of improvement.
LayerZero has so far distributed approximately $1 million to white hats who have participated in the Bug Bounty program. Going forward, LayerZero is working to merge its previously operating $2 million bounty program with expanded scope.
The integration of LayerZero and Astar Network has paved the way for developers to leverage omnichain functionality between Astar and more than 49 different chains, with optional LayerZero endpoints.
Astar Network mentioned this just a start, indicating that there are plans to further develop the association in the coming days. The community has responded positively to this development, with most members saying that Astar is indeed a promising project. Members are hopeful that LayerZero will make up for slow development with its recent partnership.
LayerZero is fresh off the introduction of ColorTrace, defined as a practical implementation of colored coin problems. Additionally, LayerZero now supports seamless movement of CAKE via OFT Standard, while members can cast their votes anywhere via the new cross-chain meters.
Astar Network now has its eyes set on implementing Tokenomics 2.0. The process is ongoing, with two benefits for developers and users. These include a reduction in developer fees and a reduction in dApps’ fees for their users at the time non-fungible tokens (NFTs) are created.
The results of each development are visible in the increase in ASTR’s trading value. The native token is up 5.36% over the past 24 hours at the time of publishing this piece. ASTR is now exchanging hands at $0.06531. However, this is a decline of 5.80% in the last 7 days. Nevertheless, the coin could recover in the next 30 days in the same way as the last 30 days, with an increase of 54.15%.
Astar Network is simultaneously celebrating a milestone in which 43% of the chain’s circulation supply is deployed with dApp staking. This roughly equates to 21,000 community members supporting the efforts of the team of gamers, developers and NFT artists, among others. Another milestone that Astar Network recently achieved is housing 10,000 wallets on the platform. The next goal is to surpass 20,000 wallets, with no definitive timeline announced at this time.
LayerZero and Astar Network are a perfect fit for Astar Substrate integration, especially since the goal is to increase omnichain functionality between Astar and over 40 other blockchains with LayerZero endpoints.
