TON, a Layer-1 blockchain, partners with LayerZero to enable seamless token transfers across multiple blockchains, including Ethereum, Tron, and Solana. This integration will boost user adoption and transaction fees for both platforms.
TON , a Layer-1 blockchain, has partnered with interoperability protocol LayerZero to enable seamless token transfers across multiple blockchains. This integration will unlock a plethora of benefits for both TON and LayerZero users, fostering increased usage and transaction fees for both platforms. Initially, TON will connect with 12 prominent blockchains, including Ethereum, Tron, and Solana, allowing users to bridge stablecoins and other assets between these ecosystems.
Users can leverage Stargate, the largest crypto bridge, to transfer stablecoins to TON. Stargate boasts a robust transaction volume, processing $1.6 billion worth of transfers in the past month. Furthermore, LayerZero's multichain liquidity will prove invaluable to TON users. This feature aggregates liquidity from various blockchains, mitigating the risk of slippage and transaction failures. Slippage, a common issue in decentralized finance (DeFi), occurs when the price of an asset fluctuates between the initiation and completion of a transaction. With fragmented liquidity across the 4,400+ blockchains and layer-2 networks, large transactions can trigger significant slippage or even outright failure. LayerZero's multichain liquidity addresses this problem by pooling resources, reducing price volatility and ensuring smoother transactions. This is especially crucial in DeFi, where a staggering $117 billion in total value locked (TVL) is distributed across different blockchains.The integration extends to other prominent crypto firms like Tether and Ethena. Ethena's flagship stablecoin, USDe, valued at $5 billion, is set to launch on TON. Tether, renowned for its USDT stablecoin, will introduce its new USDT0 stablecoin, designed to tackle liquidity challenges, through its Legacy Mesh product. USDT0 will be transferable between TON, Tron, Ethereum, Celo, and Arbitrum. Developers will also benefit from this integration, as they can deploy tokens on TON from any of LayerZero's chains using a single contract. This streamlined development process will undoubtedly accelerate innovation within the TON ecosystem. TON, initially conceived as an internal project at messaging app Telegram in 2018, transitioned into an independent entity after Telegram relinquished development in 2020. Telegram recently expressed its support for TON, emphasizing its potential and accessibility to its vast user base of nearly a billion individuals. Bryan Pellegrino, CEO of LayerZero, aptly described TON as 'one of the most exciting ecosystems today,' highlighting its significant growth and future prospects
TON Layerzero Interoperability Blockchain Integration Defi Stablecoins Cross-Chain Transfers Cryptocurrency
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Boba Network Integrates Nucleus to Expand Cross-Chain Functionality and Ecosystem AccessibilityCrypto Blog
Read more »
1inch Network Integrates ZKsync for Faster, Cheaper Cross-Chain Swaps1inch Network, a decentralized exchange (DEX) aggregator, has integrated ZKsync, a layer-2 scaling solution for Ethereum, to enhance its cross-chain swapping capabilities. This integration enables users to execute cross-chain swaps with lower fees and faster transaction speeds compared to Ethereum's main network, leveraging the security of the Ethereum blockchain.
Read more »
Israeli Hostage Held ‘Under Red Cross Offices’ While Red Cross Failed to VisitSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
LayerAI Integrates DeepSeek's AI Models for Enhanced Coding, Learning, and CollaborationLayerAI, a leader in AI and blockchain technology, has partnered with DeepSeek to integrate its advanced models, DeepSeek-V3 and DeepSeek-Coder-V2, into its platform. This collaboration aims to significantly bolster LayerAI's offerings in AI-assisted coding, natural language processing, and interactive learning.
Read more »
Trust Wallet Integrates Etherspot’s ERC-4337 Solutions to Enhance Barz Smart AccountsCrypto Blog
Read more »
Aptos Integrates Native USDC, Bolstering DeFi Ecosystem and Signaling AmbitionsAptos blockchain gains native USDC support, promising improved security, usability, and DeFi prospects. The integration also sees the launch of the Cross-Chain Transfer Protocol (CCTP), aiming to revolutionize blockchain interoperability.
Read more »