LayerZero is a powerful communication method that helps build cross-chain applications. It facilitates highly secure and efficient transfers between Ethereum, Binance Chain, Polygon, Aribtrum and Optimism, making these blockchains more compatible with each other. The project’s launch in September 2021 gained huge attention, and its total value locked is currently over $419 Million.

The LayerZero ecosystem is made up of decentralized applications (Dapps) built on the platform, like Stargate Finance, Radiant Capital and Pontem Network. Stargate is a cross-chain bridge that enables transfers between Ethereum, Binance Chain, Polygon, Aribtrum and Optimism, and handles the highest TVL in the ecosystem. Radiant Capital is a leading lending platform, while Pontem Network is a DeFi hub on Aptos utilizing LayerZero for its DEX, lending portal and NFT marketplace.

The strong momentum of the LayerZero ecosystem can be mainly attributed to growing interest in the native token airdrop of LayerZero. Just one week after the launch on April 2021, LayerZero-powered applications were in the top 7-30 entities across blockchains like Arbitrum, Optimism, Ethereum, Binance Chain and Polygon. A mention of the ZRO token in the source code on Github has sparked guesses of an airdrop to early users.

The current first-mover advantage is helping the LayerZero network build a strong moat in cross-chain applications. The network’s ability to bridge isolated ecosystems, like Aptos, has also been proven and there are a handful of exchanges and lending protocols that are currently utilizing the messaging protocol. With its speedy development, LayerZero appears to be a frontrunner in the crypto landscape.



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