In March of this year, LayerZero entered the public eye by completing a round of A+ financing of US$135 million at a valuation of US$1 billion. The leading investors included FTX Ventures, Sequoia Capital and a16z. The TVL of Stargate, its cross-chain bridge, exceeded US$2 billion one week after its launch, and exceeded US$4 billion in less than three weeks after its launch.
Less than two months after the A+ round of financing, LayerZero once again reported that it will raise funds, and the valuation has tripled. This round of financing, which has not yet been officially announced, revealed the fact that LayerZero will issue coins, and also aroused further attention from the market.
In this article, we will take stock of LayerZero-based projects that are currently receiving a lot of attention (recommended reading: " PANews Practical Experience: What are the advantages of Stargate, a cross-chain bridge based on LayerZero? "). Due to the openness of LayerZero, there may be many projects that the author has not paid attention to. Welcome to add.
DeFi
Radiant Capital
Radiant Capital is a LayerZero-based full-chain lending protocol. Users can deposit collateral on the A chain and then lend it on the B chain to integrate the liquidity of multiple chains. At present, the project has launched the v1 version on Arbitrum, which currently only supports the lending of assets on Arbitrum. The project document shows that the v2 version will lend the whole chain of WBTC, ETH, and USDC.
The homepage of the official website shows that the current market size of Radiant Capital is 87.62 million US dollars, and the total borrowings have reached 57.95 million US dollars.
Cashmere Labs
Cashmere Labs aims to be a MEV-resistant DEX aggregator with full-chain interoperability. The current product is not yet online, but according to the official product introduction, Cashmere Labs includes two main products: stable currency transactions and cross-chain DEX aggregators that are resistant to MEV.
Among them, stablecoin transactions improve issues such as slippage and liquidity through unilateral liquidity and incentives for unilateral liquidity; cross-chain DEX aggregators combine LayerZero’s cross-chain interoperability and 1inch’s liquidity, due to arbitrage The attacker cannot obtain the order information during inter-chain messaging, so it cannot carry out front-running transactions, "sandwich attacks" and other MEV-related attacks.
OmniBTC
OmniBTC is a LayerZero-based cross-chain DEX aggregator that supports Ethereum, BNB Chain, Avalanche, and Polygon. The team said it will focus on the new public chains Aptos and Sui in the future.
Taking the exchange of USDT on Ethereum for BNB on BNB Chain as an example, the path provided by OmniBTC is to use Stargate to convert USDT on Ethereum to USDT on BNB Chain, and then use PancakeSwap to trade for BNB.
Rage Trade
Rage Trade is a full-chain Ethereum perpetual contract market, supporting Ethereum, Arbitrum, Avalanche and Fantom. Rage Trade directly deposits ETH-USD LP in DEX, currency markets (such as Aave, Rari, Euler) and derivatives markets (GMX, Ribbon) on supported networks into Rage Trade through the LayerZero-based cross-chain bridge Stargate , and deposit 80% of TVL in revenue-generating services (Curve, GMX, Sushi, etc.), and 20% of TVL provides liquidity for Rage Trade to support users in contract transactions.
InterSwap
InterSwap is a native multi-chain DEX protocol based on LayerZero. Its team stated inPitch Deck that using the LayerZero protocol can realize cross-chain transactions of assets in a single transaction, without the need for traditional cross-chain aggregators to aggregate multiple transactions.
The product is currently in a closed beta phase and has not yet been made public.
Integrate LayerZero's DeFi protocol
SushiXSwap
SushiXSwap is a LayerZero-based full-chain transaction protocol launched by SushiSwap. The supported networks include Optimism, Arbitrum, Fantom, BNB Chain, Polygon and Avalanche. Users can conduct cross-chain transactions between supported networks and assets.
图为使用以太坊上AXS 代币兑换Optimism 上USDCHashflow
The decentralized trading platform Hashflow announced at the end of April the launch of the LayerZero-based Hashflow bridgeless cross-chain exchange service, which adopts the request for quotation (RFQ) model, and the token price is set by professional market makers. Supports token transactions between Ethereum, Avalanche, BNB Chain, Arbitrum, and Polygon.
Angle Protocol
Angle Protocol is a decentralized stablecoin protocol. It announced in August that it would integrate with LayerZero to enable the cross-chain transfer of its euro stablecoin agEUR between Ethereum, Polygon, Optimism and Arbitrum.
NFT
Tiny dino
Tiny dino is a pixel-style dinosaur image NFT based on LayerZero, which adopts the CC0 license model. The floor price of the NFT on OpenSea was 0.059 ETH as of the time of publication, and the transaction volume exceeded 4,000 ETH.
Gh0stly Gh0sts
Gh0stly Gh0sts is the first LayerZero-based NFT project with a ghost theme. When the project was launched in April this year, because it was the first NFT project based on LayerZero, its floor price once exceeded 0.5 ETH. As of the time of publication, its floor price on OpenSea was 0.05 ETH, and the transaction volume exceeded 5,500 ETH.
NFT cross-chain protocol
Parakeet.dao
Parakeet.dao is a LayerZero-based full-chain cross-chain bridge that supports Ethereum, Polygon, Arbitrum, Optimism, BNB Chain, Avalanche, and Fantom. At present, the project is still in the testing stage, and only supports cross-chain transfer of NFT on the above-mentioned network test network. Users can submit applications for cross-chain NFT support.
According to the official website documents, Parakeet.dao also hopes to become an NFT cross-chain aggregator in the future, but has not disclosed the details yet.
Holograph
Holograph is a full-chain NFT protocol launched by CXIP Labs. The Holograph suite will include three initial products: Bridge, Core, and Mint. Bridge allows NFTs to be transferred between Ethereum Virtual Machine (EVM) blockchains. Core is a multi-chain application programming interface (API) for software developers, and Mint is an NFT minting product for creators.
The above three products are still in the beta stage and only support Goerli, Polygon and Avalanche testnets.
Omni X
Omni X is a full-chain NFT platform based on LayerZero. According to official information, Omni X aims to link creators and users, so that users can mint and trade NFT on its supported chains, so as to aggregate users and communities scattered on multiple chains.
Trantor
Trantor is a LayerZero-based NFT cross-chain communication infrastructure that supports NFT cross-chain transfers. Currently only supports the test network of BNB Chain and Polygon, and supports users to cast NFT for cross-chain operation on the test network.
Omnisea
Omnisea is a full-chain NFT Launchpad based on LayerZero and Axelar Network. Creators can issue NFTs that can be cross-chain based on LayerZero on the platform. At the same time, the project has issued the token OSEA, and the locked token can obtain part of the platform income as a reward.
Omnite
Omnite provides a full-chain NFT solution based on LayerZero. Its products have not yet been launched, but developers can use the SDK developed by it to build a full-chain NFT project.
NFTFi
Oswap
Oswap is developed by dLab and based on LayerZero's full-chain NFT DEX protocol, its Alpha test has now ended. Its protocol is similar to sudoswap, but supports LayerZero-based cross-chain transactions.
game
Catddle
Catddle is a Web3 pet game. Its NFT is issued based on LayerZero. As of the time of publication, its floor price on OpenSea is 0.035 ETH, and the transaction volume is 11 ETH. The current game content has not yet been released, but the official documents show that the game is similar to a pet raising game, and will issue tokens MEO and governance tokens CAT for in-game functions, of which the total amount of MEO is unlimited, and the total amount of CAT is 1 billion, of which 5% will be used for airdrops.
Beyond
Beyond is a Web3 universe exploration game. The NFT (planet, etc.) in the game supports LayerZero-based cross-chain functions.
The TON ecosystem is still in its early stages. Although it has great potential, projects in the TON ecosystem may not have enough opportunities for larger funds.
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Cointelegraph