.@tether, the biggest stablecoin in this industry ($137B+), launched an omnichain version of USDT - @USDT0_to with @LayerZero_Core .
If LayerZero was just a third-party interop, Tether wouldn't have opted in to LayerZero OFT.
LayerZero allows "Protocol-Aligned Interop," which means the operation and economics can be customized to align with the protocol.
In terms of operational alignment, Tether runs its own DVN - USDT0 DVN - which verifies cross-chain messages before they can be committed for execution.
This is why @OndoFinance also recently chose LayerZero as the main bridge for their tokenβ$USDY. The bridge runs DVNs composed of Ondo DVN, Axelar, Polyhedera zkBridge, and LayerZero DVN.
Cross-chain strategy should now be on the must-do list for most protocols.
Check out this article for more info:
https://t.co/nCqcq0Yn8T
If you're a project wanting to expand your token to @HyperliquidX Native Spot and HyperEVM while having full point-to-point pathway connections to all other chains, def check this out. Very easy to do with the OFT standard.
Huge shoutout to the @monprotocol team in spearheading!
I'm truly excited for @USDT0_to , a great ecosystem project started in collaboration with @LayerZero_Core leveraging their best in class technology for cross-chain bridging.
Today USDT is the most popular digital dollar and stablecoin in the world, with hundreds of millions of users in emerging markets and developing countries.
While competitors focus on the rich crowds (bankers, ...), Tether always prioritizes the unbanked that for a long time struggled to have access to basic financial services and the normal people that live in high-inflation countries and want exposure to the U.S. Dollar.
Continuing in this direction, I believe that USDT0 will help scaling the support of USDT across many more blockchains, pushing the boundaries of interoperability forward.
Your USDT, Anywhere.
Looking forward to seeing the next wave of USDT adoption driven by this collaboration.
There is no asset in the world outside of Bitcoin that has had a more democratizing effect on how the global population interacts with the modern financial system.
Hundreds of millions of users.
Trillions of dollars of economic activity.
Today, USDT accelerates.
have you heard?
LayerZero quants just released an open source database with...
2.28M state updates per second
1M TPS for token transfers
all benchmarked on 10x the entire 2024 Ethereum state.
@arjunnchand agree. re the non-financial apps, yea i think this is where a lot of future innovation can happen as onchain data gets more rich & useful - arbitrary state data is fetched & mapped, some arbitrary compute is done on the mapped data, and app actions invoked. should be interesting
definitely a hot take:
interop application standards (for tokens and general state data passing apps) will be the biggest acceleration of mainstream adoption of crypto - for institutions as well as retail serviced by fintechs
@arjunnchand yeah, it's already happening. buy side and fintechs mainly to further asset distribution and enable channel expansion to secondary markets. sell side, e.g. banks, counterparty settlement between envs - these will take much longer to go to prod due to regs, compliance, etc. imo
You could ask the same thing about Uniswap - why would Uniswap launch on Unichain?
Capture the revenue, create a custom execution environment that makes sense for their use case.
All the users are on Base? Now you need interop between Unichain and Base. All the liquidity on Ethereum? Need interop. Best yield on Bera? Need interop.
Interop is the next interop, and it isn't going anywhere.