LayerZero Labs has announced that LayerZero is now live on the Base mainnet. It joins the likes of Parallel by being a part of the ecosystem. They will now facilitate the movement of tokens between Base and Ethereum. Projects other than Parallel that are utilizing the potential of LayerZero can also start leveraging the mechanisms of the mainnet.
As for developers, they can extend the utilities of their applications to the LayerZero network. Parallel announced the development on July 14, 2023, informing the community that its Portal goes live on Base, enabling members to move $PRIME between Base and Ethereum. LayerZero comes into the picture as it is the foundational ground for Parallel’s construction of the Portal.
LayerZero is basically an omnichain interoperability protocol. It has been specifically designed for lightweight messages passing across chains. It is tasked with providing message delivery that is guaranteed and authentic, along with configurable trustlessness.
The recent development follows Valio.xyz integration with LayerZero. It is a talent discovery marketplace dedicatedly to traders, now enabled to perform omnichain asset management. The integration benefits traders by allowing them to access a broader spectrum of financial instruments across chains through a single user interface.
As per Valio.xyz, the integration works well for it as the integration gives it a competitive advantage in the market.
Valio benefits from LayerZero by making its decentralized applications seamless across dozens of chains. This includes Aave and Uniswap, among others, who are able to take advantage of omnichain interoperability. What sets LayerZero apart from the competition is cost and complexity. Traditional methods, or partners, present offerings that are complex and involve a higher cost. LayerZero, in comparison, brings those down significantly while also securing the bridge that could be susceptible to severe hacks.
Applications that are built on LayerZero have the facility of depositing the funds at one point and seeing them can spread across all the chains that are supported by LayerZero.
The benefits that Valio was specifically looking for are:-
- Lower gas fees
- New chains with attractive yields
- Access to DeFi protocols, including Ethereum
LayerZero has fulfilled all of it. There is no doubt that LayerZero going live on Base mainnet will change any of that. If anything, the offerings are only expected to get stronger through the mainnet launch.
Building applications on LayerZero opens a world of options where crypto networks can grow. Valio has experienced this, and other partners are in line to experience the future of on-chain asset management.
NFT launchpads are gaining a piece of the momentum too. Omnisea, for one, has integrated with LayerZero ONFT standard into their V2. This gives creators the space to launch their omnichain non-fungible tokens and convert them from a no-code interface to ONFTs. Nine chains supported in the integration include Arbitrum, Ethereum, and zkSync. Omni X is yet another NFT-centered venture to have joined hands with LayerZero ONFT.
LayerZero going live on Base mainnet opens all the possible opportunities for them to explore enhanced and seamless experiences.
Credit: Source link
