BitGo deploys wrapped BTC on Avalanche and BNB Chain

September 11, 2024 Coin Telegraph

BitGo

Crypto custodian BitGo is now using LayerZero’s OFT Standard to deploy its WBTC across more than 80 chains.

Cryptocurrency custody platform BitGo has adopted LayerZero’s Omnichain Fungible Token (OFT) Standard for its Wrapped Bitcoin (WBTC), enabling the asset to operate across multiple blockchain networks.

According to a Sept. 10 announcement, BitGo is deploying WBTC on Avalanche and BNB Chain as part of the rollout, with more chains to be included. Prior to this advanced rollout, WBTC was available on networks such as Ethereum, Base, Tron, and Polygon.

Wrapped Bitcoin (WBTC) is a tokenized version of Bitcoin (BTC) that allows holders to use BTC value in decentralized finance (DeFi) applications for trading, lending, and liquidity. Each WBTC is backed 1:1 by Bitcoin. According to data from CoinGecko, the token's market capitalization was $8.8 billion at the time of writing.

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The Definitive Guide to Tapioca DAO: Part Two

June 30, 2024 Bitcoin.com

bitcoin.com

This piece is the second half of a guest post by Emiri, published originally on Blocmates. Read Part One here. Blocmates is an invaluable crypto news and educational resource that offers clarity in the often complicated and jargon-filled crypto space. Blocmates is especially adept at covering new decentralized finance (defi) projects, which are arguably at […]

Ripple Legal Chief Offers SEC Advice on Reforming Crypto Rules Under New Leadership

Double-Digit Swings Dominate June Crypto Market Performances

June 30, 2024 Bitcoin.com

bitcoin.com

According to market data, crypto assets struggled throughout June, with only a select few recording gains. The largest gainer was the meme coin brett (BRETT), which surged 64.9%, while the biggest loser was the meme token maga (TRUMP), plummeting 55.29%. Select Coins Rise Despite Overall Decline This Month June was predominantly bearish for cryptocurrencies, with […]

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Coinbase, Binance and Other Top Exchanges Roll Out Trading Support for Brand-New ‘Omnichain’ Altcoin

June 22, 2024 The Daily Hodl

Altcoins

Coinbase, Binance and a host of other top crypto exchanges around the world rolled out immediate trading support for a brand new altcoin native to an “omnichain” project. LayerZero bills itself as an omnichain interoperability protocol. The project aims to move data across blockchains and support “censorship-resistant messages and permissionless development through immutable smart contracts.” […]

The post Coinbase, Binance and Other Top Exchanges Roll Out Trading Support for Brand-New ‘Omnichain’ Altcoin appeared first on The Daily Hodl.

Ripple Legal Chief Offers SEC Advice on Reforming Crypto Rules Under New Leadership

Layerzero’s ZRO Token Listed on Major Exchanges, Boosting Cross-Chain Communication Potential

June 21, 2024 Bitcoin.com

Binance

Layerzero’s native token, ZRO, has been listed on several major cryptocurrency exchanges, marking a significant milestone for the cross-chain communication protocol. Binance, Upbit, Okx, Bybit, Gate.io, Bitget, Kucoin, MEXC, and Woo X have all added ZRO to their platforms, offering various trading pairs. Layerzero distinguishes itself with its innovative approach to cross-chain communication, facilitating the […]

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Arbitrum daily revenue surges 16,500% after LayerZero’s ZRO launch

June 21, 2024 Coin Telegraph

Airdrop

LayerZero’s “not an airdrop” ZRO token airdrop has spurred a new peak for Arbitrum’s daily revenue.

LayerZero’s token launch on June 20 caused a massive surge in fees on Arbitrum, leading to a record $3.43 million daily revenue for the blockchain, a bump of around 16,680% compared to ththe day prior.

LayerZero launched the ZRO token on Thursday but triggered criticism over its obligatory “donation” mechanism — which requires claimants to spend a small amount of money per token to nab their allocation.

These mechanics pushed up the average gas fees on the blockchain, which hit 89 cents, up from its typical less-than-1-cent fee.

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ZRO token falls 17% amid controversy over LayerZero’s ‘not an airdrop’

June 21, 2024 Coin Telegraph

Coin Telegraph

After its June 20 launch, ZRO surged 15.15% within just 20 minutes before sharply tumbling 22% as people debated whether the donation mechanism was genius or just an excuse for a “tax.”

Cross-chain interoperability protocol LayerZero’s newly launched token LayerZero (ZRO) fell 17% since its launch amid controversy over its donation criterion for claiming tokens, which some have likened to a “tax.”

Some disagree with the criticism and think the mechanism could be a good step toward solving the issues plaguing recent token airdrops.

Upon its launch on June 20, ZRO surged 15.15% to $4.71 within just 20 minutes before tumbling 22% within two hours, a pattern often seen in token airdrops as claimants dump their newly acquired tokens.

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LayerZero’s ZRO token airdrop with mandatory donations goes live

June 20, 2024 The Crypto Briefing

Crypto Briefing

LayerZero's ZRO token airdrop requires a 10-cent donation per token, with the foundation matching up to $10M. Community reactions are split.

The post LayerZero’s ZRO token airdrop with mandatory donations goes live appeared first on Crypto Briefing.

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TRON network officially supported by LayerZero

May 28, 2024 The Crypto Briefing

Crypto Briefing

TRON joins forces with LayerZero to offer efficient cross-chain interactions, enabling developers to expand their dApps across 70+ networks.

The post TRON network officially supported by LayerZero appeared first on Crypto Briefing.

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LayerZero identifies over 800K addresses in sybil self-reporting phase

May 18, 2024 Coin Telegraph

airdrop farming

Initially, the team identified over two million addresses as potential sybils but later refined their criteria to minimize false identifications, resulting in a more precise classification.

LayerZero Labs has officially announced that the sybil self-reporting phase of its solution to address sybil activity, or “airdrop farming,” is over.

According to LayerZero, addresses that meet the criteria will receive 15% of their anticipated token allocation, while the remaining 85% will be redistributed to eligible users. Following the review, a total of 803,093 addresses were identified as potential sybil addresses, which will not receive the total token allocation.

Initially, the team identified over two million addresses as potential sybils but later refined their criteria to minimize false identifications, resulting in a more precise classification.

layerzero