LayerZero Integration Creates More Opportunity For EVM-Based Institutional Liquidity Inflows to The Hedera Network

We’re proud to announce that Omnichain interoperoperability protocol LayerZero has expanded support to Hedera, further advancing one of The HBAR Foundation’s key priorities of cementing the network’s status as the enterprise-grade network for institutional DeFi.

In a nutshell, this integration connects the Hedera ecosystem to more liquidity sources by providing a new destination on the Hedera network for EVM-based liquidity looking for real-world utility.

Through LayerZero, developers can deploy Omnichain Apps (OApps) natively on Hedera and extend to 70+ other chains, including Solana, Base, Arbitrum, Optimism, BNB Chain, Avalanche, and Polygon.

It’s a significant milestone in the expansion of the Hedera ecosystem’s interoperability that underpins and complements previous infrastructure investments with providers like Copper, Elliptic, and the launch of Hedera Asset Tokenization Studio.

Let’s take a look at some of the benefits for the Hedera ecosystem and dive a little deeper into LayerZero:

HEDERA NETWORK BENEFITS:

• Omnichain Fungible Token (OFT) Interoperability
  LayerZero’s OFT standard provides asset-level interoperability for ERC assets on the  Hedera network, a key challenge and priority for RWA issuance and adoption.
  
  
• DApp Connectivity
  Hedera-based dapps can now directly integrate the LayerZero Hedera endpoint, providing a seamless bridge experience in-app and opening up new opportunities to introduce new users to the Hedera ecosystem.
  
  
• Stargate and hUSDC Liquidity
  The Hedera endpoint also lays the groundwork for Hedera-based assets to be supported on Stargate, the fully composable liquidity transport protocol built on top of LayerZero. In the coming weeks, The HBAR Foundation will present a governance proposal to the Stargate DAO to add native support of the hUSDC asset. 

MORE ABOUT LAYERZERO 

LayerZero is a technology that enables applications to move data across blockchains, supporting permissionless development through immutable smart contracts.

PRINCIPLES

• Censorship-Resistant - The protocol ensures all messages are delivered without selective interference.
  
• Immutable - The underlying technology framework for sending and receiving messages will never change in perpetuity. 
• Permissionless - Anyone can run the required infrastructure to service applications the use the protocol. 

BY THE NUMBERS

• $50B+ value transferred
• 138M+ total messages
• 200+ applications built on LayerZero‍
• 70+ supported blockchains