1/23 Game Changer alert.
Imagine having access to liquidity without having to bridge to different chains.
Well you can with @LayerZero_Labs
This is not a airdrop thread but an educational one that can earn you a lot more, if you pay attention.
Thread incoming.
🧵 👇
Imagine having access to liquidity without having to bridge to different chains.
Well you can with @LayerZero_Labs
This is not a airdrop thread but an educational one that can earn you a lot more, if you pay attention.
Thread incoming.
🧵 👇
2/23 LayerZero is interoperable across all chains.
I bet you want to know what interoperability is right?
Well, it is when multiple blockchain systems can 'cross-communicate' or interact with each other and exchange value with zero resistance.
Frictionless....
I bet you want to know what interoperability is right?
Well, it is when multiple blockchain systems can 'cross-communicate' or interact with each other and exchange value with zero resistance.
Frictionless....
3/23 LayerZero allows developers to turn their Decentralized Applications (dApps) into omnichain-applications using a single, simple interface.
For us idiots what that means is that LayerZero is a messaging network built for interoperability.
For us idiots what that means is that LayerZero is a messaging network built for interoperability.
4/23 Founded by crypto royalty @PrimordialAA, @ryanzarick and @caleb_banister who are world class engineers with deep technical expertise. The trio has previously founded startups together and co-published academic research with @polynoamial and Facebook AI Research.
5/23 The team has quickly earned the respect of the crypto community, including @0xMaki, the legendary co-founder of Sushiswap, who recently joined LayerZero Labs.
Crypto royalty indeed...
Crypto royalty indeed...
6/23 LayerZero solves what cross chain bridges have been battling with:
The FIRST is TRUST: how do you verify that a valid transaction on one chain is sent to and reflected on another?
LayerZero’s approach is to split responsibility between a relayer and an oracle;
The FIRST is TRUST: how do you verify that a valid transaction on one chain is sent to and reflected on another?
LayerZero’s approach is to split responsibility between a relayer and an oracle;
7/23 The relayer submits a proof for a transaction,
The oracle is responsible for broadcasting the block header on which the transaction occurs.
This provides proof that a transaction is valid.
The oracle is responsible for broadcasting the block header on which the transaction occurs.
This provides proof that a transaction is valid.
8/23 Neither the relayer or oracle are forming any consensus or validation, they just transmit messages.
All validation is done on the respective source and destination chains.
All validation is done on the respective source and destination chains.
9/23 The speed and throughput constraints are solely dependent on the properties of both transacting chains. This also abstracts away any centralized validation or consensus.
10/23 The SECOND issue that LayerZero solves is bridges aim to solve the Bridging Trilemma. They don't, even though bridges strive to deliver
1. fast finality,
2. shared liquidity across chains, and
3. the ability to use native assets as opposed to their wrapped counterparts.
1. fast finality,
2. shared liquidity across chains, and
3. the ability to use native assets as opposed to their wrapped counterparts.
11/23 Let me repeat this fact, no bridge is able to deliver on all three of the above hence the Trillema.
LayerZero does!
LayerZero does!
12/23 Cross-chain briges are primarily focused on supporting asset bridging.
This is understandable as bridging tokens is arguably the most common use-case. However, there are a world of possibilities that can be unlocked with cross-chain messaging and LayerZero.
This is understandable as bridging tokens is arguably the most common use-case. However, there are a world of possibilities that can be unlocked with cross-chain messaging and LayerZero.
13/23 Shared liquidity across chains is extremely difficult for cross-chain applications to facilitate.
LayerZero connects all chains, whereby users are unaware they are even using it.
It enables current and new dApps to expand beyond the borders of EVM or Non-EVM.
LayerZero connects all chains, whereby users are unaware they are even using it.
It enables current and new dApps to expand beyond the borders of EVM or Non-EVM.
14/23 Multi-chain Money-Market
Bridges confine users to the blockchain their assets are on. If there are better rates on an application on any other chain, or if they would like to deposit their borrowed assets onto a farm on another chain, they must rely on a bridge
Bridges confine users to the blockchain their assets are on. If there are better rates on an application on any other chain, or if they would like to deposit their borrowed assets onto a farm on another chain, they must rely on a bridge
15/23 With LayerZero, users deposit their collateral on their desired application on chain A.
A message is sent to chain B that validates the collateral is in order, and a user can simply borrow native assets on chain B, and deposit those tokens into a farm on chain B.
A message is sent to chain B that validates the collateral is in order, and a user can simply borrow native assets on chain B, and deposit those tokens into a farm on chain B.
16/23 Once the user is finished farming, they can repay the borrowed asset on chain B, and unlock the collateral on chain A.
The user experience is simple and intuitive, all the complexity with multiple swaps, bridging and intermediary tokens are eliminated.
The user experience is simple and intuitive, all the complexity with multiple swaps, bridging and intermediary tokens are eliminated.
17/23 If you are interested in how this all works in further detail then take a look at what @veMattM one of the founders from @tapioca_dao wrote on The Death of Liquidity mining.
mirror.xyz
mirror.xyz
18/23 In case you missed it...
Use cases for LayerZero:
● Inter-chain DEXs
● Cross-chain lending
● Cross-chain state sharing
● Unified liquidity bridging
● Cross-chain governance
● Multi-chain yield aggregators
LayerZero aims to connect every contract on every chain!
Use cases for LayerZero:
● Inter-chain DEXs
● Cross-chain lending
● Cross-chain state sharing
● Unified liquidity bridging
● Cross-chain governance
● Multi-chain yield aggregators
LayerZero aims to connect every contract on every chain!
19/23 Projects that are integrating into LayerZero include
@SushiSwap
@InterSwap_io
@tapioca_dao
@WOOnetwork
For a full list that has been curated on twitter check out
@SushiSwap
@InterSwap_io
@tapioca_dao
@WOOnetwork
For a full list that has been curated on twitter check out
20/23 List of all chains currently deployed on and including Aptos and they will be on Berachain.
Soon they will controil the world!
Soon they will controil the world!
21/23 An important addition is @circle to the LayerZero family. This thread captures succinctly how the flow of this looks like.
22/23 LayerZero sets the foundation for much needed change, from security, ease of dApp deployment and most importantly access to liquidity.
No longer are we restricted by having to move assets multiple times across chains.
We can now do it with one transaction and one gas fee.
No longer are we restricted by having to move assets multiple times across chains.
We can now do it with one transaction and one gas fee.
23/23 Take note of the projects that are deploying.
Go out there and research, who knows, there might be a few pots of gold at the end of some of these rainbows.
If you enjoyed this thread please like the posts and RT.
Much appreciated
blocmates.com
Go out there and research, who knows, there might be a few pots of gold at the end of some of these rainbows.
If you enjoyed this thread please like the posts and RT.
Much appreciated
blocmates.com
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