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Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit

As Crypto Categories Reshuffle, Will LayerZero Start the Next Crypto Boom?

NewsBTC by NewsBTC
2 months ago
in Company News
Reading Time: 3 mins read
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Recently, the crypto market has been exceptionally active, with Bitcoin and Ethereum leading the charge and altcoins following suit. In particular, LSD tokens have even recorded a 24-hour growth of 120%. Further, as DeFi once again becomes active, Radiant Capital, an omnichain lending project, has captured the attention of many users.

Meanwhile, there are rumors that Arbitrum, which is deployed by Radiant Capital, will soon issue coins. As a result, many users choose to directly interact with Radiant for a double-win. In addition to Arbitrum, LayerZero, the No.1 cross-chain project, is also behind Radiant. Now that the crypto categories have started to reshuffle, let’s talk about LayerZero.

LayerZero raised nearly $200 million through two financing rounds in September 2021 and March 2022. The first Series A financing was led by Binance Labs and Multicoin, while the second Series A+ financing involved FTX, SBF, Sequoia Capital, a16z, Uniswap, and Coinbase, which demonstrates the extensive recognition it earned among crypto institutions.

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Simply put, LayerZero consists of three components: endpoints, oracles, and relays. In particular, an endpoint is split into communicators, validators, networks, and libraries. Upon the occurrence of cross-chain transactions, the relevant information will be transmitted between endpoints through oracles and relays. Retail investors may capture more opportunities within the LayerZero ecosystem.

  1. Synthr

Synthr is a cross-chain synthetic asset protocol based on the design of LayerZero. With the project, users can freely trade assets within the Synthr ecosystems and can mint and trade synthetic assets on the chain. According to public information, Synthr is now being deployed and built on chains including Ethereum, Aptos, Sui Network, and Sei Network, but overall, the project remains in its infancy.

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  1. Stargate

Stargate, a cross-chain liquidity protocol, is widely regarded as a cross-chain version of CRV. The project now allows users to transfer cryptos across chains that include Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism, and Fantom. Moreover, upon closer look, we noticed that Stargate’s ambition goes beyond serving retail users: it also aims to evolve into a cross-chain asset transfer service provider for corporations.

  1. Hashflow

After Binance Launchpad, the Hashflow price has not been particularly impressive. That said, as the market recovers, it also recorded decent growth. As a cross-chain decentralized exchange featuring zero slippage and protected by MEV, Hashflow is now available on six chains, spanning Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, and Optimism.

  1. Radiant Capital

Recently, RDNT, Radiant Capital’s native token, has skyrocketed and become a trending DeFi project. Based on LayerZero/Stargate, Radiant is a multi-chain lending project deployed on the Arbitrum network. Radiant now supports the collateralized lending of six cryptos, respectively RDNT, USDC, DAI, USDT, ETH, and WBTC.

  1. SushiXSwap

SushiXSwap is a cross-chain decentralized trading platform launched by SushiSwap, but unlike Hashflow, the project fully leverages AMM in cross-chain transactions and now supports seven chains, i.e. Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism, and Fantom.

Apart from the ones we mentioned, there are many more interesting projects, such as InterSwap, a fully composable native asset cross-chain AMM protocol, Cashmere Labs, an omnichain interoperability DEX aggregator that’s resistant to MEV, and many others. As the crypto market shifts from Web2 to Web3, everything will become more open and inclusive, and LayerZero’s modular structure and omnichain model will definitely create more possibilities for the development of Web3.

Speaking of which, we’ll have to mention CoinEx, the first CEX to launch AMM service. As a long-established exchange running for over five years, CoinEx has always put users first. In 2022, the platform introduced new products including Swap and CoinEx Dock to provide more diversified financial services and help users identify more innovations and possibilities in the crypto market. Beyond that, through rigorous internal reviews, CoinEx offers 600+ premium cryptos and 1,000+ trading pairs for over 4 million users across more than 200 countries and regions worldwide, meeting the demand of most users.

While helping existing crypto investors, CoinEx also strives to break free from traditional financial shackles and make crypto trading easier. The exchange hopes to impress global users with the innovation and progress of crypto as a major gateway to the crypto world. We are all witnesses to great changes unseen in a century, and only by seizing the opportunities can we build a brighter future.

Disclaimer: No investment advice is provided in this article, and all data mentioned herein are for reference only. You should not rely on the information provided herein to make any investment decision, and you will be fully liable for your own investment decisions.

 

 

 

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