$ZRO
LayerZero announced that the stablecoin USDtb launched by Ethena Labs is now live on four blockchain platforms: Ethereum, Arbitrum, Solana, and Base. LayerZero provides cross-chain support for USDtb.
USDtb has the same characteristics as existing fiat stablecoins such as USDC or USDT, utilizing cash or cash-equivalent reserves to support a 1:1 ratio. This design allows USDtb to maintain a stable exchange rate with the US dollar. The reserves of USDtb are invested in BlackRock's BUIDL (USD Institutional Digital Liquidity Fund), which manages over $500 million in U.S. Treasury bonds.
USDtb leverages LayerZero technology to achieve seamless cross-chain transfers across multiple networks, enhancing its interoperability across different blockchain platforms. The infrastructure of USDtb has undergone extensive audits to ensure its security and compliance. Leading audit firms, including Quantstamp, Cyfrin, and Pashov, completed three comprehensive audits of the core smart contracts of USDtb in October, finding no high or medium-level vulnerabilities. Additionally, a community-driven audit conducted by Code4rena also found no significant issues.
Ethena Labs has partnered with several well-known institutions to support the launch of USDtb, including Copper, Zodia, Komainu, and Coinbase Web3 Wallet, which provide custody solutions, as well as Jump, Cumberland, Wintermute, Amber, GSR, and SCB Limited, which provide liquidity. USDtb is being considered as collateral for margin trading on central exchanges and is being evaluated for allocation to Spark's $1 billion Tokenization Grand Prix.