“Crypto bridge protocol LayerZero is set to expand to the Solana blockchain on Wednesday, adding another way to transfer crypto assets between the Ethereum world and its single largest rival. 🚀

Crypto holders on Solana will be able to move their assets to Arbitrum, Ethereum, Polygon, and the 70 other chains it connects to – and vice versa. Layer Zero Labs, the company that developed the bridge protocol, said this. 🌉

LayerZero is a messaging platform between blockchains that do not inherently communicate with each other: in the first quarter of 2024, its users moved $6.7 billion worth of cryptocurrencies and generated $11.5 million in revenue, as noted by Messari's research unit. 💰

Private venture investors valued LayerZero Labs at $3 billion in a major financing round announced in April. The protocol is expected to issue its own token soon. 🎉

Solana's native token, $SOL, is the fifth-largest cryptocurrency by market cap, according to CoinGecko, and has three other major bridge protocols connecting it to the Ethereum ecosystem, most notably Wormhole. 🪐

I welcome your comments, what do you think LayerZero's expansion to Solana means? What do you think about DeFi and Web 3.0?#DeFi#Web3#LayerZero#Solana"