What is #Layerzero ?

LayerZero is a revolutionary communication protocol that empowers direct, cross-chain transactions between various blockchain networks.

It offers a new way of interaction across chains, eliminating the requirement for intermediaries to facilitate the process.

By adopting LayerZero, the essence of trustlessness, the fundamental principle behind the creation of blockchains, remains intact.

The protocol includes a lightweight on-chain client called the LayerZero Endpoint, which can be supported by every chain.

This configuration establishes a fully connected network, enabling nodes to establish direct connections with each other.

Consequently, cross-chain transactions can be conducted seamlessly with any other chain on the network.

The potential applications of LayerZero are extensive.

They encompass cross-chain decentralized exchanges, multi-chain yield aggregators, and cross-chain lending.

Users gain the freedom to transfer liquidity across blockchains without relying on third-party systems.

This fosters the creation of a single #liquidity pool that can participate in multiple decentralized finance (DeFi) applications across various chains and ecosystems.

To put it simply, LayerZero serves as a universal translator for distinct blockchains, facilitating the exchange of assets and the utilization of different applications across multiple blockchain networks.

Currently, LayerZero connects over 30 mainnet blockchains.

Prominent decentralized exchanges such as PancakeSwap, SushiSwap, Trader Joe, and Uniswap rely on the protocol, processing transactions worth over $6 billion and securing a total value of locked assets exceeding $7 billion.

Unlocking Seamless Communication and #Cross-Chain Transactions

In the ever-expanding world of blockchain technology, interoperability stands as a significant challenge.

Most blockchains operate in isolation, hindering the transfer of data, assets, and information between them.

As the number of blockchains continues to rise, the need for communication and transactions between them becomes increasingly crucial.

This is where LayerZero comes into the picture.

LayerZero represents a cutting-edge interoperability protocol that facilitates seamless communication between blockchains while maintaining security and decentralization.

This comprehensive guide delves into the intricacies of LayerZero, exploring its functionality, key features, and advantages and disadvantages.

So let’s embark on this journey to understand LayerZero in-depth.

Read more at: https://perseuscrypto.com/layerzero/what-is-layerzero-transforming-interoperability-in-blockchain/

Well, let's start by saying, you shouldn't hunt airdrops. Be airdrop-hunted.

This short article is intended for newcomers who are just entering the Web3 space and seeking airdrop opportunities. I frequently receive messages from these individuals, inquiring about how to initiate their journey on Layerzero, and I hope this article can assist them.

Firstly, let's establish that you shouldn't actively seek airdrops. Instead, position yourself to be discovered for airdrops.

Your primary objective when engaging with a new blockchain infrastructure or innovation is to explore it, as learning is both the process and the ultimate reward.

This way, you cannot lose, and if an airdrop does occur, it will merely serve as an additional motivational bonus.

By deliberately exploring Layerzero, for instance, you will enhance your positioning for a potential $ZRO airdrop and any other forthcoming airdrops. This will ultimately contribute to your proficiency in blockchain exploration.

How To Start?

Firstly, it's essential to establish that Layerzero functions as a bridge infrastructure, enhancing the overall cross-chain bridging experience. This signifies that to engage with Layerzero, you'll need to transfer funds (tokens) between different chains through dapps that are supported by the Layerzero platform.

So, identify dapps that are powered by Layerzero and begin interacting with them.

As you delve into Layerzero, begin your exploration by visiting their official website or Twitter page. Look for dapps that they have showcased, with special attention to those that have been consistently featured, such as Stargate.

As you grow more acquainted with the Layerzero ecosystem, focus on grasping the overall narrative and core vision. This will aid you in discerning the types of Layerzero activities that the creators are more likely to encourage. Essentially, strive to delve into the minds of the Layerzero founders to comprehend their comprehensive vision and aspirations.

While Layerzero serves as a distinctive bridge infrastructure, introducing a more streamlined approach to cross-chain bridging, it's important not to overlook its perhaps broader objective of unveiling innovative advancements. Notably, it aims to introduce new and unique token variants, specifically OFT (omnichain fungible tokens) and ONFT (omnichain non-fungible tokens).

Indeed, depending solely on generating volume across various chains and engaging with a diverse range of Layerzero-powered dapps like Stargate, Aptos Bridge, and PancakeSwap might prove inadequate. It's crucial to also explore dapps such as Merkly, which provides the capability to mint and bridge OFTs and ONFTs.

Remember Aptos? Even after conducting hundreds of testnet transactions, the eligibility criteria remained centered around minting a specific NFT. In my perspective, this choice was driven by the intention to highlight their blockchain's distinctive value proposition, setting it apart from other chains. This differentiation wasn't solely attributed to blockchain speed; rather, it emphasized the inherent capacity of their chain to empower developers in crafting advanced generative NFTs with potential features like on-chain royalty sharing and more.

Contrary to the prevailing notion of "generate large volume," it's crucial not to lose hope if you find yourself with limited capital. In cases of financial constraints, channel your efforts towards active involvement with a wider array of dapps on Layerzero, utilizing your available resources judiciously. Alternatively, you can pay special attention to exploring dapps like L2Marathon, Merkly, and HoloGraph, which showcase OFTs and ONFTs, to their maximum potential and while uncovering their innerworkings and prospective use

When bridging via the aforementioned dapps, try to be strategic in your approach to position yourself for other airdrops besides Layerzero's. For instance, if you know that Arbitrum Nova, Zksync Era, Zksync Lite, Base, Zora and Linea are tokenless chains, incorporate them into your bridging routes.

Lastly, consider exploring Telegram bots even if you're unable or choose not to use them actively. These bots can provide valuable insights into distinctive bridging routes curated by experienced airdrop hunters, contributing to enhancing your expertise and knowledge.

The Airdrop Secret They Don't Want You To Know.

In conclusion, avoid adopting the role of an airdrop hunter. Instead, approach these blockchain networks as platforms for growth and education. Study the ongoing developments, delve into the thought processes behind them, gain deeper insights into the individuals who utilize these chains, and subsequently embark on building your own projects while overseeing the administration of airdrops. The moment for action has arrived!

There are a few things you can do to become eligible for the LayerZero airdrop:

Hold or stake STG on Stargate. STG is the native token of Stargate, which is a LayerZero-based bridge that allows users to transfer assets between different blockchains. You can get STG from Binance or other exchanges.

Use the LayerZero bridge. The LayerZero bridge allows users to transfer assets between different blockchains without having to go through a central exchange. You can use the bridge to transfer assets between Ethereum, Solana, and other supported blockchains.

Use LayerZero dApps. There are a number of dApps that are built on top of LayerZero. Using these dApps will help you to show your support for the LayerZero ecosystem and increase your chances of being eligible for the airdrop.

Be active in the LayerZero community. You can increase your chances of being eligible for the airdrop by being active in the LayerZero community. This includes participating in discussions on social media, contributing to the development of LayerZero, and helping to onboard new users.

The LayerZero team has not yet announced the details of the airdrop, such as the eligibility criteria or the number of tokens that will be distributed. However, by following the steps above, you can increase your chances of being eligible for the airdrop.

Here are some additional things to keep in mind:

The airdrop is not guaranteed. Even if you meet all of the eligibility criteria, there is no guarantee that you will receive any tokens.

The airdrop is subject to change. The LayerZero team may change the eligibility criteria or the number of tokens that will be distributed at any time.

The airdrop is taxable. If you receive any tokens from the airdrop, you will likely be required to pay taxes on them.

It is important to do your own research before participating in any airdrop.

#Layerzero #LayerZeroAirdrop #Airdrop #Airdrops

Layerzero Potential Airdrop🚀

LayerZero Labs has found 800,000 addresses that might be fake, so they won’t get all the tokens they were supposed to. At first, they thought there were over two million fake addresses, but they made their rules stricter to find fewer mistakes.
Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On www.ChikaMoji.lol

LayerZero Labs recently said they finished the time when people could admit they had fake accounts to get a smaller punishment. This is to stop “airdrop farming,” where people use fake accounts to get more tokens than they should. Now, addresses that fit their rules will only get 15% of the tokens they were going to get, and the other 85% will go to people who followed the rules.

LayerZero Sybil Address Bounty Hunt and Reporting Process

Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On www.ChikaMoji.lol

LayerZero Labs has shared a complete list of addresses found through initial checks by LayerZero, Chaos Labs, and Nansen, along with self-reported addresses. This list aims to exclude large groups of fake accounts from joining the bounty hunt.
Starting from May 3, LayerZero set up a way for people to report themselves if they had fake accounts, offering them 15% of their token reward if they were honest within 14 days.
The initial list aims to be clear, but it might change before the final report comes out, as they might add or remove addresses.

Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On www.ChikaMoji.lol

https://x.com/LayerZero_Labs/status/1791622471965163597?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1791622471965163597%7Ctwgr%5Ed27debaacc6f27fad76ad266e1150edcd047b1f4%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbitcoinworld.co.in%2Flayerzero-labs-flags-800000-potential-sybil-addresses-down-from-2-million-identified-initially%2F
The hunt for fake accounts started on May 18 at 2:00 pm UTC and will end on May 31 at 11:59 pm UTC. To get a reward, participants need to report at least 20 fake accounts and explain how they found them. They can earn 10% of the tokens that the fake accounts would have gotten.

Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On www.ChikaMoji.lol

The list of fake accounts won’t change during the hunt to keep things fair. After the hunt ends, they’ll share the final list of who’s eligible for rewards.
Sybil Farming in Decentralized Finance Protocols
Sybil farming, where people create multiple fake accounts to unfairly get tokens or rewards, has become a big problem in decentralized finance (DeFi) protocols.

Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On www.ChikaMoji.lol

Airdrops, which give newly issued cryptocurrencies to early users, are often used by these protocols to get more people involved.
LayerZero’s ZRO was the first Hyperp (Hyperliquid-only perp) to start on the HyperLiquid perpetual futures decentralized exchange in September 2023.
We’ve seen sybil farming before in crypto. In 2022, Optimism found and removed over 17,000 suspected wallets from its airdrop for being involved in sybil farming, which was about 6.83% of the wallets that were supposed to get tokens.
In September, the ZkSync Era network found 21,877 wallets doing sybil farming. These wallets were trading a closed-source token among themselves using a private decentralized exchange.

Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On www.ChikaMoji.lol

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Layerzero #ZRO #Airdrop #Bitcoin #Ethereum $BTC $ETH

$BNB

LayerZero and Wormhole are OFT's.

But what are OFT's?

OFTs are tokens that move across blockchains just like data packets move across the Internet.
This article is about OFTs, how they work, key properties, and who is using the OFT Standard.
Let’s dive in.
What is the OFT Standard?
OFT stands for “Omnichain Fungible Token.”
You can think of OFT as a universal token standard used to send, receive, and compose assets across all blockchains.
The OFT Standard is a contract for creating and tracking tokens across many chains at the same time. It is available to anyone building on LayerZero. The OFT Standard extends fungible tokens, like ERC20, to all the chains LayerZero supports.

Projects deploying a token using the OFT Standard maintain complete ownership of their contracts, may select what chains to deploy on (now and in the future), and have the option to choose how messages are verified by configuring a unique Security Stack.
The OFT Standard has been live and in production for 21 months, securing over $4.5 billion in transfer volume across 45+ chains.
How Do OFTs Work?
On OFT transfers and adapting existing tokens into the OFT Standard…
OFT Transfers
OFTs operate through a mint-and-burn mechanism that works the same on every type of blockchain.
Transferring an OFT between blockchains involves two steps:
First, the token is ‘burned’ (or destroyed) on the original blockchain.Second, an equal amount of the token is ‘minted’ (or created) on the new blockchain.

LayerZero facilitates this accounting process by sending a message from the source to the destination blockchain, instructing it to mint the same number of tokens that were burned. This keeps the token’s total amount the same across all networks, ensuring its value stays stable during the move and that the OFT retains a unified, global supply count.
OFT Adapter
For projects that have already minted a token on a single chain, the OFT Adapter is available to extend that token across every LayerZero-supported blockchain. This process involves an intermediary contract that handles sending and receiving tokens that have already been deployed.
For example, when transferring an ERC20 from the source chain (Chain A), the token will lock in the OFT Adapter, triggering a new token to mint on the selected destination chain (Chain B) via the paired OFT Contract. From there, the OFT can be moved across any LayerZero-supported blockchain the project wants to enable using the burn and mint mechanism described above.

Key Properties of the OFT Standard
Any project creating an OFT inherits the following characteristics:
Contract Ownership
Inherently non-custodial, the OFT Standard allows developers to retain ownership and control over their token contracts, managing the token supply directly across each blockchain. LayerZero is intentionally designed to be an immutable protocol that has no ability to custody assets or alter the security settings or chain support of integrated contracts. LayerZero can never take custody of an OFT, make security decisions that would alter how an OFT transfer is verified, or disable support for a chain that an OFT is enabled on.
The non-custodial nature of the OFT Standard ensures that tokens remain under a project’s control, eliminating counterparty risks that are prevalent in other cross-chain solutions. Furthermore, OFT deployers may customize an optional fee structure on top of OFT transfers should they wish to generate revenue for their project.
Flexible Security
Any entity capable of verifying cross-chain messages may permissionlessly participate in LayerZero as a Decentralized Verifier Network (DVN), including native bridges, third-party bridges, oracles, etc. Applications building on LayerZero may select a combination of DVNs to attest to the validity of a cross-chain message before it is executed on the destination chain. An application’s selection of DVNs is called its Security Stack.
LayerZero empowers token developers to select their own set of DVNs for verifying OFT transfers. This flexibility allows token deployers to configure customized Security Stacks that align with the specific requirements of their tokens.
On top of choosing what entities verify token transfers, token issuers may also choose what chains the token is deployed on, how many blocks a DVN must wait to verify a message, and how a message is executed on the destination chain. Application owners can update configurations when new technologies emerge and expand their OFT to new chains at any time.
Additionally, the Pre-Crime module functions as an advanced security layer, proactively scrutinizing transactions for potential threats or irregularities before they are executed, thus bolstering the protocol’s defense against exploits.
Universal Semantics
OFTs bring standardization to token operations across different blockchain networks. Traditional tokens are often bound by the rules and standards of their native blockchain, leading to a fragmented experience when interacting with multiple chains. OFTs, however, maintain a consistent standard across all chains they operate on.
This uniformity simplifies the user and developer experience, as the token behaves identically regardless of the blockchain and can be composed via a wide variety of contracts. Such standardization is invaluable for developers and users alike, as it reduces the complexity and learning curve associated with managing assets on multiple chains. Furthermore, developers deploying an OFT using the LayerZero Executor can take advantage of full gas abstraction, allowing users to pay only a single gas fee from the source chain to execute an entire cross-chain flow.
Unified Token Supply
OFTs unify liquidity across networks through swift and secure communication between contracts via burn and mint. This eliminates the need for wrapped assets (4/5 largest exploits have occurred with wrapped assets, including $326M Wormhole hack in 2022) and liquidity on multiple chains for bridging via standalone asset pools, paving the way for scalable liquidity across numerous L2s and L1s.
In terms of efficiency, OFTs exist as native tokens on each chain, requiring only gas fees for transfer, devoid of additional costs associated with wrapping, bridging, or slippage. OFTs can be natively transferred across any LayerZero supported chains (currently 55+ chains) in a point-to-point flow, without ever needing to redeem on any one base chain.
OFT Standard Adoption
Any type of project can utilize the OFT Standard.
Over 100 projects have adopted the OFT Standard, ranging from stablecoins to gas tokens to LSTs.

For the sake of brevity, we will only list a few specific examples below…
Stablecoins
Angle (agEUR): agEUR is the largest decentralized stablecoin pegged to the EURO. agEUR is available on 11 different chains. The coin has been moved 7.6 million times since it was launched 18 months ago.Abracadabra (MIM): Abracadabra was one of the first stablecoin projects to make their token omnichain. MIM is currently available on 11 chains.
Blockchain Tokens
Bitcoin (BTC.b): Borderless Bitcoin leverages the LayerZero Omnichain Fungible Token (OFT) standard to seamlessly integrate Bitcoin across all LayerZero-supported networks.Metis (METIS): By leveraging OFTs, Metis enhanced the movement and utility of their native tokens across various blockchain environments.
DeFi Tokens
Trader Joe (JOE): The Avalanche-founded dApp Trader Joe opted into the OFT Standards in February of 2023.Radiant (RDNT): Radiant Finance uses OFTs to enhance the liquidity and transferability of its governance token across various networks.
Liquid Staking Tokens
StakeStone (STONE): StakeStone native LST, $STONE, is available on Ethereum and Manta as an OFT. As of January 2024, StakeStone’s TVL is above $750 million.unshETH (unshETH): unshETH expanded to BNB Chain from Ethereum by making its LST $unshETH an OFT in April 2023.
Conclusion
The OFT Standard represents a unified, secure, and user-friendly approach to tokenization.
OFT is one token standard for many chains that can use any type of verification method to approve token transfers.
As the industry continues to expand to 1000s of chains, the OFT Standard is here to enable unified token supply and liquidity while empowering token issuers to control the security specifications protecting asset transfers.

#HotTrends #OFT #Wormhole #Layerzero #Write2Earn