Hassan Maishera
On Tuesday, the LayerZero team announced via X that LayerBank, a permissionless onchain bank, is going omnichain with LayerZero. ULAB, its native token, has adopted the OFT Standard for cross-chain transfers. LayerBank is also using LayerZero messaging to power a cross-chain lending market.
Moving forward, LayerBank will leverage LayerZero's OApp, OFT standard, and interoperability solutions to enable multi-chain bridging for the $ULAB token and launch a cross-chain lending market. This will provide LayerBank users with a seamless experience unrestricted by chain boundaries.
LayerZero is an interoperability protocol designed to facilitate seamless communication between different blockchains. It aims to create a unified, interconnected blockchain ecosystem where assets and data can move freely across various networks. ZRO trades at $5.038, down 12.5% in the last 24 hours.
