News

The LayerZero Ecosystem Strongly Grows When The Airdrop Rumors Spread Out

Key Points:
  • According to defillama data, LayerZero projects have grown significantly as Airdrop rumors spread throughout the community.
  • Stargate Finance and Radiant Finance, the two most popular projects on Arbitrum and Optimism, rose by more over 4% in just one week in the first week of April.
The projects based on LayerZero are seeing significant development, primarily from Airdrop hunters anticipating a large Airdrop from this ecosystem.

According to Nansen, the number of users actively interacting with decentralized applications (DApps) built on this layer has significantly increased over the past two weeks, particularly after LayerZero announced the launch of its Series B fundraising round on April 4.

Specifically, during the first week of April, the projects Stargate Finance and Radiant Finance, both of which are built on this platform, were the most popular ones on Arbitrum and Optimism. LayerZero and its applications are ranked anywhere from seventh to thirty first in terms of the amount of user engagement they receive across a variety of platforms, including Polygon, BNB Chain, and Ethereum.

Stargate Finance is a fantastic tool that is built on the LayerZero Ecosystem. Users can exchange tokens on seven other blockchains via the cross chain protocol, which includes Ethereum, Avalanche, Polygon, BSC, Fantom, Arbitrum, and Optimism. Stargate Finance’s TVL is currently $427 million, up about 4% in the last 7 days, according to DefiLlama data.

The forthcoming airdrop has been the subject of various rumors, which has contributed to the dramatic rise in user activity. In the past, the ZRO token was mentioned in the team’s source code that was hosted on Github.

This blockchain solution is an omnichain interoperability protocol that was developed by LayerZero Labs. This protocol connects decentralized applications (dapps) that run on numerous different blockchains. LayerZero Labs is currently valued at up to $3 billion and has successfully completed three financing rounds, bringing in a total of $293.3 million.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

Chubbi

Recent Posts

Gate.io Shatters Records in Total Trading Volume in Q3 2024, with Its User Base Surpassing 17 Million

In the third quarter of 2024, despite a challenging market environment, Gate.io maintained strong growth…

16 mins ago

MEXC Champions the Future of Crypto Content Creation at CCCC

MEXC is proud to partner with the inaugural Crypto Content Creator Campus CCCC event, taking…

16 mins ago

Dtec Announces Global Partnership with DİZAYNVIP to Elevate AI-Driven Mobility Design  

Dtec and DİZAYNVIP partner to merge AI technology with luxury vehicle design, revolutionizing smart mobility…

1 hour ago

Bitcoin Spot ETF Outflows Reach Second Highest in History

Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…

5 hours ago

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

8 hours ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

10 hours ago

This website uses cookies.