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.
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