layerzero

According to Fortune magazine, the cross-chain protocol LayerZero, supported by Andreessen Horowitz (a16z) and Sequoia Capital, announced the launch of a new blockchain called "Zero," specifically designed for traditional finance, and has received support from several mainstream Wall Street institutions.The newly launched Zero blockchain aims to achieve a performance of processing 2 million transactions per second with a cost of less than one cent per transaction through breakthroughs in zero-knowledge proof technology, addressing the traditional financial system's demand for high throughput and low costs. The company plans to officially launch the network in September.Citadel Securities, ARK Invest founder Cathie Wood, and the parent company of the New York Stock Exchange, Intercontinental Exchange (ICE), have participated in the project as investors, partners, or advisors. Stablecoin issuer Tether and ARK Invest have also confirmed their investment in LayerZero.LayerZero co-founder Bryan Pellegrino stated that the introduction of these institutions with deep market structure experience aims to drive Wall Street's large-scale adoption of blockchain technology.

According to official news, LayerZero has announced the launch of the Layer 1 blockchain network Zero. It is reported that LayerZero positions Zero as a ------ multi-core world computer, indicating that the network fundamentally changes the current blockchain paradigm limited by single-threaded, homogeneous architectures.By utilizing zero-knowledge proof technology, the Zero network can support two different categories of validators: lightweight block validators that can run on low-end consumer hardware, and optional high-performance block producers. The system achieves a practical scalability roadmap of 2 million transactions per second for each Zone by addressing four major bottlenecks. The solutions include QMDB for state storage, FAFO for parallel computing scheduling, Jolt Pro for real-time zero-knowledge proof generation, and SVID for high-throughput networks.

According to official news, Tether Investments announced a strategic investment in LayerZero Labs. LayerZero Labs is a developer of interoperability protocols, and its technology is widely used to support cross-chain value transfer in the global digital asset ecosystem. The investment aims to support LayerZero Labs in developing efficient and secure cross-chain technology.LayerZero Labs' technology has been used to support cross-chain transfers of assets such as USDt0 and XAUt0. Since its launch, USDt0 has achieved over $70 billion in cross-chain value transfer in less than 12 months, validating the global scale interoperability of its technology. Tether CEO Paolo Ardoino stated that LayerZero Labs' technology provides critical support for real-time cross-chain transfers of digital assets, particularly suitable for micropayment scenarios in the AI agent economy.

According to market news, the cross-chain interoperability protocol LayerZero plans to launch its own blockchain "Zero," a piece of information that appeared in a now-deleted YouTube video.

According to market news, LayerZero previously released a video showing what appears to be the upcoming blockchain "Zero," but the related video has now been deleted.

The LayerZero community's vote on "whether to activate the protocol fee mechanism" did not pass due to not reaching the required number of voters. The next vote will be held in 6 months. The proposal includes deciding whether to activate the LayerZero protocol fee mechanism, which would charge a fee for each LayerZero message not exceeding the costs of validation and execution. The collected fees will be converted to ZRO and burned.

Ondo Finance has announced the launch of the Ondo Cross-Chain Bridge for on-chain securities. The Ondo Cross-Chain Bridge is now live on Ethereum and BNB Chain, enabling cross-chain transfers of over 100 stock tokens and ETF tokens.The cross-chain bridge is built in collaboration with LayerZero and is secured by a decentralized validation node network (DVN) that includes Canary Protocol, and it is implemented through Stargate, allowing for the following functionalities: cross-chain transfers of Ondo stock tokens and ETF tokens at a 1:1 asset parity; facilitating applications on Ethereum and BNB Chain to easily add support for Ondo assets; and rapid large-scale expansion to other Ethereum Virtual Machine (EVM) compatible chains.

ZRO holders can participate in the third fee switch vote starting from December 20 at 00:00. This vote occurs every six months and aims to allow holders to decide whether to activate the protocol's fee switch. If the vote passes, the protocol fees will be used to buy back and burn ZRO.The voting window is from December 20 at 00:00 to December 27 at 00:00. The quorum requirement for voting is 40.59% of circulating ZRO, which means 230 million ZRO are eligible to vote. If the quorum is met, more than 50% of the votes in favor are required for it to take effect. LayerZero Labs, LayerZero Foundation, and related parties will abstain.

Solana's official post on the X platform states that Hex Trust and LayerZero_Core will bridge and issue wXRP, a token that supports Solana DeFi and can be exchanged on the XRP Ledger at a 1:1 ratio at any time.According to previous news from ChainCatcher, Hex Trust plans to issue and custody a wrapped version of XRP called "wXRP" to expand the application of DeFi across multiple chains.

According to The Defiant, Dinari announced the integration of LayerZero to provide users with cross-chain access to tokenized U.S. stocks. According to DeFiLlama data, Dinari's total value locked is approximately $45 million.The first round of deployment covers 4 blockchains and 200 tokenized U.S. stocks, with plans to expand to over 150 blockchains on the LayerZero network in the future, ultimately covering the entire U.S. stock market. Dinari CEO Gabe Otte stated that this integration will deeply connect traditional market infrastructure with on-chain stock trading, providing cross-chain settlement capabilities for real U.S. stocks while maintaining compliance. Dinari has raised $22.65 million from investors such as VanEck Ventures and Hack VC, and has obtained a registered transfer agent license.

ChainCatcher news, GriffinAI founder @Griffin_AI disclosed that GAIN (BNB Chain) experienced an abnormal issuance and was heavily sold off a few hours ago, leading to a sharp price drop.Upon investigation, it was found that the attacker initiated the attack by introducing an unauthorized LayerZero spoof node: they deployed a counterfeit Ethereum contract (token TTTTT, address 0x7a8caf) and added it as a LayerZero node for GAIN on the Ethereum side, thereby bypassing the official contract (0xccdbb9). Subsequently, the attacker minted 5 billion GAIN on the BNB Chain and continued to sell off. Currently, the related attacker's wallet still holds excess tokens.

ChainCatcher news, according to GoPlus analysis, the GAIN project was exploited by attackers due to a LayerZero Peer configuration error. The attackers initialized additional Peers on the ETH chain and minted TTTTT, bypassing cross-chain verification to anomalously issue 5 billion GAIN on the BSC chain.This incident is similar to the previous Yala attack, and the GAIN price has plummeted over 90%. Users are advised to temporarily cease interactions with this project to prevent losses.

ChainCatcher news, according to official disclosure from LayerZero, the LayerZero Foundation has executed a buyback of 50 million ZRO tokens from early investors, accounting for 5% of the total token supply.

ChainCatcher news, PayPal USD will be launched on the TRON network through the Stargate Hydra platform in the form of the permissionless token PYUSD, utilizing LayerZero's omnichain fungible token (OFT) standard, allowing this stablecoin to reach markets and users in demand through LayerZero's distribution network.

ChainCatcher message, OneStable announced on platform X that it has officially launched as the first stablecoin issuance layer, built in collaboration with Enso, LayerZero, and Stargate, and has gone live on Reservoir.

ChainCatcher news, according to official sources, the Web3 IP management protocol Camp announced a technical integration with the cross-chain interoperability protocol LayerZero, which will adopt its official cross-chain bridge and OFT (Omnichain Fungible Token) infrastructure to achieve seamless transfer of IP assets across more than 130 blockchains.

According to ChainCatcher news, the LayerZero official announcement states that the Stargate DAO has approved its acquisition of Stargate (STG). StargateDAO members voted 95% in favor of the acquisition, and STG holders will be able to convert their tokens to ZRO on Monday.On August 11, the LayerZero Foundation proposed a $110 million acquisition of the Stargate cross-chain bridge and its STG tokens. According to the terms of the proposal, STG tokens will be deactivated, and STG holders can exchange their tokens for LayerZero's native token ZRO at a rate of 1 STG for 0.08634 ZRO, which equates to a value of $0.1675 per STG and $1.94 per ZRO.