TON Blockchain Partners with LayerZero to Enable Cross-Chain Transfers Across 12 Networks

TON Blockchain Partners with LayerZero to Enable Cross-Chain Transfers and Boost DeFi Liquidity

  • TON blockchain partners with LayerZero to enable cross-chain transfers across 12 major networks including Ethereum, Tron, and Solana.
  • Stargate bridge, handling $1.6 billion in monthly volume, will facilitate stablecoin transfers to TON ecosystem.
  • Integration enables pooled liquidity across chains to reduce transaction slippage and failures.
  • Tether and Ethena join the integration, with USDe’s $5 billion asset launching on TON.
  • TON gains access to Telegram’s user base of nearly one billion users following exclusive partnership.

TON, the Layer-1 blockchain originally developed by Telegram, is expanding its reach through a strategic partnership with interoperability protocol LayerZero, enabling seamless fund transfers across multiple blockchain networks while addressing critical liquidity challenges in the cryptocurrency ecosystem.

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The integration connects TON to twelve major blockchains, leveraging Stargate, the prominent crypto bridge that processed $1.6 billion in transactions over the last month according to DefiLlama. This development addresses a crucial challenge in decentralized finance (DeFi), where liquidity fragmentation across thousands of networks has historically hindered efficient trading.

Current DeFi statistics from DefiLlama show $117 billion in total value locked across blockchains. However, with over 4,400 blockchains and layer-2 networks operating independently, liquidity remains severely fragmented, making large-scale transactions susceptible to price fluctuations.

Tether and Ethena‘s participation adds significant weight to the integration. Ethena’s USDe, a $5 billion asset, will launch on TON, while Tether’s innovative USDT0 stablecoin becomes transferrable across multiple chains through its Legacy Mesh system.

“TON is undoubtedly one of the most exciting ecosystems today,” stated Bryan Pellegrino, CEO of LayerZero, highlighting the significance of TON’s exclusive partnership with Telegram.

The integration marks a significant evolution for TON, which began as an internal Telegram project in 2018. After separating from Telegram in 2020, TON has achieved remarkable growth, culminating in its September 2023 endorsement by Telegram and subsequent integration into the messaging app’s interface, providing access to an unprecedented user base of nearly one billion people.

For developers, the partnership streamlines token deployment across LayerZero’s supported chains through a unified contract system, potentially accelerating cross-chain development and adoption in the cryptocurrency ecosystem.

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