LayerZerothe team behind the project LayerZero Labsannounced that it has completed a $120 million Series B funding round.
This funding round, which increased the value of LayerZero Labs to $3 billion, a16z, BOND, Christie’s, Circle Ventures, OpenSea Ventures, Samsung NextAnd Sequoia Capital33 investors, including . LayerZero Labsthese funds are needed in the growth of the project and APACannounced that it will play an important role in expanding the presence in the region.
LayerZero Provides More Than $7 Billion of TVL
Co-Founder and CTO of LayerZero Labs Ryan Zarick, commented on the subject: “A single user-facing application witherthe speed of Ethereum’ Imagine being able to use un-security and Arweave’s cheap file storage. All of which enable the creation of off-chain applications on various blockchains. LayerZeropossible with the protocol.”
LayerZero is a protocol that enables interoperability and facilitates seamless cross-chain messaging between numerous blockchains. Decentralized applications ( dApps ) provides the basic infrastructure needed to be located in more than one blockchain. developers, LayerZero’They can create projects on multiple blockchains without the need for an intermediary to facilitate cross-chain interactions.
LayerZero ‘s platform has experienced significant growth since its launch. In the process, the project, which facilitated the transfer of more than two million messages to more than 30 chains, has a total locked value of more than 7 billion dollars ( TVL)and realized a transaction volume of more than 6 billion dollars.
