Flare, the pioneering layer 1 blockchain dedicated to data, has unveiled a partnership with LayerZero V2, establishing connections to a network of 75 blockchains, including heavyweights like Ethereum, Solana, and Ethereum’s Layer 2 networks. This integration marks a watershed moment for Flare, as it opens its doors to over 50,000 decentralized applications that have adopted LayerZero’s innovative cross-chain messaging protocols. Additionally, LayerZero’s technology empowers any blockchain to seamlessly integrate Flare’s robust and decentralized data solutions.
LayerZero stands at the forefront of cross-chain messaging protocols, ensuring secure communications among decentralized applications and enabling the seamless flow of information between disparate blockchains. To date, LayerZero has facilitated over 134 million cross-chain messages, underpinning a decentralized framework that has supported the transfer of digital assets exceeding $50 billion in value. In the past month alone, Stargate Finance, which operates on the LayerZero general message passing protocol, has witnessed nearly $800 million in transactions related to asset bridging.
A key feature of LayerZero V2 is its modular security stack, which decentralized applications (dapps) can utilize to authenticate and verify messages originating from other blockchains. This security stack is composed of multiple Decentralized Verifier Networks (DVNs). Flare enables developers to tailor the security and performance of their applications by opting for message validation through one or several DVNs. The permissionless nature of LayerZero V2’s DVNs allows for the creation of independent networks, enhancing security measures. Flare’s intrinsic data protocols, safeguarded at the network level, position it as an exceptionally secure DVN within the LayerZero V2 ecosystem.
Thanks to the integration with LayerZero V2, Flare now boasts a direct and secure gateway to a vast array of dapps and services built on leading blockchains. This cross-chain interaction, spanning all chains connected to LayerZero, including Solana, Ethereum, and both EVM-compatible L1s and L2s, provides Flare’s dapp developers with access to a wealth of new users and liquidity sources.
Through its collaboration with LayerZero, Flare is strategically poised to maintain the utmost standards of decentralization and security, while simultaneously expanding its network, user base, and liquidity pools.
Hugo Philion, Co-Founder of Flare, shared his insights:
“The Omnichain Fungible Token (OFT) standard from LayerZero is a game-changer, allowing the creation of tokens that are operable across any connected chain. This paves the way for groundbreaking DeFi applications, such as enabling users to pledge collateral on one chain and leverage it to secure loans on another. Flare’s integrated oracles will play a crucial role in price determination within these emerging cross-chain financial markets.”
Kenny Zhang, the Ecosystem Growth Lead at LayerZero, added:
