Cryptocurrency Analysis and News Portal
As these two significant platforms combine their experience and resources, they have the potential to set new standards for decentralized banking and uncover a plethora of opportunities for developers and consumers alike. Tenet, a functional layer-1 blockchain network built on the Cosmos SDK, has recently forged a groundbreaking partnership with LayerZero,
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Layer-1 blockchain Tenet is set to see its liquid staking derivatives platfrom plug into a cross-chain decentralized finance (DeFi) ecosystem through a partnership with omnichain messaging protocol LayerZero.Tenet has plugged into LayerZero’s cross-chain protocol to access the wider DeFi ecosystem across a number of different blockchains. The Cosmos-based blockchain is
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Cross-chain messaging protocol LayerZero and security platform Immunefi have teamed up to launch a $15 million bug bounty program. The program offers a maximum reward of $15 million for anyone identifying a vulnerability at the highest severity level. According to its terms and conditions, rewards are based on the Immunefi Vulnerability Severity
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Volume on the Stargate cross-chain bridge has surged by 30% in the past 24-hours as investors attempt to meet the criteria for a rumored LayerZero airdrop. Source
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Cross-chain messaging protocol developer LayerZero Labs has raised another $120 million, according to an Apr. 4 announcement. The company plans to use the capital to increase its headcount and expand its reach into the Asia-Pacific region. The company had previously raised $135 million in March 2022.pic.twitter.com/mhJgoovYis— LayerZero Labs (@LayerZero_Labs) April
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The cross-chain interoperability and messaging protocol last raised funds in March 2022 at a $1 billion valuation. Original Source
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The vote was technically a “signaling” proposal, meaning its passage does not automatically install Wormhole as Uniswap’s official BNB bridge. Instead, the outcome means Wormhole will be written into an upcoming, official proposal to deploy Uniswap v3 on BNB chain. Source
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Summa founder James Prestwich has accused the $382 million LayerZero bridging protocol of hosting a “critical vulnerability.” According to a Jan. 30 post by Prestwich, this vulnerability “could result in theft of all user funds.” LayerZero CEO Bryan Pellegrino has called Prestwich’s accusation “absolutely shocking” and “wildly dishonest,” claiming that the
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“A trusted-party vulnerability (also called a ’backdoor’) is an undisclosed capability of a trusted party, that can compromise the function of the system,” Prestwich explained in a tweet outlining his findings. According to Prestwich, LayerZero has the ability to unilaterally steal or move around funds locked up with platforms that
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LayerZero currently has about $107 million in direct cash balance and $27 million in on-chain funds primarily in stablecoins for a total of $134 million. An additional $11.5 million was on FTX and used operationally, but LayerZero said it is treating this as $0 for “the sake of sanity” and
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