Layer-1 Blockchain Ton said it connects to the Interoperability Protocol Layerzero to allow users to move funds between many ecosystems in a relationship that will develop increasing use and fees for both parties.
The TON is first connected to 12 blockchains including Ethereum, Tron and Solana. Users can move stablecoins to tons using Stargate, the largest crypto bridge. Stargate holds $ 1.6 billion in volume over the last month, according to Delete.
Users from Layerzero’s Multichain Liquidity will also benefit, which provides funds locked in various blockchains to bepool to reduce the chance of slippage -a price change between starting and finishing of a transaction – or explicit failure.
The liquidity is key Decentralized Finance (Defi). There is $ 117 billion in total amount locked (TVL) on all blockchains. But there are more than 4,400 blockchain and layer-2 networks, according to DeleteThe liquidity in each chain is a fragment. If a trading company wants to lend or borrow a hundred -millions in a certain chain the relatively large amount of transaction is likely to lead to slippage or failure. The opportunity to occur is reduced when the liquidity is poured out.
Crypto companies Tether and Etherna will also use the marriage, along with the latter’s late $ 5 billion asset, USDE, which is set to survive tons. Tether’s new USDT0 Stablecoin, which has been launched to deal with liquidity issues, can be transferred between Ton, Tron, Ethereum, Celo and Arbitrum through its new product, the Legacy Mesh.
Developers will also benefit from integration because tokens can be deployed to tons from any of the layerzero chains using a single contract.
The TON was created in 2018 as an internal telegram’s internal messaging project, which left the development two years later. In September 2023, Telegram endorsed the now independent ton and said it Include blockchain in app user interface. Last month, it became an exclusive blockchain for Telegram’s mini apps ecosystem.
“TON is undoubtedly one of the most exciting ecosystems today,” said Bryan Pellegrino, CEO of Layerzero. “After its exclusive collaboration with Telegram, there is now access to nearly a billion users.”
