As cryptocurrency categories reshuffle, will LayerZero kickstart the next cryptocurrency boom?

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Recently, the cryptocurrency market has been exceptionally active, with Bitcoin and Ethereum leading the charge and altcoins following suit. In particular, LSD tokens have registered a growth of 120% in 24 hours. Also, as DeFi becomes active again, Radiant Capital, an omnichannel lending project, has caught the attention of many users.

Also, there are rumors that Arbitrum, which is implemented by Radiant Capital, will soon be issuing coins. As a result, many users choose to interact directly with Radiant for a double win. In addition to Arbitrum, LayerZero, the number one cross-chain project, is also behind Radiant. Now that the cryptocurrency categories have started to reshuffle, let’s talk about LayerZero.

LayerZero raised nearly $200 million through two rounds of funding in September 2021 and March 2022. The first Series A round was led by Binance Labs and Multicoin, while the second Series A+ round involved FTX, SBF, Sequoia Capital , a16z, Uniswap, and Coinbase, demonstrating the wide recognition it has gained among crypto institutions.

In a nutshell, LayerZero consists of three components: endpoints, oracles, and relays. In particular, an endpoint is divided into communicators, validators, networks, and libraries. When cross-chain transactions occur, relevant information will be passed between endpoints via oracles and relays. Retail investors can take advantage of more opportunities within the LayerZero ecosystem.

1. Synthro.

Synthr is a cross-chain synthetic active protocol based on the LayerZero design. With the project, users can freely trade assets within Synthr ecosystems and can mint and trade synthetic assets on-chain. According to public information, Synthr is being deployed and built on chains including Ethereum, Aptos, Sui Network, and Sei Network, but overall, the project is still in its infancy.

2. Stargate.

Stargate, a cross-chain liquidity protocol, is widely considered to be a cross-chain version of CRV. The project now allows users to transfer cryptocurrency between chains including Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism, and Fantom. Also, taking a closer look, we see that Stargate’s ambition goes beyond serving retail users: it also aims to evolve into a provider of cross-chain asset transfer services for corporations.

3. Hashflow.

After the launch on Binance Launchpad, the Hashflow price has not been especially impressive. That being said, as the market has recovered, it has seen decent growth as well. As a MEV-protected, zero-slip cross-chain decentralized exchange, Hashflow is now available on six chains, spanning Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, and Optimism.

4. Radiant Capital.

Recently, RDNT, Radiant Capital’s native token, has risen dramatically and become a trending DeFi project. Based on LayerZero/Stargate, Radiant is a multi-chain lending project deployed on the Arbitrum network. Radiant now supports collateralized lending of six cryptocurrencies, respectively RDNT, USDC, DAI, USDT, ETH, and WBTC.

5. SushiXSwap.

SushiXSwap is a decentralized and cross-chain trading platform launched by SushiSwap, but unlike Hashflow, the project takes full advantage of the AMM model in cross-chain transactions and now supports seven chains i.e. Ethereum, BNB Chain, Avalanche, Polygon , Arbitrum, Optimism and Fantom.

Apart from those mentioned, there are many other interesting projects, such as InterSwap, a fully composable native asset cross-chain AMM protocol, Cashmere Labs, an MEV-resistant omnichannel interop DEX aggregator, and many others. As the crypto market shifts from Web2 to Web3, everything will become more open and inclusive, and LayerZero’s modular structure and omnichannel model will definitely create more possibilities for Web3 development.

Speaking of which, we must mention CoinEx, the first CEX to launch the AMM service. As a long-standing exchange with more than five years in operation, CoinEx has always put users first. In 2022, the platform introduced new products, including Swap and CoinEx Dock, to provide more diversified financial services and help users identify more innovations and possibilities in the crypto market. On top of that, through rigorous internal reviews, CoinEx offers 600+ premium cryptos and 1,000+ trading pairs for 4+ million users in 200+ countries and regions around the world, meeting the demand of most of the users.

In addition to helping existing crypto investors, CoinEx also strives to break free from traditional financial shackles and make crypto trading easier. The exchange hopes to impress global users with the innovation and progress of crypto as a major gateway to the crypto world. We are all witnessing great changes never seen in a century, and only by seizing opportunities can we build a brighter future.

Disclaimer: This article does not provide investment advice and all data mentioned here is for reference only. You should not rely on the information provided in this article to make any investment decision and you will be fully responsible for your own investment decisions.

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