Co-Founder and CTO @LayerZero_Labs
Vancouver, British Columbia
- Tweets 861
- Following 454
- Followers 14,290
- Likes 1,149
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Regulated stablecoins, everywhere.
@Anchorage, home to America’s first federally chartered crypto bank, has selected LayerZero as its interoperability partner for regulated stablecoin issuance.
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New from LayerZero Research - Challenging Poseidon
Today we’re sharing two new papers outlining a number of structural weaknesses in Poseidon, one of the most widely used hash functions in zero-knowledge proving systems.
layerzero.network/blog/chall…
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There are a series of posts today talking about Wyoming/FRNT that is so wildly hyperbolic and 'hit-piece-y' it feels like we must respond to it.
Here is the exact history
- We deployed the FRNT token on Solana on behalf of Wyoming. They had requested for it to be deployed with 'All extensions initialized'
- We handed over all related Token2022 extensions except for the 'Scaled UI Amount authority' that was missed by both Wyoming and us.
- This extension is UI scalar amount only. It can not mint, burn, freeze, seize, pause, transfer funds, change token supply, or modify raw balances. It was never modified and remained at 1 for the entire period.
- As soon as it was flagged that this had not been transferred, it was transferred to Wyoming within 24 hours
DLP5sGaLm596Fa8PCNPYNofFK1cZxzME7csK3xBsABCT
→
3FL7iZaerXVygpPAFtXyxoCGdoUt11eiSBYkko6mMD8x
The 'Scaled UI Amount Authority' is a view-only metadata account. There is also a claim that the key to this function was lost which is both wrong and a strange claim to make given you can see it being transferred on-chain and it was less than 24 hours from request to confirmed transfer.
As always I have nothing bad to say about @wyostable. I think they've been trying something really innovative and I wish them nothing but the best of luck. I continue to be a champion of what @wyoapollo and team are trying to do.
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Introducing Akita, the first production-ready, lattice-based polynomial commitment scheme for post-quantum security.
It’s the first major step in making Zero quantum-secure, and will be implemented in Jolt on day one, thanks to our partnership with @a16zcrypto.
Read the full research paper:
layerzero.network/blog/intro…
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Most investors do not appreciate the important role that @LayerZero_Core is playing in crypto messaging and interoperability. I am so impressed with the vision of Bryan, Simon, and the team.
Messaging/interop protocols have been critical infra since the proliferation of L1s, app-specific chains, and the rollup-centric roadmap.
As many more assets move on-chain, the need for ubiquitous interoperability only grows exponentially.
It's becoming pretty clear to me that @LayerZero_Core 's interop business ALONE will probably grow into nine-figure ARR very quickly.
Much more to come from the team.
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"We're starting with hundreds of thousands of transactions per second, but we know we're able to horizontally scale to five million, ten million and beyond. That's what this architecture allows that legacy architectures can't accommodate."
- @Bakxys on @Genfinity
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We are building ATLAS to do for global markets what interoperability and the OFT have done for global money.
Some of the world's largest institutions have been actively building on & testing ATLAS and we repeatedly hear they are blown away.
Excited to expand testnet access
The world’s markets are undergoing a once in a generation transition.
We’ve spent the last year building ATLAS (Aggregated Trading Liquidity and Settlement), a first-of-its kind, headless exchange designed for the future of global markets. It combines the performance and fairness of a traditional exchange with the verifiability and self-custody of a decentralized exchange. The best of a CEX meets the best of a DEX.
ATLAS has been built alongside the world’s leading financial institutions and is designed to deliver fair, performant markets around the globe. It delivers deep, global liquidity for both open and institutional trading venues.
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Six months ago, we announced Zero, the last blockchain. Designed to scale to the demands of Web2 with the security and decentralization of Web3, Zero unlocks use cases not possible before it.
One of those use cases, we are announcing today. ATLAS (Aggregated Trading Liquidity and Settlement) is a universal backend for global markets, both open and institutional. It delivers a first-of-its-kind, TradFi-performant backend on a decentralized blockchain. We call it a backend because it’s completely headless: there’s no frontend or consumer application. Instead, trading venues build directly on top of our infra, which collapses matching, clearing, settlement, and risk into a single stack. Trading venues build and own the product experience; ATLAS handles the rest.
ATLAS leverages the full breadth of everything Zero has to offer. It delivers sub-millisecond latency and throughput that far exceeds what the market demands today.
ATLAS is the first of many innovations Zero will have to offer in the coming months. Stay tuned...
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The amount of work coming out of our research team right now is incredible, can't wait to get to show everyone.
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I have to admit, it’s been pretty cool watching crosschain activity pick back up after the challenges of Q1 and Q2.
@USDT0_to alone:
- Yesterday was the highest volume day since April: $221M
- Third consecutive week of growing weekly volume
- Crossed $100B in total volume moved
- $854M moved in the last 7 days
The headlines come and go. The infrastructure people actually rely and build on stay. Higher.
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"As of today, Frax assets worth over $500M span 20+ blockchains with LayerZero, having securely moved hundreds of millions across tens of thousands of messages and growing."
Incredible article. @samkazemian and @fraxfinance continue to set an amazing example as builders.
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Guy and the @ethena team are some of the most impactful builders of internet-native/better money. Proud to have them building on @LayerZero_Core and see them setting an example for what a continuously improving security setup can look like.
USDe and sUSDe continue to be some of the most used assets in the space, moving $4B of their lifetime $33B in the last 30 days alone.
Extremely fortunate to get to work with people like @gdog97_ @n2ckchong & team. It's a long and fruitful road ahead, much more to come.
Ethena's cross-chain security infrastructure has been hardened across the full stack and we will continue to do so on an ongoing basis.
The security and risk contributors to Ethena remain comfortable operating on LayerZero infrastructure with hardened DVN configurations, reduced mesh complexity, and custom rate limits.
There are no plans to move off LayerZero infrastructure.
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USDT0 launched nearly a year before the Tether investment into LZ.
We chose LZ because it’s the solution the allows the highest amount of customization and vertical integration of the security building blocks of cross chain interoperability.
We believe no interoperability solution can match what LZ gives us in terms of security and usability.
We have absolutely no plan to move away from LZ as our interop provider.
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Zerolore
Zeronoise
Zeropolitics
Zerogames
Unstoppable Together
Incredibly lucky to have partners like @zerolore and @USDT0_to, just among the absolute best we've ever worked with. From a casual game of Wizard in Bogota to one of the most utilized assets on the planet.
Growing userbase
Growing volume (closing in on $100B)
Much more to come
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