LayerZero Confirmed Its Mainnet Launch in January, Token Launch in the First Half of 2024

LayerZero confirmed its mainnet launch in January, token launch in the first half of 2024

According to a statement on the morning of December 15, LayerZero confirmed that version V2 is starting to be deployed on 42 test networks. Then the mainnet will be officially deployed in January 2024.

The core protocol is built so that extending to new chains – even non-EVM chains – doesn’t change how applications need to be built.

If you’re building on LayerZero, it’s because you don’t want to trust others. It’s because you trust yourself.

— LayerZero Labs (@LayerZero_Labs) December 14, 2023

Previously, LayerZero was built from the beginning with the plan to create a separate token. However, the lack of communication with its community over a long period of time has caused unnecessary misunderstandings and speculation. Many people who used LayerZero’s flagship product, Stargate, to “farm airdrop” also gradually abandoned the project.

LayerZero has always been built with the ability to have a native token within the protocol, as can be seen in the immutable code launched on day 1. We’ve heard the community discussion over the last few months and the lack of clear communication around this. We’ll state now in…

— LayerZero Labs (@LayerZero_Labs) December 7, 2023

In the comments section, some people have asked if the project has implemented on-chain user interaction snapshots. However, so far, this information has not been confirmed by LayerZero.

LayerZero is a bridge solution that helps independent blockchains interoperate while still maintaining decentralization, safety and efficiency. In April 2023, LayerZero successfully raised capital of up to 120 million USD, with a valuation of up to 3 billion USD.

TVL of Stargate Finance

LayerZero’s name is also related to Stargate Finance (STG), a multi-chain bridge solution that reached the 2 billion USD TVL mark after only 2 weeks of launch in March 2022. However, Stargate’s TVL has so far decreased and is only about 318 million USD, according to DeFiLlama.

TVL of Stargate Finance on the morning of December 15, 2023. Source: DefiLlama