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Why Omnichain Tokens Matter. This is part one of a series that dives… | by LayerZero | LayerZero Ecosystem | Sep, 2024 | Medium

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This is part one of a series that dives DEEP into the Omnichain Fungible Token (OFT) Standard, a contract standard for developers building on LayerZero that enables applications to deploy tokens across 80+ chains. Throughout these articles, we’ll explore the OFT Standard — its characteristics, history, and future, as well as its adopters and competitors. But first, let’s tackle the fundamental question: Why is technology that allows an asset to exist on all blockchains important in the first place? Currently, over 150 blockchains each secure more than $1 million in value, and these numbers are set to rise with Ethereum’s rollup-centric roadmap, the growing popularity of modular blockchain designs, and the entrenchment of non-EVM chains like Solana. This chain expansion has led to a pervasive issue: liquidity fragmentation. Liquidity fragmentation occurs because each blockchain operates independently, with its own rules, consensus mechanisms, languages, and currencies. Imagine blockchai

Press enter or click to view image in full size Why Omnichain Tokens Matter LayerZero 6 min read · Sep 3, 2024 -- Listen Share This is part one of a series that dives DEEP into the Omnichain Fungible Token (OFT) Standard, a contract standard for developers building on LayerZero that enables applications to deploy tokens across 80+ chains. Throughout these articles, we’ll explore the OFT Standard — its characteristics, history, and future, as well as its adopters and competitors. But first, let’s tackle the fundamental question: Why is technology that allows an asset to exist on all blockchains

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