LayerZero Labs, the team developing the interoperability platform LayerZero, has achieved a major milestone with the surpassing of 50 million messages between various blockchains. This comes more than three months after LayerZero Labs, the team developing LayerZero, raised $120 million from 33 backers, including Andreessen Horowitz, auction house Christie’s, Sequoia Capital, and Samsung Next.
The milestone highlights the demand for crypto users to transfer liquidity between chains and conduct cross-chain token swaps, despite the possible vulnerabilities. According to data from blockchain analytics firm Chainalysis, bridge exploits accounted for more than $2 billion in stolen assets in 2022.
Quotes: This comes more than three months after LayerZero Labs, the team developing LayerZero, raised $120 million from 33 backers, including Andreessen Horowitz, auction house Christie’s, Sequoia Capital and Samsung Next.
The milestone highlights the demand for crypto users to transfer liquidity between chains and conduct cross-chain token swaps, despite the possible vulnerabilities.