Layer-1 Blockchain Ton said it is associated with interoperability protocol Layerzero to allow users to move funds between multiple ecosystems in a relationship that will generate increased use and fees for both parties.
Ton will initially be connected to 12 blockchains including Ethereum, Tron and Solana. Users will be able to transfer stableecoins to tons using Stargate, the largest crypto bridge. Stargate handled $ 1.6 billion in volume over the past month, according to Defillama.
Users will also benefit from Layerzero’s multichain liquidity, which allows funds to be collected in different blockchains to reduce the chance of slipping – a price change between initiating and ending a transaction – or direct failure.
Liquidity is key decentralized funding (defi). There are approx. $ 117 billion in the total value locked (tvl) across all blockchains. But with more than 4,400 blockchains and LAG-2 networks, according to Defillama, liquidity per Chain fragmented. If a trading company wanted to borrow or borrow hundreds of millions on a particular chain, the relatively large transaction value is likely to lead to sliding or failure. The risk of this happening is reduced when liquidity is assembled.
Crypto companies Tether and Ethena will also use the integration with the latter flagship of $ 5 billion, USDE to go live on tonnes. Tether’s new USDT0 stableecoin, launched to tackle liquidity problems, is transferable between tonnes, throne, ethereum, Celo and Arbitum through its new product, Legacy Mesh.
Developers will also benefit from integration as tokens can be implemented on tonnes from any of Layerzero’s chains using a single contract.
Ton was established in 2018 as an internal project on the Messaging App Telegram, which abandoned the development two years later. In September 2023, Telegram approved the now independent ton and said it would integrate blockchain into the app’s user interface. Last month it was the exclusive blockchain for Telegram’s Mini Apps ecosystem.
“Ton is arguably one of the most exciting ecosystems today,” said Bryan Pellegrino, CEO of Layerzero. “After its exclusive partnership with telegram, it now has access to almost a billion users.”