Flare Network Integrates “LayerZero V2” | Connects to 75 Blockchains

Flare Network has integrated with LayerZero V2, connecting to 75 blockchains including Ethereum and Solana.

This integration allows Flare to access over 50,000 DApps, enhancing its interoperability and opening new avenues for DApp developers and cross-chain financial markets.

Learn how this milestone expands Flare’s ecosystem and the potential for non-smart contract cryptocurrencies like BTC and XRP in cross-chain finance.

Significant Milestone in Connecting Flare with Other Blockchains

On July 3, 2024, Flare Network (FLR) announced the integration of Flare with LayerZero V2, enabling connectivity to 75 blockchains including Ethereum, Ethereum L2, Solana, and more.

LayerZero is an interoperability protocol that allows applications to move data between different blockchains. Version 2 (V2) of LayerZero, launched in January this year, includes significant upgrades.

With this integration, Flare can now access over 50,000 decentralized applications (DApps) that adopt LayerZero’s cross-chain messaging standard. This integration represents a crucial milestone for Flare.

Multiple Use Cases Including Cross-Chain Markets

By integrating LayerZero V2, Flare can instantly and securely connect to thousands of applications and services built on major blockchains. This expansion enables Flare’s DApp developers to access new users and liquidity sources.

Additionally, utilizing LayerZero’s token standard “OFT,” developers can create tokens usable across all connected chains. This opens up possibilities such as “cross-chain money markets,” where collateral assets can be deposited on one chain and borrowed from another.

Flare co-founder Hugo Philion expressed optimism about enabling non-smart contract cryptocurrencies like BTC and XRP to participate in cross-chain financial markets.

Of particular interest to me is the ability of LayerZero to leverage Flare to facilitate cross-chain money markets.

This includes integrating non-smart contract tokens such as BTC and XRP through the upcoming FAssets system.

Another interesting aspect is the ability of Flare's builders to create omni-chain fungible tokens (OFTs) and chain-independent NFTs.