TechFlow news, according to The Block, interoperability protocol LayerZero has now launched on Ethereum, Avalanche, Polygon, BNB Chain, Fantom, Arbitrum, and Optimism, and will go live with cross-chain protocol Stargate within the next two days, enabling token transfers across seven blockchain networks. LayerZero has also hired 0xMaki, co-founder of SushiSwap, to join its team. 0xMaki will join LayerZero full-time and lead business development.
LayerZero will launch a liquidity generation event at 12:00 PM Eastern Time on March 17 (00:00 Beijing Time on March 18), selling tokens via an auction model (with a maximum price of $0.25). A total of 100 million STG tokens (10% of total supply) will be sold, and all funds raised during the event will belong to the protocol. After the auction ends, the 100 million STG tokens will be locked for 12 months, followed by a linear unlock over six months.
Previously, in September 2021, LayerZero raised $6 million in a Series A funding round led by Multicoin Capital and Binance Labs.
