TON Blockchain Partners with LayerZero to Enhance Cross-Chain Operations
The integration will enable TON users to deploy tokens across various chains and improve connectivity.
TON Blockchain Partners with LayerZero to Enhance Cross-Chain Operations
Developers will be able to deploy tokens on TON from any of LayerZero’s chains using a single contract.
Highlights:
- TON users will be able to transfer tokens to other blockchains through the integration with LayerZero.
- Ethena’s flagship USDe stablecoin will launch on TON.
- Tether will introduce its new USDT0 stablecoin to the blockchain.
Layer-1 blockchain TON has announced its partnership with LayerZero, an interoperability protocol, enabling users to transfer funds across multiple blockchain ecosystems. This collaboration aims to boost both platforms’ usage and fees.
Initially, TON will connect with 12 other blockchains including Ethereum, Tron, and Solana. Users can transfer stablecoins to TON via Stargate, which recently handled $1.6 billion in volume, according to DefiLlama.
Additionally, LayerZero’s multichain liquidity feature will allow locked funds on different chains to be pooled, minimizing the risk of slippage—the price variation occurring during transactions—or outright failures.
With approximately $117 billion in total value locked (TVL) across all blockchains, liquidity fragmentation poses challenges. This collaboration seeks to address those issues by pooling liquidity.
Tether and Ethena are among the crypto companies leveraging this integration, with Ethena’s $5 billion asset, USDe, set to launch on TON, and Tether’s new USDT0 stablecoin being transferrable among TON, Tron, Ethereum, and Arbitrum with the Legacy Mesh.
Developers can also take advantage of this integration, as tokens can be managed on TON through one contract across LayerZero’s platforms.
TON originated in 2018 as a project within the messaging app Telegram. After Telegram discontinued its involvement in 2020, the project became independent. In September 2023, Telegram acknowledged TON and announced its integration into its app.
“TON is undeniably one of the most intriguing ecosystems currently,” said Bryan Pellegrino, CEO of LayerZero. “Following its exclusive partnership with Telegram, it now has potential access to nearly a billion users.”
