LayerZero Labs Launches on Astar Substrate

It has been announced that LayerZero Labs is now operational on Astar Substrate, an extension of Astar Network. It is well known that the L1 blockchain supports Wasm environments and EVM environments.

Moreover, the company has provided developers who can build on Astar access to the Build2Earn Program.

Furthermore, the collaboration is being supported by LayerZero through a Bug Bounty Program, which offers potential rewards of $15 million. In this context, users are tasked with identifying potential opportunities for security enhancements and other types of progress.

Currently, around $1 million has been disbursed by LayerZero to white hats who have engaged in the Bug Bounty Program.

In the future, LayerZero will be involved in efforts to consolidate its formerly operational $2 million bounty program into a more comprehensive framework.

The amalgamation of LayerZero and Astar Network has allowed developers to utilize omnichain capabilities between Astar and more than 49 distinct chains, with LayerZero endpoints optional.

Astar Network has stated that this is merely the start, indicating that preparations are progressing to expand the partnership in the coming days.

This development has been met with approval from the community, with the majority of members agreeing that Astar is a truly promising endeavor.

Members are optimistic that LayerZero’s recent partnership will compensate for the company’s sluggish development.

Since the introduction of ColorTrace, which is a practical implementation of colored coin problems, LayerZero has been in existence.

Moreover, through the new cross-chain metrics, LayerZero enables members to vote from any location while facilitating the smooth transfer of CAKE through the OFT Standard.

Astar Network is presently focused on the deployment of Tokenomics 2.0. The procedure has commenced, providing developers and users with two benefits.

These consist of decreased expenses for developers and fees for decentralized applications (dApps) for their consumers while minting non-fungible tokens (NFTs).

As evidenced by the increase in the trading value of ASTR, each development has a corresponding effect. The value of the native token has increased by 5.36% over the past twenty-four hours as of the writing of this article.

At this time, ASTR is being traded at $0.06531. This, however, represents a decline of 5.80% over the past week.

Nonetheless, the coin may recover in the following thirty days in a manner comparable to the 54.15 percent increase observed in the preceding thirty days.

Concurrently, Astar Network commemorates the achievement of dApp staking 43% of the circulation supply staked on-chain.

This represents approximately 21,000 members of the community supporting the endeavors of the team, which includes, among others, gamers, developers, and NFT artists.

Astar Network has recently surpassed another significant milestone by integrating 10,000 wallets onto its platform.

The subsequent objective is to transcend 20,000 wallets; however, no specific timeframe has been established.

The integration of Astar Substrate with LayerZero and Astar Network is highly compatible, particularly given the objective of enhancing omnichain functionality between Astar and over 40 additional blockchains that utilize LayerZero endpoints.