State of LayerZero Q1 2024
Though blockchains are designed to be secure, it is difficult to communicate securely between networks. LayerZero is an interoperability protocol that allows secure communication between over 60 networks.In Q1’24, omnichain transfer volume on LayerZero surpassed $6.7 billion in assets, generating over $11 million from fees for Executors and DVNs. LayerZero V2 went live in January 2024, aiming to standardize communication and scale supported networks. A token launch is expected in the first half of 2024.