Enterprise capital agency a16z Crypto has acquired an extra $55 million price of LayerZero’s native token, ZRO, in line with an announcement on X.
The newly bought tokens might be topic to a three-year lockup interval, demonstrating the agency’s long-term dedication to the mission.
The transfer builds on a16z’s earlier backing of LayerZero, having led each the Sequence A+ and Sequence B funding rounds.
Normal Companion Ali Yahya described LayerZero (ZRO) as important infrastructure for a brand new onchain monetary system, noting that the protocol permits new enterprise fashions and complicated workflows to function throughout blockchain networks.
LayerZero positions itself as a foundational layer for interoperability, evaluating its function to that of TCP/IP for the web. It permits builders to construct purposes that operate seamlessly throughout a number of chains.
The protocol presently helps over 125 blockchains, facilitates 70% of stablecoin interoperability, and has processed greater than 140 million messages and $75 billion in quantity.
The announcement underscores rising investor confidence in infrastructure tasks that allow cross-chain performance. As blockchain adoption expands, LayerZero goals to turn out to be the default messaging protocol for connecting fragmented ecosystems in crypto.
On the information, ZRO jumped over 10%, in line with CoinMarketCap knowledge.
