LayerZero

LayerZero is an interoperability (omnichain) protocol that lets smart contracts send messages directly between different blockchains. It has no chain of its own; it operates through endpoint contracts deployed on each network it supports. ZRO is the protocol's token, distributed in 2024, and exists on many networks such as Ethereum, Arbitrum and BNB Chain.

For a message to be accepted on the destination chain, decentralized verifier networks (DVNs) chosen by the application itself need to approve it, after which an executor completes the transaction on the destination chain; this way each application sets its own security configuration. The OFT standard built on this infrastructure allows a token to circulate across multiple networks as a single supply without creating wrapped copies. ZRO is used in protocol governance; a fee switch that would tie protocol fees to ZRO is among the topics taken up in community votes.

The ZRO price may be sensitive to cross-chain message volume, projects issuing tokens through the protocol, scheduled token unlocks and security incidents affecting bridge infrastructure. The LayerZero page on Lzzo.com takes the price from ZRO/USDT trading on Binance and converts it into dollars at Coinbase Exchange's USDT/USD rate; the chart is drawn with this dollar-denominated series.