Fantom Foundation endorses Axelar and LayerZero bridge solutions amid Multichain concerns
“Both Axelar and LayerZero are current bridging solutions that are becoming popular choices amongst builders on Fantom,” the foundation
. “FDN [foundation] will continue to assist with awareness and encourage further development options as new assets are issued + adopted on the network.”that Multichain has historically driven much of the Fantom network’s total value locked and transaction volume, largely due to its early mover advantage. However, given the recent suspicious activities, the foundation is pushing to diversify into other bridge solutions.
"The Foundation will look to seed both Axelar and LayerZero issued asset pools directly with the bridges themselves to encourage protocol liquidity and confidence," it
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cross-Chain Protocol Axelar to Develop Web3 Services With Microsoft Azure.Axelarcore said further plans with Microsoft include connecting private and public blockchains that use OpenAI services to create Web3 products. By shauryamalwa
Read more »
Axelar partners with Microsoft for hybrid blockchain solutionsAxelar will be able to reach tens of thousands of Azure’s users and deliver blockchain technology “in ways that are meaningful for users.“
Read more »
Microsoft partners with Axelar on blockchain interoperability solutionsMicrosoft and Axelar, a crypto interoperability project, have entered into a partnership to offer blockchain interoperability solutions.
Read more »
Connext founder proposes ‘Sovereign Bridged Token’ standard after Multichain incidentThe proposal is intended to limit losses from events like the Multichain incident, where more than $100 million in unexplained withdrawals occurred.
Read more »
Twitter Phishing Scams Users After Multichain Hack | CoinMarketCapCryptoNews: Scammers have started spreading a phishing link on Twitter, falsely linking it to the recent Multichain hack. 🥸
Read more »
Multichain's ‘mysterious withdrawals’ have whiffs of a ‘rug pull’ — Chainalysis'Mysterious withdrawals' and potentially compromised administrator keys at Multichain could signal an internal rug pull, according to analytics firm chainalysis.
Read more »