The Open Network (TON) has achieved a significant milestone in scaling crosschain capabilities by announcing a new integration with a major interoperability protocol, LayerZero.
Key Partners of the Integration
The integration with LayerZero involves partnerships with USDT, the synthetic stablecoin Ethena, and the crosschain bridge protocol Stargate. These partners enable the transfer of tokens like USDT from Ethereum, Tron, and other supported networks directly to the TON blockchain. The Stargate platform acts as an entry point for users to bridge their assets.
Connecting TON to the USDT Ecosystem
This development is not TON's first crosschain integration effort. The TON Foundation has been actively bridging its ecosystem across many blockchains in recent years. The integration with LayerZero plays a key role in connecting TON to the USDT ecosystem, becoming an integral part of the bridging hub for the largest stablecoin.
TON as the Fourth Largest Network for USDT
TON's integration with LayerZero represents significant potential for TON to tap into the massive supply of USDT running on Ethereum and Tron. According to transparency reports, the net circulating supply of USDT on these blockchains amounts to $136 billion. After launching on TON in April 2024, USDT experienced rapid growth, reaching $1.4 billion in circulation.
The integration with LayerZero marks a significant step towards expanding TON's capabilities and solidifying its position as a crucial part of the USDT ecosystem and other blockchains.
