Flare, a blockchain network providing decentralized data infrastructure, has joined LayerZero as a Decentralized Verifier Network (DVN). The integration will allow issuers using LayerZero’s Omnichain Fungible Token (OFT) standard to add Flare’s network-level verification to their cross-chain security systems.
The OFT standard is used by major issuers, including Tether, PayPal, Paxos, and Ondo. It supports more than 85% of cross-chain USD volume and has processed over $300 billion in transfers. Flare’s DVN is expected to go live on mainnet in early December, initially supporting Flare and Ethereum.
cryptonews.net