LayerZero Bridged USDT ($LZUSDT) is a Tether stablecoin on Etherlink, bridged via LayerZero, pegged 1:1 to USD for cross-chain DeFi use. More
| Fully Diluted Valuation | $2.12M |
|---|---|
| 24H Trading Volume | $67,579 |
| 24H Low / High | $1.00 / $ 1.00 |
| Circulating Supply | 2.12M |
| Total Supply | 2.12M |
| Max Supply | ∞ |
| Categories | Bridged USDT 3 more |
|---|---|
| Founder | Anonymous |
| Website | layerzero.network Whitepaper |
| Socials | |
| Chains | Etherlink Ecosystem |
| Explorer | Etherlink |
| Contracts |
0x2c0....bfe6a
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| Name | Pair | OG Score |
|---|
LayerZero Bridged USDT ($LZUSDT) is a USD-pegged stablecoin integrated into the Etherlink network, a Tezos-based EVM-compatible Layer-1 blockchain, launched through LayerZero’s interoperability protocol. The token enables seamless cross-chain transfers of Tether’s USDT from other LayerZero-supported chains (e.g., Ethereum, BNB Chain, Avalanche) to Etherlink, using bridges like the Etherlink EVM bridge or IguanaDEX. Fully backed by Tether’s reserves, $LZUSDT maintains a 1:1 peg with the USD, ensuring stability for DeFi applications, payments, and liquidity provision.
Built on Etherlink’s high-throughput, low-cost infrastructure, $LZUSDT leverages LayerZero’s Ultra Light Node (ULN) technology, which uses decentralized oracles and relayers to facilitate secure, trustless asset transfers across blockchains. This allows $LZUSDT to support use cases like decentralized trading, collateral for lending protocols, and cross-chain liquidity pools. The token is primarily traded on IguanaDEX, with a USDT/USDC pair.
Etherlink’s integration with LayerZero enhances $LZUSDT’s role in bridging EVM and non-EVM ecosystems, such as Tezos and Aptos, fostering interoperability. The project benefits from partnerships with platforms like Stargate Finance and Trader Joe, which utilize LayerZero’s protocol for cross-chain DeFi. No major security issues specific to $LZUSDT on Etherlink have been reported, but the broader LayerZero ecosystem faced scrutiny after a 2023 Multichain exploit affecting other bridged assets, underscoring bridge security risks. Challenges include increasing liquidity, competing with established stablecoins like USDC, and navigating regulatory frameworks like MiCA. The vision is to make $LZUSDT a key stablecoin for Etherlink’s DeFi ecosystem, driving cross-chain adoption and scalability.
$LZUSDT is unique for its cross-chain bridging via LayerZero’s ULN, enabling USDT transfers between Etherlink and EVM/non-EVM chains like Tezos and Aptos. Its integration with Etherlink’s EVM-compatible Layer-1 offers low-cost, high-speed DeFi transactions, with IguanaDEX supporting trading despite low liquidity.
The founders are Anonymous, as no specific individuals are named for the bridged USDT implementation. LayerZero Labs, led by CEO Bryan Pellegrino, and Tether, overseen by its executive team, manage the broader infrastructure, with a decentralized development focus.
No specific backers for $LZUSDT are disclosed. LayerZero Labs raised $120 million in a Series B round in 2023 from investors like Andreessen Horowitz, Sequoia Capital, and PayPal Ventures, supporting its bridging infrastructure. Community-driven liquidity and Tether’s reserves back the token, with exchange support from IguanaDEX.
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