September 17, 2024

LayerZero integrates peaq, enabling access to liquidity from 90+ blockchains for all its DePINs

peaq

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In a nutshell: LayerZero has integrated peaq, connecting the home of DePIN with liquidity and data on more than 90 blockchains. This unlocks boundless possibilities for DePINs on peaq, makes it easier for projects to migrate to peaq from other blockchains, and enabling a variety of future integrations. You will be able to bring your liquidity from other ecosystems to peaq and will see more cross-Web3 collaborations and opportunities.

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No (successful) chain is an island

Those of you who’ve been following peaq for a while know that Web3 interoperability is a major part of its vision. Web2 has already shown that siloed ecosystems result in a skewered power balance and hindered progress. Web3 should learn from the mistakes of its predecessor and put the emphasis on interconnectivity and the spirit of collaboration. Innovation doesn’t happen in vacuum, after all, and doesn’t thrive without adopters and users.

In other words, peaq is all about building bridges, not walls, so this integration makes all the sense in the world. From the moment of peaq’s mainnet launch, LayerZero, the leading omnichain interoperability protocol, will have integrated peaq. The integration connects the DePINs on peaq, which is currently in its pre-launch stage, with more than 90 blockchain ecosystems. It empowers DePINs on peaq to seamlessly connect with and access liquidity and data across all supported blockchains, like a portal into the wider Web3.

LayerZero enables decentralized applications to go omnichain, seamlessly exchanging data through its messaging protocol. It provides DePINs on peaq with an all-in-one endpoint for communicating with some 54,000 omni-apps across Web3. Through LayerZero, DePINs on peaq can list their tokens on leading decentralized exchanges like Uniswap, interact with DeFi protocols such as Curve and AAVE, and connect with various other Web3 platforms.

The integration greatly expands the utility of peaq-native DePINs’ tokens, enabling their participants to do more with the rewards they get for providing real-world services. It also makes it easier for DePINs building on other layer-1s to leverage peaq for some of their functionalities or fully migrate to the home of DePIN.

“The DePIN sector sets Web3 on a promising new course, and peaq as the leading DePIN blockchain in the space is obvious. DePINs stand to gain a lot from the wider Web3 access, amplifying their core offering of linking Web3 with real-world value with the unmatched versatility of DeFi. We are happy to provide this capacity to DePINs building on peaq.”

— Kenny Zhang, Ecosystem Growth Lead at LayerZero

“We believe that interoperability is one of the crucial advantages Web3 has over Web2. For DePINs, the ability to exchange data and liquidity with any dApp across Web3 is a vital power multiplier giving them a competitive edge over Web2 incumbents. The LayerZero integration gives DePINs on peaq this edge, linking them with the wider Web3 and advancing peaq’s standing as the home of DePIN.”

— Leonard Dorlöchter, co-founder of peaq

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