LandX Integrates LayerZero Technology For Cross-Chain Messaging
We have the pleasure of announcing a groundbreaking integration of LayerZero to enhance the composability and efficiency of our blockchain based agricultural commodity platform.
Innovative LayerZero Integration
LayerZero is renowned for its omnichain interoperability protocol, which facilitates the seamless realization of cross-chain applications. By integrating LayerZero's advanced technology, LandX can expand its reach, tokenizing products across multiple blockchain ecosystems.
Enhanced Functionality for LandX Tokens
This integration is used currently for the following tokens:
LNDX - LandX Governance Token
xSOY - Tokenized commodity vault for soy beans
xWHEAT - Tokenized commodity vault for wheat
xRICE - Tokenized commodity vault for rice
xCORN - Tokenized commodity vault for corn
xBASKET - Tokenized index fund of all four xTokensi
These tokens can be sent to a vault contract on Ethereum mainnet. The vault will stake the tokens where applicable and hold them securely, locked on Ethereum. LayerZero's technology is used to create a cross-chain message authorizing the mint of an equal amount of synthetic tokens on the L2 blockchain. This process is not just one-way; it can be reversed anytime. The synthetic L2 tokens can be sent back to a contract on L2, which then communicates via LayerZero to release the original tokens on the L1 Ethereum Mainnet.
The integration with LayerZero technology empowers our users with:
Enhanced Liquidity Trade tokens on your chain of choice and be free to move assets across different blockchains. Our belief is that LandX tokens should be available wherever our users want them.
Increased Efficiency Users can benefit from faster, cheaper and more reliable transactions on layer 2 blockchains. This makes LandX more financially inclusive and opens it up to users that may not want to pay mainnet gas fees.
Expanded Opportunities With the advent of zero knowledge technology we expect to see a new wave of L2 blockchain ecosystems evolve in the coming years. The adaptability of LayerZero allows LandX to be on these chains and grow with the expansion of decentralized finance.
This strategic move by LandX to integrate LayerZero is a stride towards a more interconnected and unified blockchain ecosystem. We are excited about the new possibilities this opens up for our users and the broader blockchain community.
About LandX
Bridging the agriculture financing gap, LandX provides upfront capital to farmers in return for a percentage of their future harvests. The financing is secured by the underlying farmland, offering investors an opportunity to earn sustainable yield backed by tangible assets.
About LayerZero
LayerZero stands as a beacon of innovation in blockchain technology, offering an omnichain interoperability protocol that is reshaping the landscape of cross-chain applications.
Article on the LandX blog at: https://medium.com/@landxfinance/landx-integrates-layerzero-technology-for-cross-chain-messaging-9b064af3409f
Website & App: https://landx.fi
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Medium: https://medium.com/landx
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Please note LandX products are not available to US users.
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