DAM integrates with LayerZero to bootstrap emerging chains stablecoin liquidity
We’re excited to share that d2O Asset Modules (DAM) has integrated its dReservoir with LayerZero to enable cross-chain teleportation of d2O to help emerging chains bootstrap stablecoin liquidity.
By launching d2O with LayerZero’s omnichain fungible token (OFT) standard, d2O can be teleported as a canonical asset to any chain, starting with Polkadot.
DAM’s integration presents a step forward in increasing stablecoin liquidity for emerging chains without the security risks or UX tradeoffs of traditional token bridges.
DAM’s dReservoir is slated to go live in Q4 2022. For progress updates follow us on @DAM_Finance.
About LayerZero:
LayerZero is an omnichain interoperability protocol that allows dApps to build across multiple blockchains in a trustless, efficient manner. LayerZero connects dApps across chains using on-chain Ultra Light Nodes, which achieve the security of a light node with the cost-effectiveness of a middle-chain. Using the protocol, developers can turn their dapps into omnichain-applications using a single, simple interface.
For more information visit: https://layerzero.network.
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About DAM:
DAM Finance (“DAM” or the “Protocol”) is a Web3 liquidity cartel for defining, influencing and transferring stablecoin liquidity across blockchain ecosystems. Protocol participants create d2O, DAM’s portfolio backed stablecoin, on any chain by borrowing against an expanding basket of tokens or swapping 1:1 with existing stablecoins. DAM presents a solution for global participating with ability to participate in local opportunities without existing UX and security risks of non-canonical tokens.
For more information visit: https://dam.finance
Medium post updated on December 5th with new stablecoin name d2O
