The Open Network platform, known as TON, has integrated with the interoperability protocol LayerZero to enable cross-chain transactions between Ethereum, Tron, Solana, and potentially 100 other blockchains in the future, as reported by The Block.
The partnership aims to address the issue of “limited liquidity” by providing seamless access to other major crypto projects.
“TON is now able to ensure sustainable liquidity and enhance the accessibility of its ecosystem, creating conditions for mass adoption,” the press release states.
Key partners utilizing LayerZero’s infrastructure on the TON blockchain include Tether, Ethena, and the cross-chain bridge Stargate.
“The integration represents a significant step forward for TON in uniting ecosystems and enhancing interoperability in the broader cryptocurrency space,” said Max Persoffsky, COO of TON Foundation.
According to him, developers now have “all the necessary tools to create decentralized applications aimed at a truly global audience.”
As reported by CoinDesk, in the initial stages, TON will connect 12 popular blockchains. Market participants will be able to transfer stablecoins between ecosystems via Stargate.
At the time of writing, Toncoin is trading around $3.79 (ranked 18th on CoinGecko with a market cap of $9.45 billion).
Back in January, Telegram and TON Foundation required embedded Web3 applications to exclusively use The Open Network.