The partnership will see Tenet, a blockchain built on the Cosmos SDK, leverage the LayerZero omnichain framework to secure connections with the rest of the blockchain ecosystem, making it easy to transfer liquidity to and from Tenet.
In an exciting collaboration, Tenet, the innovative Layer-1 ecosystem dedicated to expanding the utility of liquid staking derivatives (LSDs), has joined forces with LayerZero, a prominent omnichain interoperability protocol valued at over $3 billion. This strategic partnership aims to revolutionize the adoption of LSDs across various blockchain networks.
Tenet, built on the robust Cosmos SDK, will leverage LayerZero’s comprehensive omnichain framework to establish seamless connections with other blockchain ecosystems. By doing so, the collaboration will enable effortless liquidity transfers to and from Tenet, empowering users with enhanced accessibility.
The initial phase of this partnership involves the integration of a LayerZero endpoint onto the Tenet network. This integration allows users to create projects and tokens backed by LayerZero technology, effectively connecting Tenet with a vast array of other networks powered by the protocol. This integration is already operational on the Tenet network.
The subsequent stages of this collaboration will focus on Tenet’s LSDs, which will be transformed into true omnichain tokens with the support of LayerZero. Tenet, renowned for its pioneering consensus model called Diversified Proof-of-Stake (DiPoS), is dedicated to enabling greater utility for LSDs from various chains. By utilizing LSDs as the staking asset, Tenet significantly bolsters the overall security of its network.
Furthermore, Tenet plans to launch a bridge powered by LayerZero technology, facilitating the seamless bridging of omnichain LSDs between any chain within the LayerZero network. The teams will also collaborate to introduce this groundbreaking technology to new chains integrated into Tenet’s network of LSDs, expanding the staking capabilities within the Tenet ecosystem.
With the complete integration of LayerZero, Tenet’s omnichain LSDs will become transferable, usable, and redeemable across all networks supported by LayerZero. This achievement ensures a smooth and secure experience for cross-chain liquid staking, eliminating barriers and positioning Tenet as the leading LSD ecosystem within the DeFi landscape.
The primary focus of the Tenet network revolves around establishing a vibrant decentralized finance (DeFi) ecosystem for LSDs—an aspect that has been lacking in similar initiatives thus far. Through Tenet, users can combine up to three distinct sources of yield, including the original asset’s yield, the yield from staking to Tenet, and the yield from Tenet’s DeFi protocols such as lending and decentralized exchanges (DEXs).
Greg Gopman, the co-founder of Tenet, emphasized the critical nature of the partnership with LayerZero, stating, “Our protocol is cross-chain native at its core. The integration not only connects our chain to the vast LayerZero network for cross-chain liquidity but also enables us to create truly omnichain LSDs for any asset. This reduces entry barriers and positions us as the leading LSD ecosystem within the DeFi sector.”
Tenet has successfully established key partnerships with major layer-1 chains and recently expanded into the Asian market through collaborations with Conflux and Qtum. The collaboration between Tenet and LayerZero represents a significant leap forward in the development of a DeFi ecosystem centred around LSDs.
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