Tenet and LayerZero Team Up to Enhance Omnichain Adoption of LSDs

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Tenet, a DeFi-focused Layer-1 ecosystem built on the Cosmos network, providing liquidity and yield opportunities for liquid staking derivatives (LSDs), has just entered into a partnership with blockchain messaging protocol LayerZero.

According to the press release, as part of the cooperation, Tenet will make use of the LayerZero omnichain framework to secure connections with the rest of the blockchain ecosystem.

The first step will be to set up a LayerZero endpoint on Tenet, allowing users to create projects and tokens backed by LayerZero’s technology. As a result, Tenet will get access to a wide range of other networks powered by the protocol. It is important to note that the integration is already live on the Tenet network. 

Tenet’s LSDs, which can become true omnichain tokens thanks to LayerZero, will be another part of the cooperation.

In addition, Tenet intends to launch a bridge to be powered by LayerZero technology that will allow for these omnichain LSDs to be bridged between any chain within the LayerZero network.

After the full LayerZero integration is complete, the omnichain Tenet LSDs will be transferable, usable and redeemable in any of the networks supported by LayerZero.