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L3 is Live on Solana Powered by Wormhole

Oct 10, 2024

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by Layer3 Team

We're thrilled to announce that our native token, $L3, is now available on the Solana network. This expansion, made possible by Wormhole's Native Token Transfer (NTT) framework, marks a significant milestone in our journey towards true cross-chain interoperability and utility.

Bridging Ecosystems

Our integration with Solana opens up exciting new possibilities for $L3 token holders. You can now optionally transfer your $L3 tokens between Ethereum Virtual Machine (EVM) chains and Solana using Wormhole's Portal Bridge. This seamless transfer process ensures that our token maintains its intrinsic properties across different blockchain ecosystems, effectively preventing liquidity fragmentation.

Unified Distribution Network

By extending $L3 to Solana, we're positioning Layer3 as a unified distribution network, addressing one of the most pressing challenges in the blockchain space: fragmented attention across multiple chains. This move allows us to tap into Solana's thriving DeFi ecosystem while maintaining our strong presence on EVM-compatible chains.

Key Points

  1. Multichain Utility: You can now leverage your $L3 tokens across a wider range of platforms and applications.

  2. Preserved Value: Ethereum and Solana $L3 tokens are pegged 1:1, maintaining consistent value across ecosystems.

  3. Enhanced Liquidity: By preventing fragmentation, this integration could potentially lead to improved liquidity for $L3.

Looking Ahead

This expansion to Solana is more than just a technical achievement for us; it's a strategic move that positions Layer3 at the forefront of cross-chain innovation. As blockchain technology continues to evolve, we're committed to leading initiatives that pave the way for a more interconnected and efficient decentralized ecosystem.

To bridge your $L3 tokens to Solana, visit Portal Bridge and join our growing community of users exploring the expanded utility of $L3 across chains.

We're excited to continue bridging gaps between different blockchain networks, and you can expect to see even more innovative developments from us that enhance your experience and drive adoption of decentralized technologies.

Note: Staking yield is currently only available on Ethereum