USD₮0 is unifying liquidity across chains and creating an even stronger capital base for XRP DeFi. This is a great step forward in improving Flare users’ ability to quickly and easily send money. They are now able to send USD₮0 transactions as fee-less transfers.
Since going live back in January, over $2 billion USD₮0 has been bridged on-chain. The technology is powered by LayerZero’s Omnichain Fungible Token (OFT). It allows for borderless, gasless instant transfers between the largest blockchains including Ethereum, Arbitrum, Optimism, Sei and Flare.
USD₮0 sets itself apart in that it does not need or use wrapped tokens or third-party bridges for any transfers. This design decision is critical to ensuring security and efficiency, building higher levels of trust and reliability across the entire DeFi ecosystem.
Sending USD₮0 transactions is completely free with Flare. This feature stands to meet a significant demand for low-cost, easy-to-access financial services. This accessibility feature has been a game changer for users in developing countries. It prevents exorbitant transaction fees, which frequently serve as a cost prohibitive barrier to participation.
The swift embrace of USD₮0 as DeFi liquidity standard highlights its utility and promise. USD₮0 provides a fast, easy, and secure solution for moving value across separate chains. In doing so, it is positioning itself to be an influential force in the future of decentralized finance.
USD₮0 unifies liquidity across chains and establishes a robust capital base essential for XRP DeFi. - Hugo Philion, Co-Founder and CEO of Flare
With USD₮0 natively integrated into the Flare network, exciting new opportunities for developers and users will be truly unlocked. Its groundbreaking approach to cross-chain operability is raising the bar for the entire industry.
