Penpie and LayerZero Labs Together Set to Enhance Versatility and Efficiency for Users

The next-generation decentralized finance (DeFi) company Penpie has embarked on an exclusive journey to enhance its versatility as well as efficiency. While attempting to provide its consumers with cutting-edge technology and services, the platform has integrated with the prominent omnichain interoperability forum called LayerZero Labs.

On the official Twitter channel thereof,  Penpie disclosed that the new initiative would be quite advantageous for the consumers. In addition to this, the company also discussed its latest partner. In this respect, it pointed out that the structure of LayerZero is suitable for dependable message transmission throughout diverse blockchains. As per Penpie, this provides a foundation for several applications within the DeFi sector.

It added that the adaptable scales of trustlessness possessed by LayerZero can potentially revolutionize the sectors such as media, gaming, lending, borrowing, and trading. Moreover, it mentioned that the platform adopted the standard of the omnichain fungible token (OFT) from LayerZero Labs. The respective token contract enables interoperability among blockchain platforms.

Additionally, the platform added, enables an unparalleled integration as well as remarkable token swaps through different DeFi ecosystems. OFT-20 standard is responsible for powering the native tokens of both partnering companies. In this way, the transactions can be conveniently performed between Arbitrum, BNB chain, and Ethereum.

The platform moved on to say that it has effectively employed the OFTV2 standard that would enable the transaction of both tokens into the non-EVM blockchain firms. As a result of this, the PENDLE and PNP holders can have additional opportunities in the future. This would additionally lead to more traction and adoption in the coming time.