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LayerZero Labs

layerzero.network

Founded Year

2021

Stage

Shareholder Liquidity | Alive

Total Raised

$143.3M

Mosaic Score
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

+140 points in the past 30 days

About LayerZero Labs

LayerZero is an omnichain interoperability protocol that allows dApps to build across multiple blockchains in a trustless, efficient manner. LayerZero connects dApps across chains using on-chain Ultra Light Nodes, which achieve the security of a light node with the cost-effectiveness of a middle chain. Using the protocol, developers can turn their dapps into omnichain-applications using a single, simple interface. The firm was founded in 2021 and is based in Vancouver, Canada.

Headquarters Location

Vancouver, British Columbia,

Canada

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Research containing LayerZero Labs

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned LayerZero Labs in 3 CB Insights research briefs, most recently on Jul 29, 2022.

Expert Collections containing LayerZero Labs

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

LayerZero Labs is included in 2 Expert Collections, including Blockchain.

B

Blockchain

7,966 items

Companies and startups in this collection leverage blockchain technology for crypto trading, decentralized finance (DeFi), NFTs, and more.

U

Unicorns- Billion Dollar Startups

1,201 items

LayerZero Labs Patents

LayerZero Labs has filed 1 patent.

The 3 most popular patent topics include:

  • Electric power distribution
  • Electrical engineering
  • Electrical safety
patents chart

Application Date

Grant Date

Title

Related Topics

Status

3/27/2018

10/2/2018

Safety equipment, Electrical engineering, Electric power distribution, Underwater diving safety equipment, Electrical safety

Grant

Application Date

3/27/2018

Grant Date

10/2/2018

Title

Related Topics

Safety equipment, Electrical engineering, Electric power distribution, Underwater diving safety equipment, Electrical safety

Status

Grant

Latest LayerZero Labs News

LayerZero reaches a complete equity buy-out agreement with FTX and Alameda

Nov 11, 2022

LayerZero reaches a complete equity buy-out agreement with FTX and Alameda November 10, 2022, 8:28PM EST November 10, 2022, 6:41PM EST November 10, 2022, 6:34PM EST November 10, 2022, 6:30PM EST LayerZero reaches a complete equity buy-out agreement with FTX and Alameda Quick Take LayerZero Labs issued a letter saying it has come to an agreement with FTX, FTX Ventures and Alameda for a complete equity buyout. It held $11.5 million on crypto exchange FTX and has written that down to zero, but expects to receive some sort of compensation in the future. LayerZero claims it is well-capitalized with approximately $134 million, mostly in cash and stablecoins. LayerZero Labs, a cross-chain messaging and bridging startup, said it has come to an agreement with FTX, FTX Ventures and Alameda Research for an equity buyout. LayerZero Labs had raised a Series A+ round led by Sequoia Capital, a16z and FTX Ventures in March and was valued at $1 billion. In a letter issued to investors and later shared on Twitter, LayerZero Labs said the deal includes the entirety of FTX's equity position, token warrants and “any and all agreements" between the firms. Although LayerZero claims it is well-capitalized with approximately $134 million — 90% of which is in cash or stablecoins — it held $11.5 million on FTX. “For the sake of sanity we’ll treat this as a $0 for the moment, although presumably some amount on the dollar is likely recoverable,” the letter said. Although LayerZero took a hit, co-founders Bryan Pellegrino and Ryan Zarick claim to have at least seven years of financial runway with their current holdings. In May, The Block revealed that LayerZero Labs had been seeking fresh funding in a round that would have valued it at $3 billion — but the deal is yet to close. In an acquisition separate from its equity buyout, LayerZero purchased all of Alameda’s exposure to Stargate, a protocol under the LayerZero Labs umbrella, by buying all of its locked STG tokens. Alameda had acquired these tokens in March during the STG public token sale, a controversial action as they bought the entire supply in the first available block and had been farming and selling the token. The total amount available was $25 million. Alameda locked the purchased STG tokens which emitted yield in the form of more STG. It then proceeded to sell the tokens it received from staking in various transactions like this one. Former Alameda co-CEO Sam Trabucco had tweeted earlier on the same day Alameda made its first sale of STG it had received from farming — not its purchased STG it had locked — "we won't be selling any of the tokens we bought for at least 3 years. "  © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Sign up for our daily Newsletters Also receive our FREE weekly Data & Insights Newsletter

LayerZero Labs Web Traffic

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LayerZero Labs Frequently Asked Questions (FAQ)

  • When was LayerZero Labs founded?

    LayerZero Labs was founded in 2021.

  • Where is LayerZero Labs's headquarters?

    LayerZero Labs's headquarters is located at Vancouver.

  • What is LayerZero Labs's latest funding round?

    LayerZero Labs's latest funding round is Shareholder Liquidity.

  • How much did LayerZero Labs raise?

    LayerZero Labs raised a total of $143.3M.

  • Who are the investors of LayerZero Labs?

    Investors of LayerZero Labs include FTX Ventures, Alameda Research, Sino Global Capital, Tiger Global Management, Andreessen Horowitz and 19 more.

  • Who are LayerZero Labs's competitors?

    Competitors of LayerZero Labs include Toposware and 1 more.

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