Omnichain Fungible Token (OFT) Standard product
Overview
The Omnichain Fungible Token (OFT) Standard is a token standard developed by LayerZero that enables a single fungible token to be transferred across multiple blockchains without wrapping or synthetic assets. It leverages LayerZero's cross-chain messaging protocol to coordinate token supply across chains via burn/mint or lock/unlock mechanisms.
Within the DeFi Intel graph, Omnichain Fungible Token (OFT) Standard connects to 2 tracked entities, most strongly to LayerZero Labs, USDT0 (Omnichain USDT).
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 2 of 2 total).
| Relation | Connected entity | Confidence |
|---|---|---|
developed | LayerZero Labs | 95% |
built_on | USDT0 (Omnichain USDT) | 85% |
Frequently asked questions
What is the Omnichain Fungible Token (OFT) Standard?
The Omnichain Fungible Token (OFT) Standard is a token standard developed by LayerZero that enables a single fungible token to be transferred across multiple blockchains without wrapping or synthetic assets.
How does the OFT Standard coordinate token supply across chains?
It leverages LayerZero's cross-chain messaging protocol to coordinate token supply across chains via burn/mint or lock/unlock mechanisms.
What is built on the OFT Standard?
USDT0 (Omnichain USDT) is built on the OFT Standard.