Thread by @KyleSamani

0/ We just co-led a round in @LayerZero_Labs along with Binance Labs, along with Sino, Defiance, Delphi, Robot, Spartan, Hypersphere, Protocol and Gen Block

We think LZ is one of the most compelling approaches to building bridges

coindesk.com/tech/2021/09/1…

1/ I've been thinking about the Web3 stack for a long time!

I wrote about it twice, once in 2018, and again in 2019

For the most part, I got it right

But the one layer of the stack I just totally missed was bridges

multicoin.capital/2019/12/13/the…

2/ Bridges are *hard*. And complicated. And difficult to reason about

Fortunately @dberenzon recently wrote an amazing overview of the current landscape of bridges

medium.com/1kxnetwork/blo…

3/ We are drawn to LZ's approach for a few reasons

a) it is the simplest approach we've seen yet. As a general rule, simplicity is undervalued in all complex technical things

b) it is trust-minimized

c) it's flexible and easily adaptable across EVM, Solana, and others

4/ Most of the conversations around bridging today are either around asset transfer (eg wETH on Solana), or about value transfer (eg trading ETH for BTC over Thorchain)

LZ generalizes across both of these use cases, and more

5/ What exactly does "more" mean? Examples

a) Execute atomic trades across multiple liquidity pools
b) use collateral in one venue (eg optimism) to take a loan out in another (eg arbitrum)
c) vote and execute DAO proposals from wrapped tokens across many chains

And tons more

6/ LZ is available for developers to play with now, and is launching on mainnet in the next few weeks

7/ We are extremely excited to back Bryan and Ryan on building out this vision. They are some of the most impressive entrepreneurs we've ever met, and can't wait to see how they build out LZ to make cross-chain movements more fluid than ever

{fin}