LayerZero, an advanced omnichain interoperability protocol, and Tenet, a pioneering Layer-1 ecosystem centered on liquid staking derivatives, have joined forces to introduce the Tenet Bridge. Leveraging LayerZero's advanced capabilities, this collaboration facilitates seamless integration between liquid staking derivatives (LSDs) and the Tenet network, bridging various chains within the LayerZero ecosystem. The Tenet Bridge significantly expands decentralized finance (DeFi) by bringing omnichain compatibility to LSDfi.

The operational Tenet Bridge on the Tenet mainnet enables the transfer of LSDs from six different chains within the LayerZero network to the Tenet ecosystem, marking a significant milestone. This advancement sets the stage for Tenet's stablecoin, LSDC, and upcoming restaking services. Noteworthy LSDs such as rETH, stETH, ankrBNB, MaticX, and prominent stablecoins like DAI, USDT, and USDC are compatible with the bridge.

The Tenet Bridge stands out for its ability to extend beyond the immediate network, allowing TENET tokens to be sent to networks with LayerZero endpoints. This launch coincides with the release of TENET's Omnichain Fungible Token (OFT) version. Holders can seamlessly migrate from the old ERC20 version of TENET to the new OFT version via a dedicated migration portal, with liquidity transitioning from ERC20 to OFT versions on the Ethereum network.

Gareth Fenney, DeFi Architect at Tenet, lauded the launch, highlighting the opportunities it offers LSD holders and commending LayerZero's technology for enabling innovative product development within a reliable framework.

Seena Foroutan, Global Head of Business Development at LayerZero, echoed the excitement, underscoring how Tenet's initiatives align with the vision of an omnichain future. LayerZero's capabilities strategically promote network interoperability and innovation.

The Tenet Bridge and TENET OFT contract underwent comprehensive public testing before deployment on the mainnet, marking a significant step toward Tenet's mainnet launch and a pivotal moment in the beta testing phase. The upcoming lockdrop campaign will enable LSDs to be recreated on Tenet's validator network, offering increased yield and participation in ecosystem governance. Additional details about Tenet's lockdrop launch campaign will be disclosed in the coming weeks, encouraging stakeholders to stay informed and engaged.

The migration portal, available at migrator.tenet.org, facilitates a seamless transition for previous $TENET ERC-20 token holders to the new $TENET OFT version, unlocking the capabilities of the bridge. Successful completion of liquidity migration from Uniswap to the new TENET OFT version ensures a smooth transition for token holders.

The partnership between Tenet and LayerZero heralds a new era of interoperability, expanding possibilities for decentralized finance and fostering increased utility and innovation within the blockchain ecosystem.