LayerZero has lost a dozen partnerships this year

Blockchain interoperability project LayerZero has lost a dozen partners this year as its ZRO token shed a third of its value.

The latest departure, Ethereum node service provider Nethermind, ran one of the verifiers that LayerZero advertised to enterprise users. It migrated to one of LayerZero’s competitors and terminated its role as verifier on Wednesday.

It joins a long list.

• Kelp DAO exited LayerZero in May after it lost $292 million through a bridge that a single LayerZero verifier secured.
• Solv Protocol deprecated its LayerZero bridges two days later, with Re.xyz making the same move. 
• The following week, Kraken shifted its kBTC BTC-linked token off LayerZero, while Lombard pulled over $1 billion of BTC-backed assets one day later.
• Virtuals Protocol left LayerZero in June. Yuzu Money completed its exit in early July, and Mantle swapped out its Super Portal days later.
• BitGo took $7.7 billion of wrapped BTC out of LayerZero’s ecosystem in August.
• Huma Finance declined to use LayerZero for its product launched earlier this year.

Even the Wyoming Stable Token Commission, the lone state government in the pack of LayerZero partners, … Continue reading the full article at the original source below.