XION Joins Open Liquidity Network
XION joins the Open Liquidity Network to enhance liquidity and user experience.
Introduction
We're thrilled to announce that XION is joining the Open Liquidity Network (OLN), facilitated by Omni. The Open Liquidity Network has been growing at a rapid pace, with industry leaders such as Injective, Flow, and Mantle recently joining. XION strongly believes in the importance of open standards, and with this integration, XION tokens will become seamlessly accessible across all major rollups. This will greatly foster deeper liquidity and, consequently, enhance user experience across the board.
The Open Liquidity Network
The rapid proliferation of new blockchains has led to increased fragmentation across ecosystems in terms of both users and liquidity, creating barriers to seamless interoperability. It has also led to increased risks and complexities related to the bridging of funds. The Open Liquidity Network, an Omni initiative, is designed to increase adoption of open standards across the industry to tackle these issues.
One of the standout features of OLN is the introduction of the xERC-20 standard, which ensures native compatibility of tokens with any EVM (Ethereum Virtual Machine) chain. This innovation addresses the challenges of fragmented liquidity on Layer 2 solutions and safeguards token sovereignty from bridge vulnerabilities. Additionally, the network supports NFTs through the xERC-721 proposal and facilitates secure, seamless messaging between rollups via Ethereum-backed staking.
XION in the OLN
Integrating XION with the Open Liquidity Network unlocks a plethora of benefits. This integration not only provides unified liquidity for XION users, making transactions more seamless across all L2 chains, but also ensures the sovereignty of XION tokens. Moreover, it allows for smoother integration with new and emerging chains, enhancing the overall user experience and expanding the XION ecosystem’s reach. By combining XION's Generalized Abstraction capabilities with these benefits, it enables the development of next-generation cross-chain applications, and is one step further towards making Web3 accessible to users everywhere.
About Omni
Omni is the restaking-secured blockchain built to unite all rollups. By establishing a low-latency, high-throughput messaging network, Omni empowers developers to expand their applications across all rollups, unifying Ethereum’s liquidity globally. Omni is backed by $18M from prominent investors such as Pantera Capital, Two Sigma Ventures, and Jump Crypto.