Project LayerZero is an interaction protocol that connects different blockchains. The startup was developed with the help of cryptoproject incubator Binance Labs, which led a $6 million funding round for the project in the fall of 2021.
The bridge developers warn that not all of the features available in other bridges will work on the Aptos network in the first phase. This is due to the fact that the blockchain has just been launched, and it is necessary to make sure that transactions are secure.
All bridge transactions will initially have an outbound rate limit enabled (outbound amount of $1 million per 24 hours for each channel) and a 3-day transfer period for outbound transactions. Inbound Aptos transfers will have no rate limits and no time delays.
Also, the LayerZero team immediately announced a bounty for "white hackers" for finding vulnerabilities in the new bridge. The bounty is up to $2 million, but the final amount will depend on the importance of the bug found. Over time, the reward could be increased to $15 million - the amount is set for hackers who can find bugs in the LayerZero protocol itself.
The Aptos blockchain was launched on Oct. 18. The new network allows the development of applications in the Move language, which has increased security and reliability of the code. The development of this network raised $350 million. In the first minute after the opening of trading on Binance platform of APT token, its rate soared by 10,000%.
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