Layerzero is about to issue a coin. Can Holograph represent the "full chain" narrative and stand out from the crowd?

“Fragmentation” and “sense of separation” are probably the common concerns many people have about Ethereum. L2 Eco first impression.

Along with the market L2 Ecosystems and other EVM-compatible projects are becoming more and more numerous, but the Ethereum ecosystem is becoming increasingly fragmented. Especially for users, in actual cross-chain operations, faced with bridges that have their own advantages, how to choose the one with the lowest cost and the best experience is undoubtedly a headache.

From this perspective, it is important to ensure that all EVM environments remain the same.contractAddress andToken Based on ID, facing all forms of pan-EVM ecologyTokenHolograph’s full chain (FT and NFT)TokenThe architecture is worth talking about, and it seems to be one of the biggest certainties in the direction of the entire chain of the pan-EVM ecosystem.

This article aims to focus on the increasingly popular "application chain" track, and combine the new exploration ideas of players such as Bifrost to get a glimpse into the deep code of how the next stage of the "application chain" may begin.

Holograph: A full-chain tokenization protocol for the pan-EVM system

According to DeFiLlama statistics, as of June 8, 2024, the total locked amount of the DeFi ecosystem on the entire network exceeded 106 billion US dollars, of whichEthereum, BNB Chain, Arbitrum and other pan-EVM networks have attracted more than 70% of funds, occupying the largest share.

At the same time, within the pan-EVM system,The traffic originally gathered on Ethereum was divided up step by step, forming isolated islands of value., and EVM is compatible with public chains and L2 The number of them is increasing. In this context, the internalCross-chain will undoubtedly continue to be a rigid demand, and the fragmentation of cross-chain liquidity will further increase..

As a full-chain tokenization protocol based on LayerZero, Holograph has a simple core vision.Enables asset issuers to mint native, composable, full-chain tokens for the pan-EVM system:

Different from traditional packaged token cross-chain products, the biggest feature of Holograph isAllow asset issuers to use all EVM BlockchainUse unique and identicalcontractAddress and Token ID, making it a clear identification feature of the token, while ensuring that the corresponding full-chain token is compatible with different EVMsBlockchainThere is uniform fluidity between them.

而这主要是基于 Holograph 创世合约的跨链部署架构——Allows all subsequent contracts to be derived from them, and they remain the same regardless of where the contract address is deployed, allowing the protocol to support all existing and future EVM chains.

For example, if you are an asset issuer and want to issue a full-chain asset called LIZI, you can directly use Holograph's universal token framework to issue a unique LIZI token on all EVM-compatible chains including Ethereum, BNB Chain, Arbitrum, Optimism, Base, etc.

LIZI has a unified contract address and ID name on all chains, and it is not only the same as the existing EVM chain,Even if new L2 or EVM-compatible chains are launched later, unified names and token contracts can be deployed directly on these new networks..

At the same time, tokens on different chains can be flexibly transferred at any time, and the total amount of the entire network is guaranteed to remain unchanged, and the balance of each chain can be changed instantly. The working principle behind it is also very simple:

During the cross-chain transfer process, LIZI tokens are first burned on the source chain, then a message is sent to the target chain via the message protocol, and then the same number of tokens are resent to the same contract address.This not only unifies liquidity and eliminates slippage, but also maintainsBlockchainInterchangeability between them.

In short, they keep the same contract address and token ID in all EVM environments, allowingBlockchainPerfect transfer between.

Pan-EVM full-chain token architecture

Holograph's full-chain token architecture for the pan-EVM system is also a complete asset issuance solution. The bottom-level consensus layer covers all existing EVM-compatible networks such as Ethereum, Polygon, Avalanche, Optimism, Base, etc., and future new EVM networks can also be integrated instantly and quickly.

Then, cross-chain information transmission is realized based on LayerZero, and on top of this is the tokenized liquidity layer of Holograph, which further provides a complete set of development tool support including Holograph SDK and Holograph CLI to asset issuers and demanders.

This also meansAny asset issuer can deploy the main protocol on Ethereum through Holograph, and then derive and deploy the same token contract on other EVM chains to complete seamless full-chain expansion..

Among them, the full-chain tokens minted based on Holograph also have unified liquidity. When users perform cross-chain operations, remote cross-chain message transmission will be realized through LayerZero, and the main protocol and other networks will be destroyed and re-minted synchronously, which also avoids the sense of fragmented liquidity. There will no longer be a split due to which chain the liquidity exists on.

at the same time,Whether it is for existing project parties that have issued single-chain tokens or asset issuers that plan to launch full-chain tokens in the future, Holograph can provide corresponding customizable infrastructure for full-chain token creation, deployment and transfer.:

• Create a standard full-chain token. Deploy native composable Fungible Tokens (FT) and Non-Fungible Tokens (NFT), which are instantly destroyed on the source chain and then minted synchronously on the target chain;
• Creating a custom full-chain token. Deploy new custom full-chain token implementations that can interoperate in unique ways across multiple EVM execution environments;
• Modify existing tokens to full-chain tokens. By locking existing tokens on the source chain and then minting full-chain tokens on the target chain, the existing tokens become full-chain tokens;

In addition, as mentioned above, Holograph's deployment not only includes common homogeneous tokens, but also allows asset issuers to deploy NFT assets in full-chain form, which expands the scope of use cases to a wider range of games, RWAs, and memes, allowing asset issuers to create any type of programmable assets.

• For example, traditional financial institutions can directly use Holograph to issue stablecoins on commonly used chains such as Ethereum and Polygon.Xiaobai NavigationTokenized products of fixed currencies, government bonds and real estate to manage liquidity in a unified manner;
• Game projects can also issue in-game assets with a full-chain architecture on different chains, making it convenient for users to switch between different blockchain networks freely;
• Digital creators can freely choose the appropriate network to publish NFT artworks on the chain to promote their sales;

From an operational perspective, as ordinary users, we are almost unaware of the "cross-chain" process, and we can directly and instantly cross-chain assets on different chains.

This process not only supports one chain in and one chain out, but also supports multiple chains in and one chain out, which can realize the aggregation and cross-chain of users' multi-chain funds. This is also similar to centralizedexchangeCross-chain experience.

Investment, Financing and Data

In April, Holograph just completed a new round of strategic financing of US$3 million, led by Mechanism Capital and Selini Capital, with participation from Hal Press's Northrock Capital, Arca, Courtside Ventures and Hartmann Capital, bringing Holograph's total financing to US$11 million.

Since its launch in early 2023, Holograph has generated more than 14 million transactions, minted more than 10 million tokens using LayerZero, and sent more than 2.6 million messages. As of the time of writing, Holograph has become one of the leading full-chain applications in the LayerZero ecosystem.

Tokenomics

On May 10, Holograph launched its native token HLG and announced its token economics, with a total supply of 10 billion and an initial circulation of 1.525 billion (accounting for 15.25%).

The specific token distribution is mainly divided into 6 parts: 25% of the total supply is allocated to the ecosystem and incubator, 23.4% is allocated to the core development team, 21.18% is allocated to strategic network participants, 15% is allocated to the foundation treasury, and 10% is allocated toCommunityWith Launch, 5.42% is assigned to long-term consultants.

At the same time, the overall distribution cycle of HLG is 48 months, which will last until May 2028. It is worth noting that the circulation of HLG will not exceed 50% before 2026, which meansIn the next year and a half, the new selling pressure of HLG will be relatively stable..

Coingecko data shows that as of June 8, the circulating market value of HLG was only US$28 million, which is only about 25% of Stargate (STG), the leading cross-chain protocol in the LayerZero ecosystem. From this perspective, with the catalysis of LayerZero's coin issuance in the future, Holograph, as a sub-project of the ecosystem, cannot rule out capturing direct capital spillover dividends.

summary

For the Web3 world, the pan-EVM system not only currently occupies a mainstream position, but will continue to be the main axis of innovation in the foreseeable future.

Therefore, how to help pan-EVM products and users achieve seamless,SafetyTransfer of assets, especially guaranteesThe cross-chain speed is fast enough, there is sufficient cross-chain liquidity, and it supports one-click interoperability of assets between multiple chains.SafetyA series of user experience optimizations are the key to differentiated competition with massive cross-chain competitors.

This is also Holograph’s vision: it is striving to become the preferred trust-minimization technology provider for the pan-EVM system, thereby simplifying the workload of building full-chain applications and building critical interoperability infrastructure for the future multi-chain world.

From this perspective, this is currently the most direct way to implement the full chain compared to other full-chain/cross-chain products. It is not ruled out that it will be a node for the pan-EVM system to break the current fragmented liquidity situation and truly reach out to users.

Narratives are sexy and have a promising future. Let’s wait and see whether “pan-EVM full-chain narrative” can truly usher in its own era this year.

The article comes from the Internet:Layerzero is about to issue a coin. Can Holograph represent the "full chain" narrative and stand out from the crowd?

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