IOTA has recently joined forces with LayerZero, indicating that the release of the IOTA EVM is imminent. This integration allows IOTA to be recognized as a chain on the LayerZero website, bypassing the EVM testnet and directly launching on the mainnet. The IOTA blockchain network’s integration with LayerZero’s mainnet is a significant advancement in blockchain interoperability.
The integration with LayerZero offers numerous benefits for IOTA, particularly in terms of enhancing its cross-chain capabilities. With this integration, IOTA tokens can now be bridged to other networks, increasing their accessibility and utility. Users will soon have the ability to transfer IOTA tokens across various blockchain platforms, significantly improving their liquidity and presence in the DeFi ecosystem.
The integration is expected to have a profound impact on decentralized exchanges (DEXs). IOTA’s presence on major EVM-compatible DEXs like Uniswap and Trader Joe’s is highly anticipated. This expansion will enable users worldwide to trade and interact with IOTA within the broader DeFi landscape.
In anticipation of the IOTA EVM release, projects like MagicSeaDEX and DeeprFinance are preparing their omnichain tokens to ensure compatibility with the new EVM environment. This will facilitate seamless integration and functionality within the IOTA ecosystem. The readiness of these tokens will likely coincide with the EVM release, ushering in an exciting phase of development and activity in the IOTA community.
While the integration and impending EVM release are significant milestones, there is speculation about additional features and developments that the IOTA Foundation may introduce. As an organization known for its innovative approach, it is expected that they have more advancements in store that have yet to be revealed. These potential developments could further enhance the functionality and appeal of the IOTA network.
By integrating with LayerZero, IOTA ensures that its tokens are not limited to a single network, promoting a more decentralized and inclusive approach to blockchain technology. This integration enables broader participation in the IOTA ecosystem, allowing users from various regions to engage with and benefit from IOTA’s offerings.
The IOTA EVM began with a soft launch on the Shimmer test network in March, laying the foundation for future endeavors. The IOTA 2.0 public testnet has recently been launched, signaling the platform’s evolution towards enhanced infrastructure. The IOTA 2.0 mainnet is tentatively scheduled for release around August this year, unlocking the potential of the $660 million ecosystem and enabling various applications in tokenization, DeFi, and decentralized identity.