Tracking the Growth of Omnichain Fungible Tokens (OFTs)

The Omnichain Fungible Token (OFT) standard was created by LayerZero Labs to serve as a multichain standard for fungible tokens. That is, an OFT is a catch-all fungible token standard that is compatible with the various established fungible token types that exist across chains. An OFT is interoperable with ERC-20s, BEP-20s, fungible tokens on Aptos, and more. Almost a year after the first OFT was created with the launch of Stargate Finance’s governance token, STG, OFTs are now beginning to gain material traction across the crypto economy.

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