OFT (Omnichain Fungible Token) Standard product
Overview
The OFT (Omnichain Fungible Token) standard, developed by LayerZero, defines a token contract that exists natively on multiple blockchains. It enables fungible tokens to be transferred across chains without wrapping or minting/burning separate representations, maintaining a single unified supply. The standard uses LayerZero's cross-chain messaging to coordinate token balances across networks.
Within the DeFi Intel graph, OFT (Omnichain Fungible Token) Standard connects to 3 tracked entities, most strongly to LayerZero, USDT0 (Omnichain Tether), PayPal USD.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 3 of 3 total).
| Relation | Connected entity | Confidence |
|---|---|---|
developed_by | LayerZero | 90% |
used_by | USDT0 (Omnichain Tether) | 90% |
powers | PayPal USD | 70% |
Frequently asked questions
What is the OFT (Omnichain Fungible Token) standard?
The OFT standard, developed by LayerZero, defines a token contract that exists natively on multiple blockchains, enabling fungible tokens to be transferred across chains without wrapping or minting/burning separate representations, maintaining a single unified supply.
How does the OFT standard enable cross-chain token transfers?
The standard uses LayerZero's cross-chain messaging to coordinate token balances across networks, allowing tokens to be transferred without wrapping or minting/burning separate representations.
Which tokens are associated with the OFT standard?
The OFT standard powers PayPal USD and uses USDT0 (Omnichain Tether).