Interoperability protocol LayerZero is preparing to launch Stargate, a protocol for swapping tokens across different blockchains.
The Stargate protocol is an application created on top of the LayerZero protocol, which aims to enable the transfer of funds between several blockchains.
Ahead of the launch, LayerZero is opening up a public sale of native tokens on the Stargate bridge.
LayerZero is auctioning off 10% of the total token supply of stargate tokens, some 100 million tokens, which will be sold in an auction using a bonding curve.
The 100 million stargate tokens sold during the auction will be frozen for up to a year followed by another six months of linear vesting.