Synthr Protocol, a cross-chain interoperability and liquidity protocol, announced its integration with LayerZero. This integration allows SYNTHR's multichain deployments to communicate with one another.
Synthr is a platform that allows users to mint synthetic assets (syAssets) by putting up collateral, such as stablecoins. The syAssets are traded against stablecoins through automated market makers (AMMs). The Global Debt Model of SYNTHR allows it to track debt across all chains and mint synthetic assets on any chain. With the LayerZero integration, users on SYNTHR can create cross-chain collateralized debt positions (CDPs) and trade futures, perpetuals, and options across chains.
The protocol is still in development phrase, it will launch in a number of major Layer 1 chains including Ethereum, BSC, Polygon, Arbiturm, Avalanche, according to its website.