Technology
The "NOT" token is OFT.
Last updated
The "NOT" token is OFT.
Last updated
The "Not Eligible" token implemented under the OFT (Omnichain Fungible Token) standard allows the transfer of fungible tokens in an interoperable manner across multiple blockchains, without the need for asset wrappers or intermediate chains. This innovative standard operates by burning tokens on the source chain by initiating an omnichannel transfer, sending a message over the protocol and executing a function call to the destination contract to mint the same number of burned tokens, thus creating a supply unified across all networks supported by LayerZero.