Tapioca

TapiocaDAO is a decentralized autonomous organization building an omnichain money market that operates on the LayerZero protocol. This structure allows users to lend, borrow, and leverage assets across more than 17 different blockchain networks, including both EVM and non-EVM chains, without the need for traditional bridges. The platform's goal is to address liquidity fragmentation in the decentralized finance (DeFi) ecosystem by enabling seamless cross-chain transactions.

The project was founded in 2022 by a group of 15 individuals described as passionate DeFi users. It is registered as a Cayman Islands Foundation. As of June 2023, TapiocaDAO had raised $6 million in a seed funding round from investors including LayerZero Labs, PARC Capital, Jones DAO, and Magnus Capital. A subsequent public sale in June 2024 raised an additional $8.3 million.

Tapioca's core products include "Singularity," an isolated risk borrowing and lending market, and "Yieldbox," a permissionless token vault. The platform's native, over-collateralized stablecoin, usd0, is a key component. It is the first omnichain stablecoin built on LayerZero's OFT (Omnichain Fungible Token) standard, allowing it to be transferred across chains without incurring fees, slippage, or delays typical of bridged assets. The governance and utility token of the ecosystem is TAP, which has a fixed total supply of 100 million. The protocol avoids traditional liquidity mining, instead using a model called DAO Share Options (DSO) where users receive oTAP call options as incentives.

Keywords: omnichain money market, decentralized finance, LayerZero, cross-chain lending, stablecoin, usd0, liquidity fragmentation, protocol owned liquidity, DeFi protocol, TAP token, DAO, blockchain interoperability, Singularity, Yieldbox, crypto borrowing, crypto lending, decentralized autonomous organization, omnichain stablecoin, cross-chain composability, web3