Proposed Multi-Chain Bridging Solution for YAK: LayerZero

This proposal is to transition YAK into an OFT (Omnichain Fungible Token) to facilitate YAK's cross-chain expansion. Given current plans for YAK staking will be silo'd by chain (to earn that chain's share of platform fees), we expect YAK to be moving back and forth regularly to balance APRs, so a secure and low-fee solution is important.

LayerZero's OFT solution provides several benefits, notably:

• Reduced security risk by avoiding creating wrapped versions of the YAK token on each network
• Ability to charge 0 fees (besides gas costs) for moving the token across networks
• Battle-tested with many reputable projects already using this solution
• Users do not need to take any action (no migration)

One-pager on how the LayerZero OFT works and its benefits: https://tome.app/layerzero-labs/oft-1-pager-v0-cldwqsurl0cysbz3wkog5hlxi

Should this proposal pass, Yak Contributors will commence process of moving YAK to an OFT.