JUST IN: A new academic study of 20 blockchains and 16 bridge protocols concludes that cross chain interoperability not only facilitates the movement of capital between networks, but also alters returns, reduces certain operating costs, and makes the ecosystem more interdependent and vulnerable to contagion when a key component fails.

The research distinguishes between structural interoperability, based on the deployed infrastructure, and active interoperability, based on the actual use of the bridges.
The authors identify a paradox: greater connectivity is associated with higher TVL (TVL), more users, and more contracts, but with lower returns for native tokens over the longer term.