Stader Joins Chainlink CCIP for Liquid Staking Across Chains

chainlink3

Advertisements

Stader, a well-known liquid staking forum, has recently announced integrating Chainlink CCIP. The integration of the industry standard concerning the safe interoperability of Chainlink CCIP on Arbitrum and Ethereum mainnets emerges as a milestone for the platform. As a result of this integration, the company will leverage the capabilities of CCIP regarding simple token transactions.

Stader Integrates Chainlink CCIP to Enable Liquid Staking Across Chains

In addition to this, the integration facilitates the transactions of ETHx across the chains. This enables a comparatively secure and matchless user experience for Stader. With this, the platform also sponsors the ETHx/ETH Chainlink Price Feed. The respective development permits the wider adoption of ETHx across decentralized finance. While discussing this, the company mentioned that it chose CCIP as its prioritized interoperability solution.

As per the firm, Chainlink has a majorly validated track record concerning the maintenance of the highest reliability and security. It added that the company possesses a prominent position among the entities in the Web3 world. Moreover, CCIP gets support from the Risk Management Network. It is a distinct autonomous network to continually monitor and validate suspicious operations across the chains.

Advertisements

Following the review of diverse solutions, Stader added, that it integrated Chainlink CCIP as it offers several vital features and benefits. They take into account reliability and security, protected token transactions, and a future-proof solution. Programmable token transactions are also a part of the solution’s distinction. The decentralized network of oracles under Chainlink powers the interoperability and consensus layer of CCIP.

These oracles have already obtained huge capital regarding smart contracts along with enabling more than $9T in on-chain transfer value. Apart from that, CCIP also offers extra reliability and protection layers through the Smart Execution and Risk Management Network. Additionally, CCIP comprises a plug-and-play solution including inspected token-pool contracts.

They handle the complications of minting and burning or locking tokens on diverse chains. The token transactions of CCIP also have extra security features such as Rate Limits. That’s not all as the CCIP provides programmability of the messages. This signifies that the ETHx transactions and random data transactions can be done automatically with some instructions.

Advertisements

The Integration Offers Extra Security, Reliability, and Support for Latest Updates

Chainlink CCIP supports continuous updates like the integration of exclusive blockchains and cutting-edge functionalities. Hence, CCIP’s integration elimination switching costs in the future. Amitej Gajjala, Stader Labs’ co-founder, said that this integration can help expand the ETHx token’s adoption across decentralized finance.

See also  Dogecoin’s Resurgence: Surpasses Pinterest, DraftKings in Market Cap Amid Meme Coin Craze – Can DOGE Hit $1 in 2024?

Leave a Reply

Your email address will not be published. Required fields are marked *