Ethereum Layer-2 network Metis has constructed-in Chainlink’s Sinful-Chain Interoperability Protocol (CCIP) skills to propel ecosystem progress, in accordance with a Feb. 29 assertion shared with CryptoSlate.
The CCIP integration will give Metis rating real of entry to to a sturdy token bridge infrastructure that enhances its injurious-chain capabilities. This would improve user and developer experiences whereas accelerating Layer-2 adoption in the business.
Chainlink Labs Chief Exchange Officer Johann Eid mentioned:
“By securely interoperating injurious-chain by strategy of CCIP, Metis is able to offer a extra seamless developer and user skills in its ecosystem whereas helping to hunch up the adoption of its layer-2 network.”
Integration advantages
In accordance with the assertion, Chainlink’s CCIP will support as the “canonical token bridge infrastructure” for the Metis token bridge.
In the starting up, the integration will facilitate bridging Ethereum-primarily based fully stablecoins to Metis, with further tokens and blockchains added later in the pipeline. The circulation is poised to noticeably improve the stablecoin ecosystem on the Layer-2 network.
DeFillama files illustrates the importance of this pattern, revealing a modest $41 million market capitalization for stablecoins on the Metis network when put next with Ethereum’s $73 billion. The CCIP integration would launch Metis to Ethereum’s huge stablecoin quantity — amplifying its market presence.
Apart from that, the collaboration affords Metis a assortment of advantages, including accelerated token transfers, a standardized injurious-chain interface, and rating real of entry to to Programmable Token Transfers. Metis also stands to reach from Chainlink’s sturdy Web3 developer crew and established presence in the capital markets.
Furthermore, Metis govt lead Tom Ngo mentioned that CCIP’s cutting-edge safety architecture and adoption by main business players were the most crucial causes it selected Chainlinkin its decision-making route of. He added:
“Security and user skills are our high priorities by manner of the infrastructure securing the canonical Metis token bridge, and Chainlink CCIP’s defense-in-depth safety architecture and stepped forward capabilities are unparalleled.”
