- Metis, an Ethereum Layer 2 blockchain, has announced the integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) on its mainnet.
- CCIP will facilitate secure cross-chain fund transfers and messaging between Metis and Ethereum, and more networks will be added in the future.
Metis has announced the integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) on its mainnet as the network’s canonical cross-chain infrastructure.
.@MetisL2 is now using #Chainlink CCIP as its canonical cross-chain infrastructure in production.
Explore the transformational cross-chain use cases unlocked by CCIP
https://t.co/U2XACsofTQ pic.twitter.com/Ip2FK480SG
— Chainlink (@chainlink) August 8, 2024
Metis is a permissionless Ethereum Layer 2 blockchain that focuses on scalability and decentralization without sacrificing security.
In its announcement, Metis revealed that CCIP will initially serve as a bridge between Metis and the Ethereum Layer 1 blockchain, but the developers intend to add connections to other blockchains in the near future.
Through CCIP, Metis users can now bridge their assets and send messages securely to and from Ethereum. Metis becomes the latest to integrate the industry-leading bridging solution, with Polkadot’s Astar Network, tokenization platform Zoniqx, decentralised exchange Morphex and Web3 gaming studio DRIFT Labs announcing similar integrations in the past month alone.
In its announcement, Metis said it selected Chainlink because it provides Level-5 cross-chain security that has proven itself by anchoring over $12 trillion in transaction volume. Other defence-in-depth features, such as Chainlink’s Risk Management Network, will also allow Metis to build solutions that can attract more liquidity and enable users to tokenize their assets.
Kevin Liu, the Metis co-founder, commented:
With Chainlink CCIP now live as Metis’ canonical cross-chain infrastructure, developers can unlock an array of transformative cross-chain use cases. With cross-chain applications underpinned by the industry-standard CCIP, liquidity is set to flow into Metis ecosystem and help scale DeFi.
In a separate post, the Metis team described CCIP as a universal translator for blockchain.
“CCIP unlocks doors to innovation across every sector in blockchain and just about every single use case you can imagine. It’s not just an upgrade for our ecosystem; it’s a whole new playing field for builders to incorporate multi-chain capabilities into their dApps,” the team said.
On its part, Chainlink Labs believes the partnership will unlock new use cases and benefits for the Metis ecosystem. Chief Business Officer Johann Eid commented:
CCIP will unlock a whole host of cross-chain use cases for the Metis ecosystem, transforming DeFi, DAOs, and more. We’re excited to see Chainlink CCIP live on Metis as its canonical cross-chain infrastructure.
CCIP has been one of Chainlink’s biggest features and is now available on dozens of blockchains and hundreds of applications, underscoring the great need in the market for interoperability solutions. The days of blockchain tribalism are being gradually phased out, with more users now keen on tapping into multiple blockchains for maximum gains.
Chainlink’s native token LINK trades at $10.6, gaining 3% in the past day for a $6.43 billion market cap.
