Metis integrates Chainlink’s CCIP to boost ecosystem growth and cross-chain capabilities

Ethereum Layer-2 network Metis has integrated Chainlink’s Execrable-Chain Interoperability Protocol (CCIP) technology to propel ecosystem boost, based on a Feb. 29 observation shared with CryptoSlate.

The CCIP integration will give Metis procure admission to to a substantial token bridge infrastructure that enhances its foul-chain capabilities. This could also toughen user and developer experiences while accelerating Layer-2 adoption in the industry.

Chainlink Labs Chief Alternate Officer Johann Eid acknowledged:

“By securely interoperating foul-chain by ability of CCIP, Metis is ready to supply a more seamless developer and user skills in its ecosystem while helping to meander up the adoption of its layer-2 network.”

Integration advantages

Essentially based on the observation, Chainlink’s CCIP will reduction as the “canonical token bridge infrastructure” for the Metis token bridge.

At the origin, the integration will facilitate bridging Ethereum-based stablecoins to Metis, with additional tokens and blockchains added later in the pipeline. The transfer is poised to vastly toughen the stablecoin ecosystem on the Layer-2 network.

DeFillama data illustrates the importance of this building, revealing a modest $41 million market capitalization for stablecoins on the Metis network compared with Ethereum’s $73 billion. The CCIP integration would open Metis to Ethereum’s sizable stablecoin volume — amplifying its market presence.

Besides that, the collaboration affords Metis a assortment of advantages, along with accelerated token transfers, a standardized foul-chain interface, and procure admission to to Programmable Token Transfers. Metis also stands to achieve from Chainlink’s tough Web3 developer community and established presence in the capital markets.

Furthermore, Metis executive lead Tom Ngo acknowledged that CCIP’s cutting again-edge security structure and adoption by main industry avid gamers were the main causes it chose Chainlinkin its resolution-making assignment. He added:

“Security and user skills are our top priorities in phrases of the infrastructure securing the canonical Metis token bridge, and Chainlink CCIP’s defense-in-depth security structure and improved capabilities are unparalleled.”