April 2024 Recap: Chainlink Launches Cross-Chain Bridging App, CCIP Enters General Availability

In last month’s Q1 2024 Product Update, Chainlink announced Cross-Chain Interoperability Protocol (CCIP) officially entered General Availability on Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX, with “many more” chains to be added in the future.

In an official announcement, Chainlink co-founder Sergey Nazarov anticipated mainnet availability will accelerate CCIP’s adoption as the blockchain interoperability standard for banks and capital markets as well as DeFi and web3.  

“The mainnet general availability of CCIP is something that makes it even easier for developers to quickly adopt CCIP as a secure mechanism for cross-chain connectivity,” he said. 

Earlier in April, Chainlink launched Transporter, a highly secure, CCIP-powered bridging app for transferring large token value and critical messages across chains. Early adopters include prominent venture capital firms Fourth Revolution Capital and Moonrock Capital. Chainlink also introduced a new lock and unlock mechanism for CCIP, with an initial use case enabling cross-chain ETH transfers via WETH token pools.

Having enabled over $10.5 trillion in onchain transaction value, Chainlink provides a comprehensive suite of oracle services that are essential for creating, securing, and transporting tokenized real-world assets throughout the growing multi-chain economy. Last month, Chainlink was at the forefront of conversations about tokenized assets at multiple blockchain events in Dubai.

During Blockchain Life 2024, Nazarov and Dubai Blockchain Center CEO Dr. Marwan Alzarouni explored Chainlink’s key role in Dubai’s tokenized asset adoption. During Token2049, Nazarov elaborated on how Chainlink-powered tokenized assets can serve as a golden record in onchain finance. And during a fireside chat with Further Ventures’ Gary Sheynkman at ETHDubai, Nazarov envisioned how to build the future tokenized assets with Chainlink’s essential infrastructure.

The Chainlink ecosystem added several key CCIP integrations in March:

Linear Finance, a cross-chain compatible delta-one asset protocol, announced it’s integrating CCIP across the BNB Chain and Ethereum mainnets to enable cross-chain transfers of its governance token, LINA.

Swell Network, one of the largest non-custodial Ethereum liquid staking protocols, announced CCIP will support cross-chain transfers on the upcoming Swell L2 rollup for restaking.

Dinari, a decentralized stock trading platform, announced its CCIP integration across the Arbitrum One and Ethereum mainnets to facilitate cross-chain transfers of its fully backed yield-bearing stablecoin, USD+.

Tensorplex Stake, a liquid staking solution for decentralized AI network tokens, announced its CCIP integration across the Arbitrum, Base, Ethereum, and Optimism mainnets to enable cross-chain transfers of its liquid staking token, stTAO. 

The Chainlink BUILD program, which fosters the growth of promising early-stage and established projects in Chainlink’s ecosystem, continued to grow in April. New additions include web3 AI data layer 0xScope and P2P-decentralized contracting protocol Pairwyse.

The Chainlink Block Magic Hackathon is currently underway, with over $400,000 in prizes up for grabs across multiple categories including Financial Services, Artificial Intelligence, and Gaming & Consumer Apps, with additional prizes for projects with the best UI/UX and the best video demo. Stay tuned for winners announced in June.

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