Shiba Inu advances DeFi strategy with Chainlink partnership
Shiba Inu has taken a significant step forward by partnering with Chainlink to enhance cross-chain functionality and data integration across its ecosystem, according to a Dec. 19 statement.
This collaboration introduces cutting-edge interoperability features and positions the Shiba Inu network for broader adoption.
Unlocking cross-chain potential
The collaboration integrates Chainlink’s Cross-Chain Token (CCT) standard into Shiba Inu’s ecosystem, enabling its tokens—SHIB, LEASH, and BONE—to operate seamlessly across 12 blockchains.
The lock-and-mint system can efficiently transfer these assets from Ethereum to other chains. Meanwhile, the burn-and-mint mechanism ensures smooth token movement across all supported networks.
The Shiba Inu network also benefits from integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP) into its Ethereum-based layer-2 blockchain, Shibarium.
This empowers developers to create secure, feature-rich, and scaleable cross-chain applications. The improvements enhance Shibarium’s utility and boost its reliability as a blockchain solution.
Additionally, Shiba Inu has adopted the Oracle network’s low-latency market data through Chainlink Data Streams. This service delivers premium, high-frequency data with features like liquidity-weighted bid-ask spreads and sub-second execution speeds.
Johann Eid, Chief Business Officer at Chainlink Labs, said:
“The integration of Chainlink CCIP as Shibarium’s canonical cross-chain solution and Shiba Inu’s adoption of the CCT standard will enhance its capabilities and drive wide adoption of its ecosystem.”
He added that the Chainlink standard for cross-chain interoperability and Chainlink Data Streams unlocks innovation that would expand the Shibarium Network and support the development of efficient and secure DeFi markets.
Kaal, a developer in the Shiba Inu ecosystem, highlighted the significance of this partnership. He explained that the collaboration enables SHIB-related tokens to span multiple chains and sets the stage for innovative multi-chain applications.
He outlined several projects that could now be developed within the memecoin ecosystem by leveraging Chainlink technology, stating:
“Imagine automated insurance payouts that react to real-time events, dynamic lending markets driven by global economic indicators, frictionless cross-chain liquidity pools, and tokenized assets priced with real-world accuracy —the future’s unleashed, and Shib DeFi will never be the same.”
The post Shiba Inu advances DeFi strategy with Chainlink partnership appeared first on CryptoSlate.
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Shiba Inu advances DeFi strategy with Chainlink partnership
Shiba Inu has taken a significant step forward by partnering with Chainlink to enhance cross-chain functionality and data integration across its ecosystem, according to a Dec. 19 statement.
This collaboration introduces cutting-edge interoperability features and positions the Shiba Inu network for broader adoption.
Unlocking cross-chain potential
The collaboration integrates Chainlink’s Cross-Chain Token (CCT) standard into Shiba Inu’s ecosystem, enabling its tokens—SHIB, LEASH, and BONE—to operate seamlessly across 12 blockchains.
The lock-and-mint system can efficiently transfer these assets from Ethereum to other chains. Meanwhile, the burn-and-mint mechanism ensures smooth token movement across all supported networks.
The Shiba Inu network also benefits from integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP) into its Ethereum-based layer-2 blockchain, Shibarium.
This empowers developers to create secure, feature-rich, and scaleable cross-chain applications. The improvements enhance Shibarium’s utility and boost its reliability as a blockchain solution.
Additionally, Shiba Inu has adopted the Oracle network’s low-latency market data through Chainlink Data Streams. This service delivers premium, high-frequency data with features like liquidity-weighted bid-ask spreads and sub-second execution speeds.
Johann Eid, Chief Business Officer at Chainlink Labs, said:
“The integration of Chainlink CCIP as Shibarium’s canonical cross-chain solution and Shiba Inu’s adoption of the CCT standard will enhance its capabilities and drive wide adoption of its ecosystem.”
He added that the Chainlink standard for cross-chain interoperability and Chainlink Data Streams unlocks innovation that would expand the Shibarium Network and support the development of efficient and secure DeFi markets.
Kaal, a developer in the Shiba Inu ecosystem, highlighted the significance of this partnership. He explained that the collaboration enables SHIB-related tokens to span multiple chains and sets the stage for innovative multi-chain applications.
He outlined several projects that could now be developed within the memecoin ecosystem by leveraging Chainlink technology, stating:
“Imagine automated insurance payouts that react to real-time events, dynamic lending markets driven by global economic indicators, frictionless cross-chain liquidity pools, and tokenized assets priced with real-world accuracy —the future’s unleashed, and Shib DeFi will never be the same.”
The post Shiba Inu advances DeFi strategy with Chainlink partnership appeared first on CryptoSlate.
Read More
World Liberty Financial aims global as DWF Labs acquire $25 million of its token