Chainlink Boosts Memecoins' Reach Through Blockchain Networks

user avatar

by Giorgi Kostiuk

2 years ago

Chainlink has made various memecoins accessible across different networks by integrating them into its services, thus increasing their reach to a broader audience.

Integration of Memecoins in Chainlink

Chainlink enables memecoins like Shiba Inu (SHIB), Turbo (TURBO), and Apu (APU) to utilize Cross-Chain Token (CCT) standards, making them accessible across 12 blockchain networks. These tokens can now be used beyond the networks they were initially launched on.

Cross-Chain Token Standards

Many memecoins, such as Simon’s Cat (CAT), Coq Inu (COQ), GOAT (GOAT), Hamster Kombat’s HMSTR, and Mog coin (MOG), have joined Chainlink’s decentralized data streams. This expansion could potentially increase the market share of memecoins by providing higher liquidity and broader usability.

Data Streams and Security

Chainlink’s data streams continuously provide off-chain market data using an oracle model. These data can be cryptographically verified on the network. The lock-and-mint mechanism facilitates token transfers between networks, enhancing token mobility.

Chainlink's expansion increases the visibility and distribution of memecoins. This has the potential to boost investment and usage rates, encouraging more frequent user engagement.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

NEAR Protocol Achieves 50 Million Operations Milestone

chest

NEAR Protocol's chain abstraction infrastructure has surpassed 50 million lifetime operations, marking a significant achievement in simplifying multichain crypto interactions.

user avatarArif Mukhtar

Solana Sees Significant RWA Inflows

chest

Solana has recorded $348 million in net inflows of real-world assets over the past 30 days, increasing its tokenized RWA value to $720 million.

user avatarMaria Gutierrez

Aave Governance Considers Emergency Powers to Protect Users

chest

Aave governance is considering a proposal to grant emergency powers to guardians to freeze vulnerable lending pools during security threats.

user avatarDavid Robinson

Router Protocol Users Must Move Assets During Grace Period

chest

Router Protocol users must take action during the grace period to bridge assets back to origin chains before relayer nodes are disconnected.

user avatarJacob Williams

Arbitrum Proposes Disqualification of Three DeFi Protocols from Future Grants

chest

A new governance proposal by Arbitrum aims to disqualify three DeFi protocols from future DAO grant allocations due to alleged reporting failures and misuse of prior incentives.

user avatarAndrew Smith

Router Protocol to Shut Down Crosschain Network and Burn 303 Million Tokens

chest

Router Protocol has announced a deprecation plan to shut down its crosschain messaging network and burn 303 million ROUTE tokens due to unsustainable maintenance costs.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.