Shiba Inu and TurboToadToken Adopt Chainlink's CCIP for Cross-Chain Operations

user avatar

by Giorgi Kostiuk

2 years ago

Shiba Inu is among the first to implement Chainlink's Cross-Chain Interoperability Protocol (CCIP), opening up new possibilities for SHIB, BONE, and LEASH tokens.

Breaking Barriers with Chainlink CCIP

The adoption of the Cross-Chain Token (CCT) standard marks a transformative step for Shiba Inu and TURBO. Utilizing Chainlink's CCIP, tokens like SHIB, BONE, LEASH, and TURBO can now be transferred securely across 12 blockchains, while Turbo can now be transferred across the BNBChain and Ethereum networks. Shiba Inu's layer-2 solution, Shibarium, has also integrated Chainlink CCIP, enabling developers to build robust decentralized applications that operate across different blockchains within the Shibarium ecosystem.

How It Works: Cross-Chain Transfers

The CCT standard employs Chainlink’s CCIP, which enables two key methods for cross-chain token transfers:

* The Lock-and-Mint Program, facilitating token transfers from Ethereum to other supported chains.

* The Burn-and-Mint Program, extending cross-chain token movement by burning tokens on the source chain and minting them on the destination chain.

Empowering Developers on Shibarium

Shibarium developers now have access to infrastructure that supports the creation of interoperable projects. Chainlink CCIP provides tools for developing secure dApps with cross-chain capabilities.

“Chainlink CCIP enables Shibarium developers to build reliable cross-chain applications that grow the Shibarium network,” stated Shiba Inu's team.

The integration of Chainlink CCIP is a significant milestone for the Shiba Inu ecosystem, enabling secure and efficient DeFi markets while expanding opportunities for developers and users.

Tier I

Sector: #18291

Sealed Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Strategy's Dual Approach: Bitcoin Acquisition and Preferred Share Repurchase

On November 9, Strategy announced the acquisition of 1,036 additional Bitcoin alongside the repurchase of approximately 188 million STRC preferred shares.

user avatarMaya Lundqvist

Bitcoin Slips Toward $74,000 After Fed Governor Signals December Rate Hike

Bitcoin's value has dropped significantly, approaching the $74,000 level, as Federal Reserve Governor Christopher Waller voiced clear support for raising interest rates at the upcoming December FOMC meeting.

user avatarLeo van der Veen

MARA Reports Significant Bitcoin Sales and Loan Repayment

MARA disclosed significant Bitcoin sales and loan repayment, marking a strategic shift from holding to monetizing reserves.

user avatarLi Weicheng

US Spot Ether ETFs Face Major Withdrawals on November 9

On November 9, US spot Ether ETFs experienced significant net withdrawals totaling $1.846 billion, primarily driven by BlackRock's ETHA, reflecting ongoing investor concerns about market conditions.

user avatarAisha Farooq

Crypto Firms Rally Behind CFTC in Perpetual Futures Legal Battle

Coinbase, Kalshi, and four other companies filed an amicus brief supporting the CFTC's authority to regulate perpetual futures tied to US stocks amid a significant lawsuit.

user avatarBayarjavkhlan Ganbaatar

CMAA Challenges CFTC's Authority Over Perpetual Futures

The Capital Markets Alliance Association (CMAA) has filed a lawsuit against the Commodity Futures Trading Commission (CFTC), claiming that perpetual futures should be classified as security-based swaps, which would impose stricter regulations.

user avatarTenzin Dorje

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.