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

Payward Acquires AAVE Tokens to Explore Decentralized Credit

Payward, the infrastructure company behind Kraken, announced the acquisition of AAVE tokens through an affiliated fund.

user avatarMaya Lundqvist

Solana Labs Launches Leap Mobile Trading App for iOS

Solana Labs has launched an early-access beta version of its mobile trading app, Leap, for iOS users.

user avatarLeo van der Veen

Aave Labs Expands Fixed-Rate Lending Capabilities with Avon Acquisition

Aave Labs announced its acquisition of Avon to enhance fixed-rate lending capabilities.

user avatarLi Weicheng

Investigation into Binance Theft Reveals Complexities in Cryptocurrency Tracing

Elliptic's investigation into the October Binance theft reveals complexities in tracing stolen cryptocurrency assets, highlighting challenges in identifying recipients and the need for compliance.

user avatarTenzin Dorje

Elliptic Reports $124 Million in Stolen Assets Converted to Bitcoin

Elliptic reports that approximately $124 million of stolen assets from the October Binance breach have been converted into Bitcoin.

user avatarAisha Farooq

Coinbase Launches Integrated Services for Token Issuers

On November 5, Coinbase launched a new integrated platform for token issuers, offering services from sales to custody, aiming to streamline operations and reduce reliance on multiple providers.

user avatarBayarjavkhlan Ganbaatar

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.