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Metis to Bring Cross-Chain Solution With Chainlink CCIP

by BSC News

March 1, 2024

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The integration reportedly brings faster token transfers, standardized interfaces, and access to Programmable Token Transfers, enhancing user and developer experiences.

Metis, the permissionless Ethereum layer-2 network, is set to revolutionize cross-chain interoperability by integrating Chainlink Cross-Chain Interoperability Protocol (CCIP), according to a press release shared with BSC News. This strategic move aims to propel the Metis ecosystem into new frontiers, enhancing user and developer experiences while accelerating widespread adoption.

The initial focus will be on bridging leading stablecoins from Ethereum's mainnet onto the Metis network. As the integration evolves, additional blockchain networks and tokens will reportedly be supported, bolstering the growth of the Metis ecosystem.

Benefits for Metis Ecosystem:

As per reports, the integration with Chainlink CCIP offers other benefits for Metis developers and users. Notably, the migration to Chainlink's infrastructure promises faster token transfers from Metis to Ethereum, reducing transaction times from seven days to mere minutes.

Furthermore, users will experience a standardized interface for seamless interaction across chains and access to Programmable Token Transfers—a CCIP-native feature empowering tokens with instructions for use on the destination chain.

This integration with Chainlink enables Metis to access Chainlink's extensive Web3 developer ecosystem and exposes Metis to Chainlink's growing capital markets audience. 

Besides integrating Metis, Chainlink's recent influence extends to 21Shares, a cryptocurrency investment product provider. The integration involved Chainlink's Proof of Reserve (PoR) on the Ethereum mainnet, providing enhanced transparency for the Bitcoin reserves supporting the ARK 21Shares Bitcoin ETF.

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