SuperRare and Chainlink’s CCIP integration enables secure cross-chain transfers of RARE tokens between Ethereum and Base. Chainlink’s CCIP increases SuperRare’s scalability, offering lower fees and secure interoperability across multiple ecosystems.
By integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP), SuperRare has significantly increased the usage value of RARE coin.
This integration aims to guarantee token transfer between layer 2 blockchain Ethereum and Base. SuperRare’s larger plans to improve scalability and lower transaction fees include the option to include CCIP, especially for customers looking to switch from Ethereum due to high gas prices.
The additional functionality of secure cross-chain transactions enabled by Chainlink’s decentralized oracle network will allow users to more effectively interact with RARE by taking advantage of the lower costs provided by Base.
.@SuperRare integrated #chain link RARE tokens incorporate CCIP to support highly secure transfers. @base & @Ethereum.
CCIP significantly enhances the functionality and reach of SuperRare’s curation tokens by allowing them to span multiple ecosystems.#Road to SmartCon pic.twitter.com/haXtR4oTjK
— Chainlink (@chainlink) October 18, 2024
Enhancement of RARE token functionality with cross-chain flexibility
This integration is primarily driven by improving the functionality of the RARE token. By allowing tokens to be transferred between Ethereum and Base, SuperRare gives customers more freedom while maintaining the security inherent in Chainlink’s decentralized architecture.
Thanks to the lock-and-mint method, users of CCIP can easily transfer their tokens between the two ecosystems. Tokens locked on Ethereum mint corresponding tokens on Base, and vice versa.
This ensures that current Ethereum token holders can maintain full functionality without any negative impact, in addition to allowing RARE to thrive on several platforms.
By using Chainlink’s anti-fraud policies and decentralized security standards, the introduction of Rare Bridge further accentuates the benefits.
This prevents attacks from gaining access to cross-chain transactions and ensures tamper resistance. SuperRare now has the potential to attract developers who want to access a larger market, especially in the NFT space, and test new decentralized applications (dApps) based on RARE.
At the same time, the platform’s great compatibility with the Ethereum ecosystem and acceptance among on-chain artists encouraged the move to include Base as the first Layer 2 solution. For SuperRare, the opportunity to take advantage of Base’s lower cost without compromising Ethereum’s security makes this change very attractive.
Chainlink’s CCIP has proven to be a key enabler of cross-chain innovation, not only for SuperRare but also for many other blockchain initiatives. DeFi, gaming, and NFT platforms can scale across multiple ecosystems while maintaining secure and reliable token transfers thanks to the interoperability provided by CCIP.
Meanwhile, as we previously reported on CNF, Web3 Shield has joined Chainlink’s Build program to improve its on-chain insurance products and support ecosystem expansion. Close integration with Chainlink CCIP ensures powerful multi-chain functionality and secure cross-chain transactions.
Meanwhile, LINK is trading at around $11.57 at the time of writing, up 3.00% in the past 24 hours, with daily trading volume of $198.01 million.
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