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DailyBubble News

Index Coop Integrates Chainlink CCIP for Cross-chain Capabilities

Index Coop has recently announced the integration of Chainlink CCIP to enable cross-chain transfers for the DPI and MVI index tokens. The decision to go with Chainlink CCIP was based on its strong reputation and the added layer of security it provides.

Index Coop, a Decentralized Autonomous Organization (DAO) and a prominent provider of on-chain products, has made a significant move by integrating Chainlink (LINK) CCIP on its Ethereum and Arbitrum mainnet. This integration aims to facilitate cross-chain transfers for the DPI and MVI index tokens using CCIP’s Simplified Token Transfer.

The team at Index Coop defended their choice of CCIP by pointing out Chainlink’s proven track record and its robust security measures within the ecosystem. The Risk Management Network that comes with CCIP offers an extra layer of security, crucial in light of past industry exploits.

This integration is expected to enhance user experience on Arbitrum’s Ethereum layer-2 network, especially considering the challenges posed by high fees on the Ethereum mainnet. Chainlink’s CCIP was selected for its security, reliability, and the additional protection it offers through features like the Risk Management Network and Smart Execution.

The decision was influenced by four key benefits and features of Chainlink CCIP, including its time-tested security, plug-and-play solution for token transfers, programmable token transfers, and future-proof capabilities. Index Coop’s Head of Product, Allan Gulley, emphasized Chainlink’s commitment to security and reliability as the reason for choosing CCIP.

As of now, Chainlink (LINK) is trading at $13.8, with a 4% decline in the last 24 hours and a 25% decline in the last 30 days.

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