- Eigenpie integrates Chainlink CCIP for cross-chain interoperability to facilitate liquid restaking.
- Chainlink CCIP offers time-tested security, programmable token transfers, and future-proof capabilities.
Eigenpie Partners with Chainlink for Cross-Chain Liquid Restaking
Eigenpie, an innovative SubDAO, has made a significant move by integrating Chainlink CCIP, a trusted cross-chain interoperability solution, to enable secure cross-chain transfers of liquid restaked tokens (LRTs) on the Arbitrum and Ethereum mainnets. This strategic decision highlights Eigenpie’s commitment to enhancing its liquid restaking platform and fostering a secure environment for its users.
.@Eigenpiexyz_io is integrating #Chainlink CCIP across @arbitrum and @ethereum to help power cross-chain liquid restaking.
Why Eigenpie selected CCIP as its exclusive cross-chain solution👇https://t.co/jff8fQPYKb
— Chainlink (@chainlink) February 1, 2024
Chainlink CCIP: A Secure Cross-Chain Solution
Chainlink CCIP stands out as a comprehensive cross-chain solution for decentralized applications (dApps), offering secure cross-chain messaging and token transfers. Eigenpie’s choice to integrate CCIP stems from Chainlink’s impeccable track record in maintaining the highest standards of security and reliability within the Web3 industry. CCIP is further supported by the Risk Management Network, an independent entity that continuously monitors and verifies cross-chain operations, enhancing security against historical industry exploits.
Benefits for Eigenpie’s Liquid Restaked Tokens (LRTs)
Eigenpie’s LRTs, including mstETH, mrETH, and others, will utilize Chainlink CCIP to streamline cross-chain transfers, significantly improving user convenience across various ecosystems. This integration ensures that Eigenpie’s community can actively participate in their preferred networks without hassle.
Key Features of Chainlink CCIP
- Time-Tested Security and Reliability: Chainlink’s decentralized oracle networks have safeguarded tens of billions of dollars in smart contracts and facilitated over $9 trillion in on-chain transaction value. CCIP incorporates additional layers of protection through the Risk Management Network and Smart Execution.
- Secure Token Transfers: CCIP offers audited token pool contracts that simplify the complexities of burning, minting, locking, and minting tokens across different blockchains. Features like Rate Limits enhance security, and ecosystem partners can develop new capabilities using a single CCIP interface.
- Programmable Token Transfers: CCIP enables programmable token transfers, allowing token transfers and arbitrary data transfers within one atomic transaction. This versatility allows for instructions on token handling once they reach the destination chain.
- Future-Proof: CCIP is designed to support ongoing updates, including the integration of new blockchains, advanced functionalities, and additional security measures. This integration eliminates any potential future switching costs as new cross-chain functionalities become necessary.
Eigenpie’s focus remains on optimizing LST (Liquid Staked Tokens) returns through the EigenLayer restaking infrastructure. The team is eager to witness the community’s adoption of these new functionalities and is dedicated to facilitating a seamless and secure cross-chain experience for its users.
About Eigenpie
Eigenpie, a SubDAO created by Magpie, specializes in the restaking of ETH LSTs via EigenLayer. As a liquid restaking platform for Ethereum, Eigenpie enables users to convert their liquid-staked ETH tokens into Isolated Liquid Restaked ETH tokens, allowing them to earn passive income from Ethereum staking and EigenLayer revenue simultaneously.
About Chainlink
Chainlink is the leading decentralized computing platform that powers the verifiable web. It has enabled over $9 trillion in transaction value by providing access to real-world data, off-chain computation, and secure cross-chain interoperability across various blockchains. Chainlink’s capabilities benefit sectors such as banking, DeFi, global trade, gaming, and more, by offering high-integrity markets and verifiable applications.