Hassan Maishera
On Thursday, the Chainlink team announced via X that Falcon Finance, a synthetic dollar protocol, has adopted Chainlink CCIP & Proof of Reserve across BNBCHAIN and Ethereum.
Falcon has adopted Chainlink Proof of Reserve to enhance its transparency by verifying that USDf remains fully overcollateralized. By adopting Chainlink Proof of Reserve, Falcon Finance enables real-time, automated audits of USDf’s collateral, providing strong protection against offchain fraud and fractional reserve risks. Meanwhile, CCIP enables secure cross-chain interoperability.
Chainlink Network (LINK) aims to provide tamper-proof data inputs and outputs for smart contracts on any blockchain. LINK is down 6% over the past 24 hours, trading at $18.33 at press time.
