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Sommelier Integrates Chainlink CCIP to Unlock Cross-Chain Yield Vaults

Twitter icon  •  Published il y a 4 mois  •  Hassan Maishera

Chainlink announced via X (formerly Twitter) on Thursday that Sommelier is integrating Chainlink CCIP across Arbitrum, Base, Ethereum, and Optimism mainnets.

Chainlink announced via X (formerly Twitter) on Thursday that Sommelier is integrating Chainlink CCIP across Arbitrum, Base, Ethereum, and Optimism mainnets. 

Sommelier said they are leveraging CCIP’s arbitrary messaging functionality to enable cross-chain vault functionality, where assets can live on one chain but collect yield on multiple other chains by passing messages and price data relevant to vault shares cross-chain. 

They added that they chose CCIP because it is backed by the Risk Management Network, a separate, independent network that continually monitors and verifies cross-chain operations for suspicious activity. 

Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is up by 7% over the past 24 hours and is trading at $15.501 at press time.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.