CCIP Mainnet Early Access

CCIP is an interoperability standard that allows developers to build cross-chain solutions.

CCIP Mainnet Early Access

Quick Take

  • Chainlink launches CCIP to mainnet early access.
  • Uniswap introduces UniswapX.
  • Lens Protocol unveils its V2 upgrade.
  • Gnosis launches a payment network.

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CCIP Mainnet Early Access

Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is now live on mainnet as part of an early access release. CCIP is an interoperability standard that allows developers to build cross-chain solutions using arbitrary messaging. Use cases include cross-chain transfers, cross-chain collateral, and cross-chain account abstraction. CCIP also provides Simplified Token Transfers, a bridging solution that uses audited token pool contracts for burning and minting tokens. Token pool sponsors can set rate limits to cap the number of tokens that can be transferred within a given time period. CCIP will open on testnet for all developers on July 20th with projects being onboarded to early mainnet on a rolling basis.

Synthetix Integrates CCIP

Derivatives liquidity protocol Synthetix integrated Chainlink CCIP to power its cross-chain liquidity transfer solution known as the Synthetix Teleporter. CCIP allows V3 suSD to be teleported cross-chain using a mint-and-burn mechanism. The design improves capital efficiency by removing the need for liquidity pools and duplicate assets. Synthetix Teleporter currently supports V3 sUSD transfers between Ethereum Mainnet and Optimism but can be expanded to support sUSD across any EVM-compatible chain. Synthetix Teleporter is only available on Synthetix V3. Synthetix is also exploring further use cases for CCIP, including cross-chain Synthetix perps and staking pools. BGD Labs, an Aave development contributor, is also integrating CCIP into the Aave protocol to help foster cross-chain governance. Aave governance already approved a proposal to integrate CCIP as part of a broader abstraction layer for cross-chain governance called the Aave Delivery Infrastructure (a.DI).

Uniswap Introduces UniswapX

Uniswap introduced UniswapX, a new trading protocol that employs a Dutch auction-based mechanism to execute swaps across various liquidity sources. UniswapX leverages intents, which are signed constraints that enable users to delegate their orders to a network of third-party fillers. Fillers compete to fill orders, manage order routing, and cover the associated native chain gas fees. Swappers simply authorize their desired order by providing a signature. The network of fillers protects users from MEV, eliminates the need for users to hold native gas tokens, and avoids fees for unsuccessful order execution. Uniswap plans to integrate cross-chain bridging and swapping later this year. UniswapX is now available as an opt-in beta on the Uniswap interface.

Lens Protocol Introduces V2

Lens Protocol unveiled the second iteration of its protocol, introducing open actions, enhanced composability, and security improvements. Open actions allow developers to integrate external smart contracts directly into Lens publications, including actions like external NFT drops. Lens Protocol V2 supports the ERC-6551 standard, allowing content to be owned by a Profile NFT. The update also changes "follows" to be profile-based, allowing follow NFTs to be attached to a Profile NFT. An improved profile manager allows users to hold their Profile NFT in a hardware wallet and delegate social actions to other wallets. A waitlist is now open to join Lens Protocol as it progresses toward a V2 mainnet launch.

Gnosis Pay Crypto Debit Card

Gnosis unveiled Gnosis Pay, a decentralized payment network built as an L2 network that allows users to spend their crypto using a debit card called Gnosis Card. Users can load a balance on a Gnosis Pay wallet linked to their Gnosis Card. When a purchase is made, Gnosis Pay fiat bridges facilitate cross-chain and no-cost conversions between crypto and fiat. Gnosis Card is first available in Europe with initial support for EURe.