Usual, a decentralized, transparent, and safe stablecoin protocol, has recently adopted the Chainlink Standard. With Chainlink standard’s adoption, Usual intends to advance the native $USD0++ and $USD0’s liquidity and utility. The platform disclosed this endeavor on social media.
Usual Integrates Chainlink Standard to Boost Liquidity and Use Cases of $USD0++ and $USD0
Usual stated that the Chainlink standard’s adoption includes Data Feeds, Proof of Reserve, and CCIP. With these features, Usual is attempting to increase the liquidity and use cases of its $USD0 as well as USD0++. The respective integrations assist the platform in addressing the crucial challenges dealing with the tokenized asset sector. In addition to this, it also provides its ecosystem and consumers with improved transparency and utility.
For the efficient, transparent, and secure functionality of Usual’s ecosystem, $USD0++ and $USD0 need to access up-to-date asset prices. In this respect, there is a requirement for direct on-chain supply of the respective data in a significantly reliable manner. This highlights the need for the utilization of an oracle ecosystem to get aggregated price data. The Chainlink standard’s integration provides an effective solution for this offering transparency, safe node operators of Chainlink, and premium data.
Leveraging Chainlink CCIP for Unparalleled Cross-Chain Transfers
The key objective of this adoption is to guarantee efficient and protected cross-chain shift before the deployment of assets like $USUAL on BNB Chain and Base. For this purpose, Usual leverages Chainlink CCIP to utilize a burn-and-mint mechanism. This enables $USUAL’s seamless transactions across networks parallel to sustaining stability and integrity.
Specifically, the integration delivers defense-in-depth security through Chainlink Decentralized Oracle Network. Additionally, it also takes into account an autonomous Risk Management Network for persistent monitoring and validation of CCIP behavior. Apart from that, Cross-chain Tokens offer secure and flexible cross-chain transactions of $USUAL without requiring inherent CCIP-specific codes in smart contracts.
Prioritizing Transparency and Security
According to Usual, a core feature of the Chainlink standard’s integration is the transparency. Hence, the platform has incorporated Chainlink Proof of Reserve mechanism that conducts on-chain verification to guarantee the monitoring of the collateral. Keeping this in view, Usual focuses on expediting the USD0++ and USD0’s adoption on a wider scale. This enables the establishment of protected on-chain markets for the respective assets.
