Vertex has announced the adoption of Chainlink’s Cross-Chain Interoperability Protocol. As per Vertex, the integration enables secure and seamless cross-chain transactions of the $VRTX token to exclusive networks beyond Arbitrum. The platform took to social media to disclose this development.
Vertex to Enable Cross-Chain $VRTX Transfers by Integrating CCIP
Vertex also shared an exclusive blog post on its official web portal to offer details of this endeavor. The platform mentioned that the integration will begin with Blast and Base in the case of cross-chain $VRTX transactions. CCIP reportedly offers effective data and asset transactions across several blockchains.
It permits developers to benefit from the unique strengths of each chain. This interoperability promotes collaborations across several ecosystems, fortifying developers to develop apps. With these applications, it provides improved token features, fulfilling the requirements of a wider on-chain audience within the DeFi sector. CCIP delivers several significant features and benefits like Arbitrary Messaging, Programmable Token Transactions, and Secure Token Transactions.
Arbitrary messaging deals with sending encrypted data to another chain-based smart contract. This would trigger certain actions like executing or rebalancing operations for multi-chain, complex tasks. Additionally, CCIP streamlines the procedure of cross-chain token transactions. It enables this by offer audited pool contracts to abstract away the complication of validation across the chains. Apart from that, programmable transactions of tokens include the transfer of data and tokens within one transaction. This enables instructions regarding token use, including using the tokens for collateral for lending protocols.
The selection of CCIP by Vertex takes into account its reliability and security. CCIP uniquely provides cross-chain security of level 5. Vertex expressed its excitement in the adoption of Chainlink CCIP to back cross-chain transfers with $VRTX. The cross-chain $VRTX reportedly aligns with the vision of Vertex Edge to establish a multi-chain hub.
The Integration Enables Swaps, Lending, and Borrowing of $VRTX Across Chains
According to Vertex, one of the cross-chain abilities that CCIP provides to $VRTX is the simplified transactions between Blast, Base, and Arbitrum. Another such capability is the $VRTX-pool creation for token swaps and lending/borrowing operations on DeFi apps across supported chains. The platform plans to leverage CCIP to claim $VRTX trading incentives straight from Blast and Base without switching network. It also targets to stake $VRTX tokens from Blast and Base with simplified access after the impending Staking V2 upgrade’s implementation.
