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A pioneer decentralized insurance platform has integrated Chainlink to ensure secure, reliable, and seamless data exchange.
- Chainlink’s CCIP has emerged as an industry standard for cross-chain solutions, offering numerous benefits for projects.
Chainlink has partnered with Etherisc to offer the platform a seamless cross-chain integration through Chainlink’s CCIP tool. This is a landmark collaboration for Chainlink, helping support the pioneer decentralized insurance platform to offer reliable, tamper-proof insurance data on-chain.
Established in 2016, Etherisc, revealed that Chainlink has been a partner since its establishment and it is only natural that it would choose Chainlink’s industry-standard platform for its cross-chain solution.
With the goal of becoming the go-to insurance platform in the blockchain industry, the platform aims to leverage Chainlink to offer a seamless and secure connection between Ethereum and Coinbase’s Base. Etherisc recognizes the benefits offered by the two unique mainnets – Ethereum offers security and staking while Base brings secure, low-cost, and fast transactions.
As confirmed by Chainlink, the integration will help power transfer of Etherisc native toke DIP between Base and Ethereum.
.@etherisc—a leading blockchain-based parametric insurance platform—has integrated #Chainlink CCIP on @ethereum and @base to help power secure cross-chain transfers of its native token DIP.
Discover how the Chainlink platform unlocks new use cases ⬇️https://t.co/bq35YWnO97
— Chainlink (@chainlink) April 22, 2024
For starters, the platform will use CCIP Messaging further to create seamless multichain dAPPs for staking and accessing insurance solutions from any chain.
The platform reveals that a majority of DIP tokens are staked on the Ethereum mainnet. Starting in late April, holders will have the exciting opportunity to trade DIP on Base Uniswap, a revolutionary platform known for its low gas fees. This initial launch paves the way for the introduction of additional features and functionalities, including DIP staking, at a later date.
For those who hold DIP tokens on the Ethereum mainnet, bridging to Base can be achieved through XSwap and transporter.io, both powered by Chainlink CCIP.
Speaking on the recent partnership, Christoph Mussenbrock, CEO, Etherisc stated:
Chainlink has been mission-critical for Etherisc from the beginning, so it was only natural that we use Chainlink’s industry-standard platform for our cross-chain solution. CCIP has remarkable security benefits that help ensure cross-chain token transfers will stay secure both now and in the future while minimizing the number of dependencies Etherisc relies on.
As CNF reported, Vertex, a top decentralized exchange, has recently integrated Chainlink Data Streams for faster, more secure trading. Additionally, Stader Labs has joined the growing list of crypto infrastructure providing integrating Chainlink’s CCIP.
The network continues to celebrate multiple integrations proving its technological prowess and growing adoption. With a growing ecosystem, Chainlink’s LINK is anticipated to maintain its bullish momentum.
At the time of writing, LINK is trading for $15.43 after a marginal change in the last 24 hours. The altcoin is up by 14% in the last week with investors hoping the altcoin can maintain its mid-term outlook. Positive developments around the project will play a crucial role in the ecosystem adoption and LINK price rise.