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chainlink

Chainlink is an oracle infrastructure designed to migrate capital markets on-chain and support most decentralized finance (DeFi) applications. The Chainlink stack provides the necessary data, interoperability, compliance, and privacy standards to support advanced blockchain use cases such as institutional tokenized assets, lending, payments, and stablecoins.
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first_img Chainlink released CCIP 2, allowing enterprises to customize cross-chain security verification

On Monday, the oracle network Chainlink released the cross-chain interoperability protocol CCIP 2, making significant upgrades to its communication and cross-chain bridge infrastructure. The new version allows enterprises to add their own security verification checks on top of Chainlink's default network of 16 independent node operators. Enterprises can run their own validators or hire external service providers such as Infosys and Nethermind. Chainlink stated that users should not be forced to become "cross-chain security infrastructure experts."This upgrade comes about five months after the Kelp DAO was hacked in April of this year. The attackers are reportedly linked to the North Korean Lazarus group, stealing approximately $292 million in rsETH by deceiving the single validator relied upon by the Kelp cross-chain bridge, which operates on LayerZero. LayerZero blamed Kelp for using only a single validator, while Kelp stated that LayerZero employees had reviewed its setup and raised no objections. Kelp subsequently announced that it would migrate rsETH to Chainlink.The upgrade also adjusts the security mechanism that Chainlink had previously heavily promoted; its risk management network will no longer operate as an independent review node, with such independent checks now provided by optional validators. This means that users who have not added any validators currently rely on a single validation network, whereas previously they relied on two. Existing Chainlink users have been automatically migrated to the new version, but the company has not disclosed which institutions are using the new validators, only stating that Aave and Maple have begun adopting other features of the upgrade.

first_img Aave Labs proposed to deploy V4 isolated Hub for accessing custodial collateral

On September 14, Aave Labs released an ARFC on the Aave governance forum, seeking approval to deploy a new Aave V4 Isolated Hub and Spoke to integrate institutional custody collateral as collateral for stablecoin loans. Institutional borrowers will deposit collateral with Anchorage and maintain custody during the loan period, with the custody balance represented on-chain by non-transferable custody collateral tokens CoCT, minted and burned by CustodySync designed by Chainlink.Borrowers will stake CoCT on the Spoke and withdraw stablecoins from the Isolated Hub. The entire loan lifecycle, including liquidation, is synchronized between the custodian and Aave through Chainlink infrastructure. The proposal is limited to a single Isolated Hub and a single Spoke governed by the Aave DAO, without altering existing Hubs, Spokes, or reserves. The underlying assets will always remain in custody, with Anchorage holding the assets as the custodian and acting as the counterparty for account control protocols; Chainlink does not hold the assets.CoCT is a restricted transfer ERC-20, only allowing Hub, Spoke, and CustodySync, with minting and burning exclusive to CustodySync, and each borrower's position corresponding to a contract. The initial plan is to launch a CoCT for BTC held in custody by Anchorage. The next steps involve ARFC discussions, and if supported, it will proceed to Snapshot, followed by submitting the final parameters for AIP.

first_img Wyoming stablecoin adopts Chainlink reserve proof, FRNT circulation is less than one million coins

On September 2, the Wyoming Stable Token Committee announced the adoption of Chainlink Proof of Reserve as the exclusive on-chain reserve verification layer for the Frontier Stable Token (FRNT), with reserves and supply balances audited by The Network Firm published to on-chain readable feeds. The current scale available for verification is not large: according to CoinGecko data, the total supply of FRNT is 967,900 tokens, with a unit price of approximately $0.99884, which only accounts for about 0.2% of the base scenario estimate (508.7 million tokens) submitted by the committee to the state legislature's budget meeting materials; the 24-hour trading volume is $160, all occurring on Kraken.The announcement separates the two products, with only Proof of Reserve currently online. The Proof of Reserve Secure Mint component, which programmatically prevents minting when reserves cannot cover total supply, is said by the committee to still be in the "adoption process." The committee previously published daily proofs on its official website, and this adjustment changes the method of data delivery rather than the update frequency. Committee Executive Director Anthony Apollo stated that adopting Chainlink's reserve proof provides transparent and verifiable confirmation that FRNT is fully backed by high-quality reserve assets; Chainlink Labs Chief Business Officer Johann Eid remarked that this demonstrates that governments can utilize the Chainlink platform to put trustworthy, fully verifiable on-chain financial infrastructure into production.
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