Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is the industry standard for cross-chain digital asset and data transfer. Leading DeFi protocols and decentralized exchanges as well as traditional financial institutions are integrating CCIP to unlock new use cases and markets for tokenized real-world assets with unique onchain utility.
This week, Index Cooperative (Index Coop), a decentralized autonomous organization (DAO) that maintains top crypto indexes, announced its CCIP integration across the Ethereum and Arbitrum mainnets. Index Coop is employing CCIP’s Simplified Token Transfer capabilities to facilitate cross-chain transfers of the DeFi Pulse Index (DPI) and Metaverse Index (MVI) tokens.
DPI and MVI are among Index Coop’s various index products offering both new and experienced users passive exposure to digital assets. By unlocking cross-chain liquidity with CCIP, Index Coop expects to expand the adoption of its onchain products by enabling low-cost access on Arbitrum’s Ethereum layer-2 network.
Index Coop selected CCIP as its cross-chain solution because it leverages Chainlink’s time-tested oracle infrastructure, which has enabled over $10.5 trillion in transaction value, to achieve the highest level of cross-chain security and features a separate Risk Management Network that independently monitors cross-chain functions for suspicious activity.
“Chainlink’s long-standing commitment to security and reliability is what drew us to CCIP,” said Allan Gulley, Head of Product at Index Coop, in an official announcement. “When it comes to bridging, we wanted to maximize safety and minimize latency for our end users, and CCIP proved to be the optimal solution for Index Coop.”
To learn more about Index Coop, visit their website, X, and Discord.