Last October, leading web3 gaming ecosystem and EVM blockchain Ronin announced it would adopt Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as its canonical cross-chain infrastructure after validators overwhelmingly voted for CCIP over LayerZero and Axelar. In December, CCIP went live on Ronin, opening the network’s bridge lanes to Ethereum and Base and initiating the migration of existing assets from Ronin’s legacy bridge to CCIP.
Today, Ronin announced it officially completed the migration of all assets representing $450M+ in TVL from the deprecated Ronin Bridge to CCIP. The new CCIP-powered Ronin Bridge app now supports 12 assets: AXS, APRS, PIXEL, LUA, LUAUSD, ANIMA, SLP, YGG, BANANA, USDC, WETH, and WBTC.
CCIP is the industry standard for digital asset and data transfer leveraged by 47 blockchains and a growing number of traditional financial institutions to unlock new use cases and markets for tokenized assets. The protocol leverages Chainlink’s battle-tested decentralized oracle infrastructure, which has enabled over $20 trillion in transaction value, to achieve the highest level of cross-chain security reinforced by an independent Risk Management Network.
CCIP’s many benefits include the Cross-Chain Token (CCT) standard, which allows any ERC-20-compatible token to be turned into a CCT with additional security and reliability benefits like configurable rate limits; Programmable Token Transfers, which condense complex multi-chain initiatives into atomic transactions; and Smart Execution, which ensures reliable transactions even during network congestion.
Launched by Sky Mavis, creator of the 2021 breakthrough web3 game Axie Infinity, which has generated over $1 billion in revenue, Ronin has processed over $4 billion in NFT volume and is hyper-optimized to scale a single blockchain game to millions of daily active users with near-instant transactions and negligible fees.
“Migrating to Chainlink CCIP is a major unlock for Ronin as we scale into the most accessible and secure gaming and consumer chain in Web3,” said Sky Mavis co-founder and CEO, Trung Nguyen, in an official announcement.
“Developers get cross-chain infrastructure to build fast and secure, while users can easily bridge assets across the multi-chain ecosystem, opening the door to the next generation of games and apps.”
“By choosing CCIP, Ronin is adopting best-in-class security for cross-chain interoperability,” added Chainlink Labs’ Chief Business Officer, Johann Eid.
“CCIP will help grow the Ronin ecosystem by enabling developers to build novel, cross-chain apps on Ronin and allowing users to bring their assets to Ronin from across the multi-chain ecosystem.”