Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is the industry standard for cross-chain digital asset and data transfer. Leading blockchains, layer-2s, DeFi protocols, DEXs, and traditional financial institutions are integrating CCIP to unlock new use cases and markets for tokenized assets with unique onchain utility.
Today, Ronin, an EVM blockchain and leading web3 gaming ecosystem, announced its validators voted to adopt CCIP as the network’s canonical cross-chain infrastructure, which will help secure the Ronin bridge.
Following external audits in August, Ronin determined the need for a “specialized, established bridging solution” and initiated a “three-phase request-for-proposal process” including three possible solutions: LayerZero, Axelar, and CCIP. The Ronin Validator community selected CCIP as the overwhelming winner with 10 votes, while LayerZero received three votes and Axelar received zero votes.
Launched by Sky Mavis, the creator of 2021 breakthrough web3 game Axie Infinity, which has generated over $1 billion in revenue, Ronin has processed over $4 billion in NFT volume. The network is hyper-optimized to scale a single blockchain game to millions of daily active users by offering seamless, near-instant transactions and negligible fees.
Ronin selected CCIP because the protocol leverages Chainlink’s industry-leading, battle-tested decentralized oracle network, which has enabled over $15 trillion in transaction value across 19+ blockchain networks. CCIP achieves the highest level of cross-chain security and features a separate Risk Management Network that independently monitors for suspicious activity, while Programmable Token Transfers allow tokens to move cross-chain with instructions for use on the destination chain.
In an official announcement, Head Researcher at Sky Mavis, Phuc Thai, underscored security as the most important criterion for choosing a cross-chain protocol to expand Ronin’s ecosystem.
“Out of all the solutions available on market, adopting Chainlink CCIP as Ronin’s canonical cross-chain infrastructure was an obvious choice, given the protocol’s unparalleled security features and reliability track record,” he said.
“We are thrilled to see the Ronin ecosystem, a pioneer in blockchain gaming, adopt CCIP as their network’s canonical cross-chain infrastructure and improve the security of all bridged assets on the network,” added Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs.
“Secure interoperability powered by CCIP will empower the Ronin community to take full advantage of the multi-chain landscape and accelerate the adoption of Web3 gaming.”
A migration plan outlines how all assets using the existing Ronin bridge will be upgraded to use CCIP for native cross-chain transfers, beginning with transfers between Ethereum and the Ronin Network. Full migration is expected to take 2-3 months with minimal impact to users.
CCIP belongs to Chainlink’s comprehensive set of decentralized oracle services that serve as essential infrastructure for the tokenization economy. Because utilizing additional Chainlink services with CCIP requires little-to-no additional trust assumptions, Ronin plans to expand its DeFi capabilities with Chainlink in the coming months.
“Beyond cross-chain interoperability, we are keen to work on integrating Chainlink’s suite of oracle services that will serve as an important foundation for the next phase of DeFi growth on Ronin,” said Thai.
Read the full CCIP proposal and asset migration plan in the Ronin Discord.