The Chainlink Build program fosters promising early-stage startups and established projects in Chainlink’s ecosystem. Participants receive benefits including enhanced access to essential Chainlink infrastructure, new product alpha and beta releases, and technical support, in exchange for paying fees that incentivize Chainlink service providers, boost the network’s cryptoeconomic security, and advance the web3 industry as a whole.
Recently, Web3Shield, a suite of insurance, privacy, and security protocols designed to protect and empower everyday web3 users, announced it’s joining Build to accelerate its ecosystem’s growth and the long-term adoption of onchain insurance through Chainlink’s industry-leading oracle services.
Web3Shield’s goal is to make onchain insurance central to web3 by creating simple, user-friendly products that protect cross-chain transactions and tokenized real-world assets so that web3 is as safe and accessible as web2.
As a member of Build, Web3Shield is integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to facilitate cross-chain transfers of its native token, SHLD, and support multi-chain functionality for its insurance solution.
As the industry standard for cross-chain digital asset and data transfer, CCIP leverages Chainlink’s time-tested oracle network, which has enabled over $15 trillion in transaction value, to achieve the highest level of cross-chain security and features a separate Risk Management Network that independently monitors for suspicious activity.
“Joining the Chainlink Build program marks a pivotal moment for Web3Shield as we work to reshape the insurance landscape within Web3,” said Web3Shield founder, Ritam Gupta, in an official announcement.
“Chainlink’s industry-standard services will enhance our ability to deliver seamless and secure insurance products while contributing to the stability and growth of the decentralized ecosystem.”
To learn more about Web3Shield, visit their website, X, Telegram, and GitHub.