This week, Chainlink’s Cross-Chain Interoperability Protocol (CCIP) officially went live on Solana, the high-performance blockchain for scaling low-cost DeFi applications, unlocking access to over $19 billion of digital assets in Solana’s ecosystem.
Among the first to integrate CCIP on Solana is Zeus Network, a permissionless multi-chain layer that connects Bitcoin and other top blockchains to Solana’s ecosystem. CCIP enables Zeus to transfer zBTC, a fully permissionless Bitcoin asset on the Solana network, across the Base, Ethereum, Solana, and Sonic mainnets, scaling Bitcoin-driven DeFi (BTCFi) on Solana.
CCIP leverages Chainlink’s time-tested oracle infrastructure, which has enabled over $20 trillion in transaction value, to achieve the highest level of cross-chain security reinforced by a separate 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 including configurable rate limits.
Zeus Network also integrated Chainlink Proof of Reserve (PoR) to enhance the security and transparency of zBTC by cryptographically verifying in real time that it’s collateralized 1:1 with BTC. By providing real-time updates for reserves backing digital assets with superior transparency and reliability compared to annual statutory audits, interim audits, and monthly proof of reserves, PoR establishes a new standard for digital assets, DEXs, and crypto ETFs.
Unlike traditional wrapped BTC solutions that rely on centralized custodians, zBTC is fully permissionless and decentralized, making it a vital asset for the Solana ecosystem. APOLLO, Zeus Network’s flagship decentralized application, allows users to lock BTC and mint zBTC which can then be utilized throughout Solana’s DeFi landscape.
In an official announcement, Zeus Network’s founder and CEO, Justin Wang, said the Chainlink standard makes it possible to uphold BTC’s decentralization across multiple chains in DeFi.
“zBTC offers users a truly decentralized Bitcoin asset compatible with the Solana ecosystem, now able to be easily transferred across the most widely used chains thanks to our integration of Chainlink CCIP. We are excited to unlock the vast liquidity potential for DeFi on Solana by leveraging Chainlink, powered entirely by Bitcoin.”
“Zeus Network’s integration of Chainlink CCIP and Proof of Reserve demonstrates a strong commitment to enabling secure, decentralized cross-chain BTCFi,” added Luke Lim, Head of CCIP GTM at Chainlink Labs.
“By leveraging the Chainlink standard, Zeus is unlocking new levels of transparency and interoperability for Bitcoin within the Solana ecosystem, helping to accelerate the adoption of cross-chain DeFi applications.”
To learn more about Zeus Network, visit their website, X, and Discord.