Vertex Adopts Chainlink CCIP To Power Secure Cross-Chain Transfers of VRTX
Vertex is excited to announce that we have adopted the industry-standard Chainlink's Cross-Chain Interoperability Protocol (CCIP), enabling seamless and secure cross-chain token transfers of VRTX to new ecosystems beyond Arbitrum, starting with Base and Blast!
CCIP enables efficient asset and data transfers across multiple blockchains, allowing developers to leverage each chain's unique strengths. This interoperability fosters collaboration across ecosystems, empowering developers to build applications with enhanced token features that serve a broader onchain audience in DeFi.
CCIP provides a multitude of important benefits and features, such as:
- Arbitrary Messaging: Send encoded data to a smart contract on another chain (e.g., Base) to trigger specific actions, such as rebalancing or executing functions for complex, multi-chain tasks.
- Secure Token Transfers: CCIP simplifies the process of transferring tokens cross-chain by providing audited token pool contracts that abstract away the complexity of cross-chain validation, without imposing vendor lock-in on token issuers. Transfer VRTX tokens to smart contracts or externally owned accounts (EOAs) on different chains, including Arbitrum, Base, and Blast (i.e., Blitz).
- Programmable Token Transfers: Transfer tokens and data within a single transaction, enabling instructions on token use, such as leveraging tokens as collateral in lending protocols.
Vertex selected CCIP for its renowned security and reliability, with CCIP uniquely providing level-5 cross-chain security. CCIP’s consensus layer is powered by the same Chainlink Decentralized Oracle Network (DON), infrastructure that has secured $75+ billion in DeFi TVL at its peak and enabled $16+ trillion in onchain transaction value since the start of 2022.
Moreover, each CCIP transfer is redundantly validated by multiple DONs, including an independent Risk Management Network that continuously monitors and validates the behavior of CCIP—a wholly unique concept in cross-chain interoperability that builds upon established engineering principles (N-version programming).
“We’re excited to adopt the industry-standard Chainlink CCIP to support cross-chain transfers of VRTX. CCIP is critical functionality for unlocking the value of cross-chain DeFi and helping us advance the onchain ecosystem.”—Darius Tabatabai, co-founder of Vertex.
The cross-chain VRTX token aligns with Vertex Edge’s vision of creating a multi-chain hub for orderbook liquidity, expanding VRTX accessibility and functionality across chains within the Vertex Edge ecosystem.
More specifically, key cross-chain capabilities unlocked for VRTX through CCIP include:
- Seamless transfers of VRTX between Arbitrum, Base, and Blast.
- Enabling the creation of VRTX pools for swaps and borrowing / lending on DeFi applications across supported chains.
In the future, we plan to use CCIP to enable:
- Claiming VRTX trading rewards directly from Base and Blast without needing to switch networks to Arbitrum.
- Staking VRTX on Vertex from Base or Blast, with streamlined access following the upcoming implementation of the Staking V2 upgrade.
Cross-chain transfers of VRTX will be facilitated through Chainlink’s Transporter app, a user-friendly web interface enabling secure VRTX transfers and messaging between supported chains.
Looking ahead, Vertex plans to expand VRTX’s cross-chain capabilities via CCIP.
Stay tuned for more updates!
About Vertex
Vertex was founded by a team of seasoned traders and engineers from both traditional finance and DeFi markets. Recognizing the need for more flexible DeFi trading, Vertex launched on Arbitrum and now is proud to play a role in the innovation of a multi-chain DeFi ecosystem.
About Chainlink
Chainlink is the universal platform for pioneering the future of global markets onchain. Chainlink has enabled over $16 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.