OpenOcean

We’re excited to announce that OpenOcean has integrated <a href="https://chain.link/cross-chain" rel="noopener noreferrer nofollow">Chainlink CCIP</a>—the industry standard for secure cross-chain interoperability—across the Arbitrum, Avalanche, BNB Chain, Optimism, and Polygon mainnets. We’re leveraging CCIP’s <a href="https://blog.chain.link/ccip-mainnet-early-access/#simplified-token-transfers" rel="noopener noreferrer nofollow">Simplified Token Transfer</a> capabilities to facilitate cross-chain transfers of USDC, which are used as an intermediary to unlock cross-chain swaps.We selected CCIP as our go-to interoperability solution because Chainlink has a proven track record of maintaining the highest standard of security and reliability in the Web3 industry. Furthermore, CCIP is backed by the <a href="https://blog.chain.link/ccip-mainnet-early-access/#risk-management-network" rel="noopener noreferrer nofollow">Risk Management Network</a>—a separate, independent network that continually monitors and verifies cross-chain operations for suspicious activity. This additional layer of security is particularly important given historical industry exploits and the billions in user funds lost due to insecure and unreliable cross-chain infrastructure.OpenOcean is a one-stop decentralized crypto trading solution that enables users to swap tokens across blockchains and protocols. Previously, OpenOcean integrated <a href="https://t.co/mzMRoRBpJN" rel="noopener noreferrer nofollow">Chainlink Automation</a> and <a href="https://t.co/A6dtcQRJaH" rel="noopener noreferrer nofollow">Price Feeds</a> across multiple chains to unlock seamless and secure limit order functionality, as well as to provide users with higher assurance they’re getting <a href="https://t.co/24YA3noyZb" rel="noopener noreferrer nofollow">the best price on any trades</a>. Now, OpenOcean is using Chainlink CCIP to access cross-chain USDC token transfers. Cross-chain USDC—powered by CCIP—is leveraged as a highly liquid intermediary to help power seamless cross-chain token swaps.In order to help secure our cross-chain swaps using USDC token transfers while maintaining the same trust assumptions the protocol already had, we needed access to a highly secure and reliable interoperability solution built on the Chainlink platform. Alongside the benefit of adding zero additional trust assumptions, Chainlink CCIP provides a multitude of important benefits and features, such as:<ul><li>Time-tested security and reliability—CCIP’s consensus and interoperability layer is powered by Chainlink decentralized oracle networks, which have already secured tens of billions of dollars for smart contracts and enabled over $8 trillion in on-chain transaction value. CCIP also features additional layers of protection and reliability via the Risk Management Network and <a href="https://blog.chain.link/ccip-mainnet-early-access/#smart-execution" rel="noopener noreferrer nofollow">Smart Execution</a>.</li><li>Simplified Token Transfers—CCIP features a plug-n-play solution consisting of audited token pool contracts that handle the complexity of burning and minting or locking and minting tokens across chains. CCIP’s Simplified Token Transfers also have additional security features like Rate Limits, and enable ecosystem partners to easily build new capabilities around a supported token via a single CCIP interface.</li><li>Flexible and programmable—CCIP messages are programmable, meaning token transfers and arbitrary data transfers can be one atomic transaction. This enables instructions to be passed in the data payload regarding what to do with the tokens once they arrive at the destination chain. CCIP also supports multiple token handling mechanisms on the source and destination chains (e.g., burn and mint, and lock and mint) to open up a wider range of use cases.</li><li>Future-proof—CCIP is built to support continuous updates, such as the integration of new blockchains, the introduction of advanced functionalities, and the addition of other defense-in-depth approaches to security. Thus,  integrating CCIP eliminates future switching costs should new cross-chain functionalities be required.</li></ul>“The Chainlink platform already serves as a fundamental piece of infrastructure for OpenOcean, so it was a no-brainer to use Chainlink CCIP for OpenOcean’s cross-chain swaps. CCIP is undeniably the most secure cross-chain solution on offer in the blockchain industry today, and one added benefit is that OpenOcean doesn’t add any additional trust assumptions by integrating it since it’s part of the same Chainlink platform.”— Lenny, Co-founder.About ChainlinkChainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.Learn more about Chainlink by visiting <a href="https://chain.link/?utm_medium&#61;referral&amp;utm_source&#61;press-release" rel="noopener noreferrer nofollow">chain.link</a> or reading the developer documentation at <a href="https://docs.chain.link/?utm_medium&#61;referral&amp;utm_source&#61;press-release" rel="noopener noreferrer nofollow">docs.chain.link</a>. To discuss an integration, <a href="https://chain.link/contact?utm_medium&#61;referral&amp;utm_source&#61;press-release" rel="noopener noreferrer nofollow">reach out to an expert</a>.About OpenOceanOpenOcean is the widest reaching DEX Aggregator, cross-chain swap aggregator, and Web3 middleware developer in the crypto space. Offering a suite of tools across 30&#43; networks and 1,000&#43; unique sources of liquidity, OpenOcean is building tools for now and for the future. Experience what it’s like to trade with ease, the way that you want to with OpenOcean.<a href="https://openocean.finance/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/OpenOceanGlobal" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://t.me/OOFinance" rel="noopener noreferrer nofollow">Telegram</a> | <a href="https://discord.gg/cxK6CCYcGp" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://coinmarketcap.com/community/profile/OpenOcean/" rel="noopener noreferrer nofollow">CoinMarketCap</a>

OpenOcean Integrates Chainlink CCIP To Unlock Cross-Chain Swaps

OpenOcean

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