Notable

Metis

Chainlink

<p>Chainlink’s Cross Chain Interoperability Protocol (CCIP) has experienced a substantial revenue increase of 180% over the past two months, demonstrating a significant uptick in its adoption. According to data from Dune Analytics, CCIP’s fee revenue jumped from around $61,000 in January to more than $171,000 in the first half of March. This growth brought the total cumulative revenue of the protocol, launched in July 2023, to $377,724.</p>
<p>The CCIP has been designed to allow smart contracts to securely access data from any external API or system, facilitating seamless data connectivity between blockchains and off-chain systems. This protocol operates through Chainlink’s decentralized oracle network, aiming to enhance interoperability across the blockchain ecosystem.</p>
<figure class="wp-block-image size-large"><img fetchpriority="high" decoding="async" width="1200" height="348" src="https://www.cryptopolitan.com/wp-content/uploads/2024/03/Screenshot-2024-03-15-at-7.48.31-AM-1200x348.png" alt="" class="wp-image-484913" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/03/Screenshot-2024-03-15-at-7.48.31-AM-1200x348.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/03/Screenshot-2024-03-15-at-7.48.31-AM-300x87.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/03/Screenshot-2024-03-15-at-7.48.31-AM-768x222.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2024/03/Screenshot-2024-03-15-at-7.48.31-AM-1536x445.png 1536w, https://www.cryptopolitan.com/wp-content/uploads/2024/03/Screenshot-2024-03-15-at-7.48.31-AM.png 1920w" sizes="(max-width: 1200px) 100vw, 1200px">
 <figcaption class="wp-element-caption"><em>Network fees in CCIP \ Source: Dune Analytics </em>
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</figure>
<h2 class="wp-block-heading" id="key-contributors-and-revenue-sources">Key Contributors and Revenue Sources</h2>
<p>Ethereum’s layer-2 protocol, Arbitrum, has been identified as the largest contributor to CCIP network fees, accounting for 28% of the total, closely followed by Base, which contributes 24%. These platforms highlight the protocol’s integral role in supporting transactions across different blockchain environments. Chainlink community ambassador, known as “ChainLinkGod,” <a href="https://twitter.com/ChainLinkGod/status/1767053780376584237" rel="noopener noreferrer nofollow" target="_blank">explained that</a> the fees generated through CCIP cover the gas costs associated with completing transactions on the destination chain as well as the premium paid to CCIP service providers.</p>
<h2 class="wp-block-heading" id="strategic-integrations-and-partnerships">Strategic Integrations and Partnerships</h2>
<p>The recent surge in CCIP’s adoption and revenue has been partly driven by a series of strategic integrations and partnerships. Notable collaborations include those with the Metis layer-2 network, auditing platform Code4rena, stablecoin issuer Circle, and South Korea’s major game developer, Wemade. Additionally, a significant partnership was forged with SWIFT in 2022 to undertake a proof-of-concept project for token transfers.</p>
<p>Chainlink’s revenue streams extend beyond CCIP, with the network earning from node operator fees, a portion of LINK staking, network revenue share, and enterprise products. Its total cumulative revenue stands at $373 million, with the majority originating from Oracle feeds. The LINK token experienced a notable price increase, reaching its highest level in over two years at $21.71 on March 11, reflecting the protocol’s growing value and adoption within the cryptocurrency market.</p>

Chainlink’s CCIP revenue jumps 180% amid growing adoption

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