Sushi, a leading decentralized crypto exchange, announced the integration of Chainlink Cross-Chain Interoperability Protocol (CCIP) earlier today. The integration would boost cross-chain swaps for the DeFi exchange, which is currently deployed over 25 different chains, including Ethereum, Arbitrum, Base, Polygon, Fantom, and BNB Chain.
Sushi took to X (formerly Twitter) today to announce the integration of Chainlink CCIP:
📢 Announcement: Sushi Boosts Cross-Chain Swaps with @chainlink CCIP integration
— Sushi.com (@SushiSwap) September 15, 2023
💧 Seamless Liquidity across @arbitrum @avax @ethereum @optimismFND & @0xPolygonLabs
🛠️ Customizable Rate Limits
🌉 Consistent Token Bridging
🔒 Time-Tested Security
Blog: https://t.co/U3CbPAkzy7 pic.twitter.com/bcrH7P6cBv
Describing Chainlink CCIP as the industry standard for secure cross-chain interoperability, Sushi stated in a blog post that the integration would unlock cross-chain swaps with increased security. The DEX added that the integration of Chainlink CCIP would also grant access to its Arbitrary Messaging, Token Transfer, and Programmable Token Transfer capabilities.
Speaking on the integration of Chainlink CCIP into Sushi, Chainlink Labs’ Chief Business Officer Johann Eid stated:
We’re pleased to support secure and reliable cross-chain swaps on Sushi via Chainlink CCIP. This integration will deepen liquidity and pave the way for a Web3 economy that could encompass over a billion users.
According to Sushi, the Chainlink CCIP would help enable the flow of liquidity across the multi-chain DeFi ecosystem while providing robust security features. Users would be able to set rate limits on a per-token and per-lane basis, which would act as a safety mechanism in case of exploits or issues with the destination chains.
Sushi added that the integration would also provide access to CCIP’s flexibility in handling bridged tokens through different DeFi architectures. Furthermore, Chainlink’s Risk Management Network would provide an independent layer to monitor and verify cross-chain operations for suspicious activities.
Data from CoinMarketCap shows that Sushi’s native SUSHI gained more than 3% earlier today, and had a visible surge following the Chainlink CCIP integration. At the time of writing, SUSHI was trading at $0.62, with a market capitalization of $144 million.
