Enhancing RARE Token Functionality with Cross-Chain Flexibility

By integrating Chainlink's Cross-Chain Interoperability Protocol (CCIP), SuperRare has significantly advanced the use value of its RARE coin.

SuperRare has integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enhance the utility of its RARE token. This integration will enable seamless token transfers between Ethereum and Base, a Layer 2 blockchain.

The integration is part of SuperRare’s broader strategy to enhance scalability and reduce transaction fees, particularly for users migrating from Ethereum due to high gas prices. With the addition of CCIP, users will now be able to utilize RARE more effectively by accessing lower fees on Base while enjoying the secure cross-chain transactions enabled by Chainlink’s decentralized oracle network.

.@SuperRare has integrated #Chainlink CCIP into its RARE token to support highly secure transfers across @base & @ethereum.

CCIP significantly enhances the capabilities & reach of SuperRare's curation token by enabling it to span multiple ecosystems.#RoadToSmartCon pic.twitter.com/haXtR4oTjK

— Chainlink (@chainlink) October 18, 2024

This integration is primarily driven by enhancing the capabilities of the RARE token. By enabling tokens to be transferred between Ethereum and Base, SuperRare is providing its users with greater flexibility while maintaining the security inherent in Chainlink’s decentralized architecture.

Utilizing a lock-and-mint mechanism, CCIP allows users to seamlessly migrate their tokens across the two ecosystems. Tokens locked on Ethereum will mint corresponding tokens on Base, and vice versa.

This ensures that existing Ethereum token holders will maintain complete functionality without any adverse effects, facilitating RARE’s ability to thrive across multiple platforms. The deployment on the Rare Bridge further enhances these benefits by utilizing Chainlink’s anti-fraud policies and decentralized security standards.

It ensures that attacks cannot access any cross-chain transaction and that they are tamper-proof. This enables SuperRare to tap into a broader market, particularly within the NFT space, attracting developers who may be interested in exploring new decentralized applications (dApps) built around RARE.

Complementing this move, the platform’s deep integration with Ethereum’s ecosystem and growing presence among on-chain artists influenced the decision to onboard Base as its first Layer-2 solution. For SuperRare, the opportunity to utilize Base’s lower fees without sacrificing the security of Ethereum made this shift highly compelling.

Chainlink’s CCIP is emerging as a key enabler of cross-chain innovation not only for SuperRare but also for a wide range of other blockchain projects. This interoperability, powered by CCIP, enables DeFi, gaming, and NFT platforms to scale across multiple ecosystems while maintaining secure and reliable token transfers.

On a separate note, as previously covered by CNF, Web3 Shield has joined Chainlink’s Build program to enhance on-chain insurance products and bolster ecosystem expansion. Their close integration with Chainlink CCIP ensures strong multi-chain capabilities and facilitates seamless cross-chain transactions.

Meanwhile, LINK is trading at $11.57 at the time of writing, up 3.00% in the past 24 hours with a daily trading volume of $198.01M.

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