QiDao Integration with Chainlink CCIP

Published on: 13.08.2023
QiDao Integration with Chainlink CCIP

QiDao Integration with Chainlink CCIP, QiDao will initially integrate on Ethereum, Polygon, Optimism, Arbitrum, and Avalanche.

This tool will help projects create robust, anti-fragile systems across multiple chains. QiDao Integration with Chainlink CCIP .

Why Chainlink CCIP? QiDao, along with most major DeFi platforms, already relies on Chainlink’s industry-leading oracles for pricing data. CCIP functions on the same infrastructure as these feeds. As such, they present similar security assumptions for protocols looking to integrate this module.

CCIP will incorporate Chainlink’s Oracle network and the Risk Management Network for enhanced security, continuously monitoring and verifying cross-chain operations for suspicious activity.

QiDao will initially integrate on Ethereum, Polygon, Optimism, Arbitrum, and Avalanche. Protocols on these chains will be able to automate functions of their protocols and governance across any of these chains.

QiDao in particular will use this module to automate the management of key aspects of its protocol, such as debt ceilings, vault incentives, liquidity mining, and risk parameter updates.

The following attributes differentiate CCIP from other similar infrastructure:

  • Time-tested security and reliability — CCIP’s consensus layer uses Chainlink decentralized oracle networks, securing billions for smart contracts and enabling $8 trillion in on-chain transaction value. CCIP also features additional layers of protection and reliability via the Risk Management Network and Smart Execution.
  • Seamless integration — CCIP offers a unified cross-chain developer experience by providing a single, easy-to-integrate interface. Developers only need to integrate the CCIP Router on-chain to start building secure cross-chain applications.
  • Scalable architecture — CCIP eliminates the need for developers to write custom code for chain-specific integrations, while users can interact with any blockchain via a single interface.
  • CCIP supports continuous updates, integrating new blockchains, advanced functionalities, and defense-in-depth approaches to security, eliminating switching costs for cross-chain functionalities.

“We’re thrilled to be integrating the highly secure and scalable Chainlink CCIP to underpin this new product. Powered by the decentralized Chainlink Network, CCIP will help connect our cross-chain community as our protocol scales across the multi-chain Web3 ecosystem.” –Pablo the Penguin, Core Team

About QiDao Protocol

Mai Finance is an open source and non-custodial stable protocol for extracting value out of priced assets. The protocol specializes in offering zero interest loans on yield-bearing assets and project loans for governance tokens.

Website | Twitter

About Chainlink

Chainlink decentralized oracle network supports Web3 apps & hybrid smart contracts. Offers global enterprises and data providers may access to all blockchains. Chainlink secures tens of billions of dollars across DeFi, insurance, gaming, NFTs, and other major industries.

Website | Twitter 

SOURCE: https://qidaoprotocol.medium.com/a-new-paradigm-for-crosschain-projects-powered-by-qidao-and-chainlink-ccip-12779c706ef8

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